Record-Breaking Possibility of Bitcoin Price Announced in 2020
Although Bitcoin (BTC) made a pretty good 2020 start, the fall on March 12 has reset almost everything. It took about 2 months for the leading cryptocurrency to recover and return to its previous level, but the resistance above $ 10,000 is still not fully broken.
Nevertheless, it seems that there are many analysts who stated that the BTC / USD trading pair will rise above $ 10,000 to $ 50,000 at the end of the year. Bitcoin being trapped at $ 10,000 leads to the thought that the probability of these analyzes is very low.
Can Bitcoin See 20.000 Dollars Again?
But what exactly is the probability that Bitcoin will set a new record in 2020 and exceed $ 20,000? Looking at the data and account made by the cryptocurrency analysis and research firm Skew, this probability is only 9%. Skew actually does this analysis taking into account open orders in the options market, and this cannot be said to be precise.
Nevertheless, the fact that an important analysis firm like Skew gives such a low probability for the new record should be prompting investors who are in anticipation of bullish thinking.
#bitcoin at new all-time-high (>$20k) at the end of the 2020?
Options market say 9% probability, what do you think? pic.twitter.com/1L6hlo8k5A
— skew (@skewdotcom) May 19, 2020
However, it was proved in 2017 that almost everything is possible in the crypto money markets, the BTC rose from $ 1,000 to $ 20,000 within a year, and a similar uptrend may still be possible.