The Bitcoin price 2020 predictions have always been part of our latest Bitcoin news. They are an integral part of the cryptocurrency industry because of its early beginnings and a lot of upsides so far – especially the rise of cryptocurrency.
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While there have been a lot of predictions to keep track, one that caught the eye of many experts recently was a Bitcoin price 2020 outlook which is viral and is being mentioned to this day. Made by the Twitter user @22loops, the BTC prediction shows that the price is likely to bottom soon.
The date proposed for the bottom was October 24, which was two days ago when Bitcoin indeed traded around $8,000.
https://twitter.com/22loops/status/1081199126908489729
What’s also interesting are the other details on the Bitcoin price 2020 prediction. We are dividing the opinion and showing others about the Bitcoin’s absolute and relative low according to @22loops.
The tweet was made on January 4 and marked by the yellow arrow. However, the actual low was reached on December 15 when we could see BTC trading at $3,148. After this, the price of BTC began an upward move in which it increased by more than 300%. This upward move ended on June 26 and the price of BTC has been descreasing since.
While the entire Bitcoin price 2020 prediction did not specify when Bitcoin is about to make an absolute and relative low, we can say that the December price of $3,174 is definitely the low. When talking about the relative low, however, we can see that it is ever since the correction that began on June 26. By drawing the trendlines and seeing the halving dates (vertical lines), the December 2018 bottom is likely to coincide with the one in August 2015.
From this, we could expect the price to make another low close to the support line. However, since the support line is ascending, the value can be higher than $7,500. Looking at the daily moment, BTC managed to increase to $9,200 which is a good sign of a new increase in the crypto news today.
All in all, judging by the proximity of the price today with the projected low, we can safely say that the prediction made by @22loops in January 2018 was relatively accurate.
Do you think that the Bitcoin price 2020 is going to be in the five-digit region?
Let us know in the comments!
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