Will Bitcoin Cross $12000 in The Year 2020?

[Shehzad2285 80]

Volatility is a big part of bitcoin price rallies and selloffs, which has defined the cryptocurrency during the last few years. But, this volatility will continue to decelerate as bitcoin becomes more mainstream with the introduction of futures and other instruments, said Bloomberg Intelligence senior commodity strategist Mike McGlone.

"Bitcoin price volatility should continue to decline in 2020, with the transition from a bear to a bull market apparently over," wrote McGlone in his December update. "Increasing institutional interest and vehicles for exposure -- futures, options, Bakkt -- are part of the maturity process. Prices appear to be increasingly caged, with $6,000-$12,000 marking the majority of the range's bell curve."

For 2020, bitcoin’s solid support is at $6,500 and first resistance is at $10,000, McGlone pointed out.

Throughout 2019, the popular cryptocurrency built a solid footing and its next price move is tilted to the upside, noted McGlone.

"A primary factor supporting appreciation of the bitcoin price next year is its potential to end 2019 near a good support zone. The Dec. 3 price of about $7,300 is essentially the mean, median and mode this year," he wrote. "In 2020, we expect Bitcoin to migrate more toward 2019's high close of about $12,730, as opposed to revisiting the $3,360 low."

Bitcoin prices peaked near $20,000 back in December 2017, which was followed by a significant selloff and a bear market. This year's move above $6,500 signaled an end to that bear market, said McGlone.

"Bitcoin's most widely traded price is about $6,500 -- the peak of the bell curve -- since the consolidation period starting in June 2018. Sprinting above this level signaled an end to the bear market, and revisiting it portends an extended range-bound slog before a sustained bull market returns," the strategist said.

The more mature bitcoin becomes the more it resembles the crypto market’s version of gold, especially considering that bitcoin’s supply is limited to 21 million, which means that only about 17% more will be created, said McGlone.

“Increasing adoption of Bitcoin, the digital quasi-currency with limited supply, tilts our price outlook on the first-born crypto favorably for 2020 and the next decade. This year was part of its transition toward the crypto-market version of gold. The maturation process should continue, notably as volatility declines.”

Bitcoin is winning the crypto race of mass-adoption — a sign that prices will head higher, noted McGlone.

“Plenty can go wrong with a nascent asset, but unless the basic premises reverse -- mass adoption and fixed supply -- there's a higher probability to sustain price appreciation vs. depreciation,’ he said.

Going forward, bitcoin’s price moves should resemble that of gold, added the strategist. “Got a view on gold? Then you should on bitcoin,” McGlone wrote.

“Bitcoin trading will more closely mimic gold's… Both quasicurrencies are retracing bear markets and got a bit ahead of themselves in 2019,” he said. “Escalating trade tension, slowing Chinese economic growth, unrest in Hong Kong and the depreciating yuan are incentives for currency diversification.”

 

How can we hel

[Agios 1763]

I hope the Bitcoin price will cross $ 12,000 in The Year 2020, because according to fundamental analysis many rich people will invest in Bitcoin, and this will increase demand and prices in the market.

[Kventin 245]

I am almost sure that Bitcoin will reach such a high price in 2020. In addition, I hope that we will see a market reversal and a bullish trend. I'm tired of looking at the bleeding market.

[Win 1015]

I am very confident that bitcoin hits 15,000 dollars in the mid year of 2020.thats what i seen on the market today.i also hope that we all benifits and gain big profits if this was happen.

[Naylor89 1223]

Bitcoin halving will happen in May 2020. after every halving, Bitcoin went to the moon, so, this is possible for Bitcoin to hit 12000 USD dollars at the 2020 to the first half of 2021.

[Saif588 84]

I can't say it exactly because it is very difficult to say.but my prediction says that it may be $12000 in 2020 because crypto has a lot of demand at present.

[Oxygen 1004]

On 12/12/2019 at 2:58 PM, Satya31 said:

According to today's condition of market and the growth of volume of crypto I think there is a probability that bitcoin will cross $12000 in 2020 definitely. Also the bitcoin chart analysis gives a little bit hint of this. 

Yes for sure it will. as in current year 2019 it hits nearby $14000 so it is expected that it will definitely hit a $14k+ Mark.

[Wijayafajar06 274]

This prediction is likely to occur because Bitcoin will experience an escape of $ 12 in 2020, possibly at the end of the year.

