If bitcoin tops $ 14,000, analysts say merchants ought to have a look at $ 20,000 as an alternative of trying again – market updates from bitcoin information
While Bitcoin prices hit the all-time high of 2020 on Tuesday, some analysts expect few more hurdles to surpass the all-time high of 2017 (ATH). For example, Etoro market analyst David Derhy says to look at $ 20,000 instead of $ 12,000.
- Some traders and popular cryptocurrency analysts believe that Bitcoin (BTC) only needs to cross and withdraw from the $ 14,000 region. The ATH on Tuesday 2020 of USD 13,684 is only slightly below the previous year’s ATH of USD 13,796 at USD 13,796 per Bitcoin, which was carried out on June 26, 2019.
- Macro strategist Raoul Pal said Tuesday that there are only two major BTC price resistances left. “There are literally only two resistances left on the Bitcoin chart – $ 14,000 and then the old all-time high of $ 20,000,” tweeted Raoul Pal on Tuesday. “I expect new all-time highs by the beginning of next year at the latest.”
- Etoro senior market analyst Simon Peters said in an investor note this week, “Stimulus fears could fuel the fire for Bitcoin.
- “We can also see a surge in inflation, another important aspect of Satoshi Nakamoto’s view of modern economies that led him / she / she to create Bitcoin,” Peters wrote. “It will also be interesting to see how this affects the correlation between Bitcoin and stock markets.”
#BTC HTF targets pic.twitter.com/RgZLoDwfRJ
– // Bitcoin 𝕵ack 🐐 (@BTC_JackSparrow) October 27, 2020
- “Okex Futures Order Book is asking to be drawn / executed in the last few days as part of the consolidation of BTC,” the popular crypto analyst “Light” told his 25,000 Twitter followers on Tuesday. “A move above $ 14,000 in the near future is the more likely it is to increase,” added Light.
- In the same investor note, Etoro market analyst David Derhy stated that people “should be looking at $ 20,000 instead of $ 12,000”.
- “The current run could easily pull through to $ 14,000,” Derhy wrote this week. “If so, the next level, technically and fundamentally, would be $ 20,000. With the upcoming US election next month, there will be more economic stimulus from the government, although the size of these incentives is still under discussion. My view is that we won’t see a drop below $ 12,000 for a while. “
- Just recently, the “Oracle” Vinny Lingham made similar statements and does not expect the price to drop below $ 12,000 in the next 30 days.
- Meanwhile, Bitcoin’s (BTC) hashrate has dropped 45% in the past three days.
What do you think of the price going beyond the $ 14,000 zone and do you think that $ 20,000 will be next? Let us know what you think in the comments section below.
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