Bullish Crypto Analyst: Bitcoin Price Could Hit $25,000 Before 2020
After a prolonged time of low prices and bear markets, Bitcoin recently breached $8000 signaling an end to the crypto winter and a new bull market. The momentum continues even after a small crash. The price has rebounded, and there […]
After a prolonged time of low prices and bear markets, Bitcoin recently breached $8000 signaling an end to the crypto winter and a new bull market. The momentum continues even after a small crash. The price has rebounded, and there are many reasons for the renewed enthusiasm. But especially after the crash witnessed in 2017, many are skeptical about the recent gains made by Bitcoin, as they fear an immediate fall in price. Circumstances have changed widely since the crash of 2018, yet the scars from the past still create doubts even today.
Renewed Optimism
There are many reasons for the recent gains made by most cryptocurrencies including Bitcoin. Strong positive image, changing emotions and matured infrastructure, all of these are causing investors to flow in. Strong positive emotions can be attributed to the fact that blockchain is being hailed as the next big thing after the internet and investors want in. Also right now, there is a better image of crypto among investors as most investors have a better understanding of the risk. The entry of institutional investors along with better regulations and increased criminal prosecution of scams has definitely helped along. Finally, the most impactful of all is the improvement of infrastructure which has helped a lot of retail investors to enter the space without much friction. With the investors come fresh capital, and this has been attributed to the recent rise in price.
Crash inevitable?
As mentioned before, the scars of the 2018 crash is creating skepticism among investors. This might cause a panic sell off causing a crash. The skepticism about recent gains made by Bitcoin is not completely unfounded. After the crypto boom of late 2017 and early 2018, markets have always been cautious. Every rise has been met with a subsequent correction, and this caution among investors has prevented prices going up too much in a short span of time. This reduced volatility while creating a sense of stability to investors has made breaching of short resistances a herculean task. Another alarming trend that is causing alarm bells to go off for many investors is the fall in NVT ratio, which is the Network Valuation divided by the Transaction Value flowing through the blockchain and then smoothed using a moving average.
One of the greatest wonders of Bitcoin has been that after every crash it tends to recover. not on lost grounds, but attain an even higher price. Going by the pattern we can expect prices to hit upwards of $20,000, its historic peak.The long term bullish momentum of Bitcoin is not being questioned by anyone, and it is going to increase in value over the long term. The point where many disagree is the duration and the pattern by which the price will take. It might not be of significant importance to an enthusiast but for an investment banker who is trying to milk out every dime of profit, this is very important. It is a very exciting time to be in this industry as new innovations arise, and crypto is steadily gaining adoption.
Follow us on Twitter, Facebook, Steemit, and join our Telegram channel for the latest blockchain and cryptocurrency news
Abishek Dharshan
Abishek is an Entrepreneur, Digital Nomad, Student, and ICO Marketing Manager currently based in Berlin & Champaign. He is actively involved in the Blockchain space and has worked in numerous projects in the Silicon Valley since 2017. His interests revolve around Finance, Consulting, and Blockchain Research.
After a prolonged time of low prices and bear markets, Bitcoin recently breached $8000 signaling an end to the crypto winter and a new bull market. The momentum continues even after a small crash. The price has rebounded, and there are many reasons for the renewed enthusiasm. But especially after the crash witnessed in 2017, many are skeptical about the recent gains made by Bitcoin, as they fear an immediate fall in price. Circumstances have changed widely since the crash of 2018, yet the scars from the past still create doubts even today.
Renewed Optimism
There are many reasons for the recent gains made by most cryptocurrencies including Bitcoin. Strong positive image, changing emotions and matured infrastructure, all of these are causing investors to flow in. Strong positive emotions can be attributed to the fact that blockchain is being hailed as the next big thing after the internet and investors want in. Also right now, there is a better image of crypto among investors as most investors have a better understanding of the risk. The entry of institutional investors along with better regulations and increased criminal prosecution of scams has definitely helped along. Finally, the most impactful of all is the improvement of infrastructure which has helped a lot of retail investors to enter the space without much friction. With the investors come fresh capital, and this has been attributed to the recent rise in price.
Crash inevitable?
As mentioned before, the scars of the 2018 crash is creating skepticism among investors. This might cause a panic sell off causing a crash. The skepticism about recent gains made by Bitcoin is not completely unfounded. After the crypto boom of late 2017 and early 2018, markets have always been cautious. Every rise has been met with a subsequent correction, and this caution among investors has prevented prices going up too much in a short span of time. This reduced volatility while creating a sense of stability to investors has made breaching of short resistances a herculean task. Another alarming trend that is causing alarm bells to go off for many investors is the fall in NVT ratio, which is the Network Valuation divided by the Transaction Value flowing through the blockchain and then smoothed using a moving average.
One of the greatest wonders of Bitcoin has been that after every crash it tends to recover. not on lost grounds, but attain an even higher price. Going by the pattern we can expect prices to hit upwards of $20,000, its historic peak.The long term bullish momentum of Bitcoin is not being questioned by anyone, and it is going to increase in value over the long term. The point where many disagree is the duration and the pattern by which the price will take. It might not be of significant importance to an enthusiast but for an investment banker who is trying to milk out every dime of profit, this is very important. It is a very exciting time to be in this industry as new innovations arise, and crypto is steadily gaining adoption.
Follow us on Twitter, Facebook, Steemit, and join our Telegram channel for the latest blockchain and cryptocurrency news
Abishek Dharshan
Abishek is an Entrepreneur, Digital Nomad, Student, and ICO Marketing Manager currently based in Berlin & Champaign. He is actively involved in the Blockchain space and has worked in numerous projects in the Silicon Valley since 2017. His interests revolve around Finance, Consulting, and Blockchain Research.
Regular updates on Web3, NFTs, Bitcoin & Price forecasts.
Stay up to date with CryptoTicker.