This year has had a start epic all over the world. The pandemic of Coronavirus has put the markets and governments in check, by making the holders of crypto wonder what will be the future price of Bitcoin in 2020.
The price of Bitcoin in 2020 by Coronavirus
The journey that has taken the price of the criptomoneda has long been dramatic. From face the greatest fall in one day in its history, bringing the price below $ 4,000, until they recover trading above $6,000. However, the drop-off crash occurred at a time that coincided with the collapse in stock markets and indexes of the U.S. With this, the investors in cryptocurrencies have wondered about the true potential for the future of Bitcoin, at least in 2020. At the same time, the injection of liquidity by the Federal Reserve, as an option of remedy for the relief of the markets, could also initiate an impact on the criptoverso. Because of this, today we will share the possible predictions on the price of Bitcoin in 2020 in this adverse environment.
Peter Brandt displayed a drop
The veteran of the trade, who previously had been pronounced by a possible bullish run, now considered a possible scenario bearish. According to a graph shared on Twitter, believes that BTC may soon plummet. Even getting up to the top level of $ 2,000 if you complete a flag bassist. “What you’ll change your mind (at least in the short term) if the chart is full, a flag of a bear (bearish)?”, said Peter Brandt.
Future price of Bitcoin could come back to visit to $ 3,000
Another prominent trader give their opinion on the price of Bitcoin in 2020 is SmartContracter, who commented that the recent rally seems to be “corrective”, suggesting that it is likely a reversal to a downtrend:
havent donate $btc update in a while but structurally this rise looks corrective, i think this was an abc and we continue lower here pic.twitter.com/kzibbSFryh— 🍄🌲Benjamin Blunts🌲🍄 (@SmartContracter) March 20, 2020
“I haven’t done an update of BTC in a long time, but structurally this increase seems corrective, I think it was an ABC and we continue further down from here.” According to their analysis, based on Elliot waves, suggests that the price of Bitcoin will fall as low as $ 3.200, the minimum of the bear market in 2018. If this happens, it means that Bitcoin would fall close to 50% of the current price of $6.300 at the time of writing.
Mike Novogratz sees a picture uncertain
The famous investor influential criptoverso and founder of Galaxy Digital, shared via Twitter, his perspective on current market crypto.
$btc will continue to be volatile over the next few months but the macro backdrop is WHY it was created. This will be and needs to be BTC’s year.— Michael Novogratz (@novogratz) March 22, 2020
“$BTC will continue to remain volatile in the coming months, but the context macro is FOR WHAT was created. This will be and needs to be the year of BTC”. Your tweet shared only hours after the Congress of the united States be unable to reach an agreement on a package of financial support proposed $ 2 trillion.
The Halving of Bitcoin is about
The Halving in the rewards for mining is more and more near. Many optimists will want to take advantage of this event and the possibility of future profits, while maintaining the current price and producing a trend toward the $7.000 or more. In addition, investors now start to worry about the central banks, which set in motion the “printers” of unlimited money, as well as the cutting of interest rates. Given this, the limited supply of Bitcoin and decentralization may lead some investors to consider it as an asset a safe haven, similar to gold, pushing the price of Bitcoin in 2020. In addition to that Bitcoin offers a number of attributes or features different to other forms of payment, such as the “pseudo-anonymity”. Then, whatever happens, everything indicates that there will always be people who are interested in Bitcoin. However, in terms of payments, Bitcoin and other altcoins still have much work to do. The commercial acceptance of the cryptocurrencies is virtually non-existent in the physical world.
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