The Ethereum news and Bitcoin updates in 2017 showed that the biggest altcoin out there and the leading cryptocurrency worked in tandem to reach all-time heights. Ever since then, the situation on the market has been changing and the prices have been falling. In fact, the price of ETH dropped around 90% alone and almost every asset has been known to be exciting but volatile. Now that another year has passed, we can see a 2020 Bitcoin forecast is here and it looks impressive.
When tracking the year behind, we could say that it was a sea of tranquility besides one moment when Bitcoin (BTC) managed to get above $12,000 and show us stability in the five-digit zone. However, this was not a momentum that lasted for too long.
All asset classes have what is known as shakeouts. A 2020 Bitcoin forecast shows that shakeouts like these may continue in the following periods, too. Smart money or institutional investors have come in 2019 and we are more than ready to accept them in the year to come.
What’s also important to note is that Bitcoin has had a substantial shakeout period at the tail end of 2018. Specifically, BTC reached a low point of $3,122 on December 15, 2018 – and stabilized between $3,300 and $4,200 for 3.5 months. This was a time when the investors patience faced a major test but (at least) the bleeding has stopped.
A 2020 Bitcoin forecast details that now, we are in a stable position – compared to the $3,300 price point – and we are expecting a shakeout which will see BTC moving above $10,000. What’s good is the fact that the Libra news show that Facebook is ready to move on with its stablecoin in 2020 – something that might bring us positivity at least in the first two quarters of the year.
There is definitely a global glimmer of hope for Bitcoin investors. China reiterated their pledge to crack down on illegal cryptocurrency exchanges – a talk was discouraging but not new. When looking ahead, a 2020 Bitcoin forecast which is rational and real is one where Libra and China are forcing the bullish appeal of crypto. We are always ready to look forward to new records and new technologies developing as Bitcoin brings another exciting year on the blockchain.
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