Bitcoin (BTC) Forecast For 2020

2019 is about to end, and this year marked a lot of crypto achievements.

One of the most important goals in the crypto space was the mainstream adoption of digital assets, and things have been going in the right direction regarding this goal.

Despite the huge market volatility, there have been a lot of optimistic crypto predictions popping up in the crypto space.

BTC to hit a new low in 2020?

Veteran trader and former risk analyst Tone Vays said that he believes BTC  will probably hit a new low in 2020.

He told BlockTV that he believes BTC could be dropping to $5,000.

But on the other hand, it’s also worth noting that despite the prediction, Vays said that he’s ready to become a long0term bull for BTC when it breaks $10k.

“We could have a little bit of a rally into the close [of 2019]. But I’m not really expecting anything above $8,000 anytime soon, to be honest with you. I’m looking for the next low to come in in the first quarter of 2020. I think the high probability of that low coming in around $5,000 sounds reasonable to me. So something below $6,000,” Vays said.

BTC hitting $10k will be a struggle

He continued and pointed out that this does not have to happen because there was a pullback already. Vays said that when BTC surpasses $10k, he’ll be a bull for the next few years.

He explained, “But I think that going above $10,000 is going to be a struggle for the majority of next year.”

At the moment of writing this article, BTC is trading in the red and the most important coin in the market is priced at $7,451.95.

You can check out what more Vays said in the video below.

Despite the huge market volatility, there have been a lot of optimistic predictions these days.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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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.

2154 Articles

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BitStarz

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