Cryptocurrency

Bitcoin exchange rate to USD 20,000 by the end of 2021

The Bitcoin exchange rate has lost its volatility from the first quarter of 2020 in the last 2 months and ranked since the beginning of may, the majority in the range between 9,000 and 9,600 USD. Currently, he is at the time of writing of the article 9.130 USD and, thus, once again, a little deeper than the day before. This unspannende consolidation phase is in stark contrast to the very good technical chart and fundamental data, such as this week, several of us reported. Many wonder what will happen next and when it finally goes back up again. An answer to this question could give a new survey of the well-known Bitcoin analysts PlanB on Twitter, which has brought very exciting results.

Majority looks at the Bitcoin exchange rate of USD $ 20,000 to come

The quantitative Analyst PlanB is, above all, for its Stock-to-Flow model, says that a Bitcoin price of $ 100,000 until 2021, and in the long term, even up to 1,000,000 USD in advance. This is one of the most accurate prediction of the coveted digital Taler say for the price, however, the model is always in the criticism.

In addition to the publication of his models is a lot of PlanB active on Twitter and has 117.000 Followers, mainly from the Crypto-field. Due to a recently carried out survey among his followers, interesting results came to light about the future of the Bitcoin exchange rate.

Thus, almost 70% think, more accurate figure of 69.6%, of the survey taken of people said that the Bitcoin price will be in the next 12-18 months, so until mid or the end of 2021, above its last all-time high of $ 20,000. The minority of 16.6% think that BTC will stay below $ 20,000. 13.8% of the participants gave a neutral opinion with “I know it,” to the Best.

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Short-term fear of a correction

Basically, the Bitcoin exchange rate is technically in a large symmetrical triangle, which includes the all-time high of 20,000 USD up to the present time. Therefore, many analysts think that a great leap will happen in the future.

Nevertheless, opinions are divided on the question of whether it is in the short term upwards or downwards to go. As we reported today, the fear of a correction in the stock plays a large role.

How are the results justified?

The results of the survey of PlanB clearly show that the majority of a new All-Time High in the Bitcoin runs out of course in the next 12-18 months. So positive is this News for all Bitcoin Fans is so critical you have to look at the results.

For a PlanB we calculated in the above Post that the Bitcoin could jump rate in the short term to 14,000 USD (70% x $ 20,000). As simple as this statement is, so strong is doubtful whether it can really be carried out, in order to determine a short-term BTC price.

Another point of criticism in the survey of PlanB is, that you could not be with a high probability of being representative. This comes from the fact that PlanB has, in General, already heavily Crypto-interested Followers, who are familiar with its bullish forecasts. Thus, they reflect, such as PlanB attaches to itself, not just the buyer and seller, the entire Bitcoin market.

Despite these points of criticism, the result of the survey, see and is Large for the Bitcoin price in the next 12-18 months hope.

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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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