What Are The Bitcoin Future Value Predictions 2020?

What Are The Bitcoin Future Value Predictions 2020?

What are the Bitcoin future value predictions 2020?

The business world has had a crazy year after the coronavirus epidemic. For the most part, Bitcoin and the entire cryptocurrency market seemed to be following the steps of the exchange. The S&P 500 and NASDAQ indices are heavily associated with the cryptocurrency market.

Similarly, the dollar index is inversely proportional to both crypto currencies and the stock market. Every time the US dollar gets stronger against the Euro, we would see the stock market crash and crypto currencies do the same thing soon after.

Bitcoin climbed to its 2020 high of $13,350, following PayPal’s announcement on crypto currencies. According to analysis, the weekly chart basically doesn’t show resistance up to $14,000. According to the analyst, the RSI is on the verge of over-expansion, but Bitcoin’s price did not stop rising when this last happened on May 6, 2019.

What are the Bitcoin future value predictions 2020?

But the recent break above $12,000 for Bitcoin, seems to break some of that correlation. Over the past two weeks, the S&P 500 has dropped nearly 2%, while Bitcoin has risen close to 20%.

In fact, BTC increased close to 100% within two months. The MACD is bullish again and gaining momentum, as both the 100-SMA and 50-SMA remained below $ 10,000. It’s also worth noting that after $14,000, the next price target will be an all-time high of $19,798, according data.

Bitcoin was losing much of its dominance over the cryptocurrency market, mostly due to new DeFi projects. However, BTC’s dominance has now risen from 58% to 61% and there has been a notable increase thanks to the recent rally. According to data, the 24-hour trading volume average started to increase significantly on October 19 and peaked at $43.7 billion on October 22.

According to information, there is solid ground for Bitcoin to continue to appreciate in connection with the decreasing supply. Therefore, it is expected that BTC will rise further.  

So what are the Bitcoin future value predictions 2020? Do you think Bitcoin has enough fuel to reach $15,000?

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