Cryptocurrency

Bitcoin exchange rate All-Time High in 2020?

The Bitcoin price has been turbulent weeks behind. The onset of corona crisis has ripped the digital currency first, with all of the other Assets in the depth, only to then directly for a small recovery to recognise. Now the price is back since a few days on a lower level of on-the-go, keeps you there, but wacker. Just as volatile as the Bitcoin exchange rate was in the last few weeks, as far as the opinions of the Crypto-Fans apart to go to the next course. The hopes for a new all-time were high for this year so high. According to an analysis company, it looks now rather badly. How (un)likely to be an All-Time High in 2020, then?

Bitcoin exchange rate in USD 20,000 is very unlikely

According to the Crypto-analysis of the company Skew the Chance that the Bitcoin exchange rate reached this year a new all-time high of USD 20,000, slipped into the basement. The probability that the Bitcoin price on may 25. December 2020 is 20,000 USD is, according to their calculations, only 4%. The other way around, it is so-so, with 96% much more likely for BTC, this year, no new heights.

For the calculation of this probability, the company has been market-oriented for Bitcoin options. Options derivatives to buy its owner the right but not the obligation to grant BTC later at a specified price or to sell it. In other words, it is speculated with a BTC Option to the Bitcoin price in the future. This Skew has considered the so-called “Open Interest”, i.e. the sum of all open positions in the option contracts.The calculations are of course only snapshots and may change at any time. More specifically, they reflect more the opinion of market participants, again, expressed in BTC options. So it seems, as if the Halving, which will come in may, is currently little attention, and this is due to the current situation would have little impact on the Bitcoin exchange rate is awarded. But as it looks currently on the market?Trade on the worlds leading Social Trading platform!Join the millions of people who have already discovered how it smarter to invest by copying the best investors in our Community, or be copied and as a result, a second income can be achieved. Start now!

BTC is in a consolidation phase

Currently, the Bitcoin exchange rate doped to the date of the publication of approximately 6.280 USD at the present day, 2.6% in Plus. This means that the price is currently at the upper end of a renewed phase of consolidation, in which it is located since Saturday.In the night from Friday to Saturday, the Bitcoin rate of approximately 6.700 USD 6,300 USD, and later fell off, even then, to 6,100 USD. Since it is relatively constant in the range between about 5,900 and 6,300 USD, and at the present day is clearly in an upward trend.The Potential for a breakout to the top, but also for a further break-in is still available. Also, if the volatility in BTC is even lower than in the case of stock, it remains so still exciting. So only one question remains:

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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.

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