At the time of writing the Bitcoin is traded on US$ 9.626, less than 50% of its historic maximum of US$ 20,000, recorded back in December of 2017. The big question is… When will the Bitcoin back to the 20K? There is No doubt that in 2017 the Bitcoin experienced a bubble going up from US$ 1,000 to US$ 20,000 in just 12 months. There were not many more options that its price will fall in 2018, what in the jargon of the financial markets is known as a technical correction. This year, the Bitcoin, and the market crypto in general, is showing good signs of recovery, where the BTC from the 3.2 K from the beginning of the year, came to almost 14K at the beginning of July, to then stabilize in the area of the 10K. In the graph below you can see clearly as from the month of February, the Bitcoin has started his recovery, finding himself in these moments at a point of inflection of consolidation. Graph of Bitcoin in the last year, we’re less than a week Bakkt begin to negotiate its future, an initiative that should have a positive influence on the price of the digital currency leader. Another fact not less in favour of Bitcoin is steadily growing its dominance in the market-cryptographic, that at the time of writing this post, is about 70%. This means in a nutshell that 7 out of every 10 dollars that enter the ecosystem go to the Bitcoin. Dominance of the Bitcoin market crypto-November 12, 2018, I wrote a post on the Train to the Bitcoin, where the idea was to illustrate that we were in for a good time to buy thinking to medium and long term. I still think that at these levels it is a good moment to enter long. Now, answering the question of the post: When will come back the Bitcoin to US$ 20,000?, I have to say that it will not be this year, but if I think that we will reach out in the first quarter of 2020. For the last four months of the year, the goal of maximum stood at $ 15K, and the minimum at 8.8 K, very close to the current value. To finish its worth noting that I don’t have a crystal ball or a lot less. I come to these conclusions on the basis of various technical analysis / fundamental that I do periodically on the Bitcoin. The following two tabs change content below. Analyst of financial markets, and passionate about new technologies, especially in the disruptive as the Blockchain.
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