Bitcoin (BTC) Could Surge To $20,000 – Key Levels To Follow
The crypto market looks pretty mixed today, with Bitcoin trading in the red at the moment of writing this article.
The most important coin is priced at $8,847.07 after a few days in which BTC rallied, and experts were eating to see if it can surpass $9,000.
Bitcoin sentiment across crypto Twitter
There’s a new poll from Alex Kruger that’s shedding light on Bitcoin sentiment across crypto Twitter.
The Daily Hodl reveals that “The poll of 4,079 people shows 47.1% believe Bitcoin will surpass its all-time high by the end of the year. Another 27.6% say they think BTC will end up between $14,000 and $19,999; 10.5% think Bitcoin will wind up between $11,500 and $13,999; and 14.8% say it will end up at $11,499 or lower.”
Crypto Twitter is feeling very bullish. 47% of respondents think the high of the year will be above $20,000. https://t.co/eFyPM0SXsm
— Alex Krüger (@krugermacro) January 15, 2020
The BTC fear and greed index from Alternative.me is tracking the market momentum, surveys and social media – this says that the trader sentiment is now in neutral territory.
It’s also been revealed that when the gauge hits the greed zone, the creators of the survey say that BTC may be overbought.
Next lines of support and resistance for BTC
The same online publication mentioned above brings up analyst Josh Rager who addresses the next lines of support and resistance for BTC.
He said that if BTC can pass $9,400 (the support in the summer and fall of 2019), he says it could break out to $10,350.
“$9400’s – Held as support for June-Sept range, significant area to break $10,350s – Point of control, highest volume traded at this pricepoint from May to December Breaking $10,350s, IMO, will confirm next big uptrend with 5-digit BTC for months to come”
Other than this, despite the huge volatility of the crypto market, there have been a lot of optimistic crypto-related predictions lately.
The price of BTC is expected to skyrocket and the main catalyst is seen as the halving which is scheduled for this May.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.