Cryptocurrency

BTC prediction: in 2020, a bull year for Bitcoin

“As of January, the year” – the old adage in the stock market might mean to share a disaster for Bitcoin in the year 2020, but profits.
January has closed for the stock market on Friday with a massive sell-off wiped out all the gains of the month. Conversely, the Bitcoin price has held up after a significant Win in the last week of the month stable.

Back to the future!

Stock market experts have long known that January is an excellent indicator for annual changes. Since 1950, the S&P500 was in January to 86% positive, followed by positive year. One speaks in this context of ‘January Barometer’.
A higher correlation also have the choice of years. If January was in an election year, then 100% of the years were positive. The yields in these years were, on average, at 16.6%.
But the opposite is the case – negative January years, a stock exchange often mean disaster. As of January, for the stock is negative, expect a lot of investors this message the year 2020.

The Bitcoin bulls upgrade to

Bitcoin was able to complete the month of January with strong gains. The month began with a Coin that floated around 7.150 Dollar and ended for Bitcoin with a support of about 9.250 dollars.
This represents an increase of more than 29%. This positive growth cycle would seem to indicate that Bitcoin is recorded in the year 2020 on the basis of analysis of a bullish.
Investors keep track of, of course, the global news, and many have already begun, from the stock positions to withdraw. The Coronavirus, geopolitical tensions and the Brexit have all played a massive role in the vibration of stock market stability.
As investors exit the stock, look for safe investments. Bitcoin has started to show exactly these qualities. Along with Gold and other precious metals, Bitcoin investors, melt offers a hedge against the global core.
Since the shares shows the market for the year, with signs of weakness, it is not surprising that Bitcoin shows strength. Should be the indicator as true, could the race of the Bitcoin bulls for the Rest of the year quite.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.