[CryptoLover21 0]

On 12/12/2019 at 3:45 PM, Migo said:

This prediction is almost believable and maybe can happen in the next year, it has been a long time since the price was at 12k maybe in the first trimestre of 2020 will come back 

Yes there is chance to go back to previous price, and it may also go upto 20k like it was in 2017 or 18 

[Win 1015]

I think yes my prediction is 2020 will cross the bitcoins all time record high.also include altcoins as well as doge coin.be prapare becouse next year bitcoin bullish is comming.

[pakjobhelp 1585]

According to the market situation and demand of bitcoins the price of bitcoins increase day by day people who trade with bitcoins they purchase and store the bitcoins and exchange when prices goes to the top level. The result of this act a short fall of bitcoins occurs.

[Badhon420 126]

Clothing who the money necessary for bitcoin is erratic which means we tend to simply cannot assert what is going to manifest an excellent time. And yet I'm assuming the money necessary for bitcoin raises and yet I just am not aware what’s the exact number, I'm assuming $15k-$16k. It is in my circumstances.

[duncun007 3577]

On 12/12/2019 at 9:48 PM, wrayaner said:

Bitcoin will reach the ceiling of $ 12,000 and exceed it within the first months of 2020, because Bitcoin cannot continue to be at this level

yea i think now we are at accumulation levels and we will stay here for a few months between 6500$ to a little bit over 8000$ but we will be going up around march.

[Amir Vao 341]

No one can exactly say that bitcoin will go this price in the next year. But people can predict about the bitcoin price. But it doesn't impact on it's price. Many experts predict that in 2020 btc will cross the highest price of bitcoin.

[Sumayya 493]

On 12/12/2019 at 1:39 PM, Badman001 said:

Yaa according to some experts the BTC prise is going to be to high at the end of 2020 and lets see what happens good luck..

The price will be high, we expect to see above $10000 soon as per their prediction

[Satya31 865]

On 12/26/2019 at 9:18 PM, butyrka1986 said:

I am almost 100% sure that Bitcoin will cross the border of 12k and even a little more before halving. Judging by all the previous bitcoin halvings, this will happen, but after that we will see a fall again, but maybe not lower than 10k.

Yes I am also pretty sure about that 12k border line. As the all people saying and all replies also are positive about that. So this is a big chance. But i don't think when the price will come down it can stay up to the 10k level. According to me it will come below 10k around 6500 or 7000 dollars after some time. 

[Amir Vao 341]

It's your think that bitcoin will cross $12000. But no one can say exactly price of bitcoin when it go where. Many experts also predict that bitcoin will go $100k  in 2020. But I will say in my of view that in 2020 bitcoin will cross it's previous high.

It's your think that bitcoin will cross $12000. But no one can say exactly price of bitcoin when it go where. Many experts also predict that bitcoin will go $100k  in 2020. But I will say in my of view that in 2020 bitcoin will cross it's previous high.

[CryptoMaxim 3829]

On 14.12.2019 at 08:53, Rifat773 said:

Yes I think Bitcoin will cross $ 12000 in 2020. Bitcoin is increasing its propulsion in large quantities. In it people can earn free income. If Bitcoin crosses $ 1200 in 2020, it will be good for us

At the expense of a few days, I'm not sure that the price will be higher than 12K. But if everything is as in the past 9 years, then in 2020 the price will go above 14k dollars.

[Win 1015]

Yes it will.for me untill 20,000 dollars i hope it will happen.we will see halving this year.2020 is the year of year of crypto currency specially the bitcoin so just hold and wait for the bullish maybe mid year of 2020.

[andrehol 16294]

Of course, $ 12,000 is not at all a big price for bitcoin. In 2020, halving will increase the interest of the population in cryptocurrencies, which means that the price of bitcoin will increase significantly!

[Syed Rehan 231]

Now, the bitcoin face a very tough resistance. And when the bitcoin breaks this resistance then the price of the bitcoin increases in the up coming year 2020.

And i am also waiting for this that when the bitcoin price increases.

[Jeet Narayan 1940]

I don't think so, bitcoin will not reach $12000 in The here 2020 but from my opinion Bitcoin price will go around $25000 to $30000. We can't say actually about price let's see what happen next.

[AlexGreyCryptoman 73]

I think yes. The closer we get to the last bitcoin mined, the more expensive it will become. But this is a question of 2-3 years.

[Jeet Narayan 1940]

Definitely bitcoin price will reach $12000 or more. In 2019 Bitcoin was goes $14000 and continually it price goes down and now 2020 very much chance it is good high. 

[DidaNahrisya 165]

Yes very possible, and likely just not 12k but we gonna reach 20k after halving, from now im always buy bitcoin every deep