Although the Bitcoin price hit an all-time high in 2020 on Tuesday, some analysts said they expect only more obstacles to exceed the 2017 all-time high (ATH). For example, David Derhy, a market analyst from Etoro, expressed his desire to increase the price to $20,000 instead of $12,000.

  • Some traders and popular cryptocurrency analysts believe that Bitcoin (BTC) only needs to cross the $14k area and start from there. The 2020 ATH on Tuesday was US$13,684, slightly lower than last year’s ATH, which was US$13,796 per bitcoin, which was completed on June 26, 2019.
  • Macro strategist Raoul Pal (Raoul Pal) said on Tuesday that there are only two major BTC price resistance levels left. “On the Bitcoin chart, there are actually only two resistance levels left: $14,000, and then a record high of $20,000,” Raoul Pal tweeted on Tuesday. “I am most looking forward to setting a record high by early next year at the latest.”

If Bitcoin passes $14K, analysts say traders “should watch $20,000” instead of looking back

  • Simon Peters, a senior market analyst at Etoro, explained in an investor report this week, “People’s concerns about economic stimulus may spark a Bitcoin fire.
  • Peters wrote: “We may also see an increase in inflation. This is another important aspect of Satoshi Nakamoto’s view of the modern economy that prompted him/her/they to create Bitcoin.” “Seeing this will How to influence the connection between Bitcoin and the stock market will also be interesting.”
  • “With the merger of BTC, Okex futures order book requirements have been withdrawn/executed in the market within the last few days,” the popular cryptocurrency analyst jokingly dubbed “Light”, telling his 25,000 Twitter followers on Tuesday . Light added: “In the short term, the possibility of breaking $14k is increasing.”
  • In the same investor note, David Derhy, a market analyst from Etoro, pointed out that people should “expect $20,000, not $12,000.”
  • Derhy wrote this week: “The current rally may climb all the way to $14,000.” “If so, then from a technical and fundamental point of view, the next level will be $20,000. With the US election next month As we approach, even if the scale of the stimulus is still to be discussed, the government will still take further economic stimulus measures. I don’t think it will fall below $12,000 for the time being.”
  • Just recently, “Oracle” Vinny Lingham (Vinny Lingham) also issued a similar statement, and does not expect the price to fall below $12,000 in the next 30 days.
  • At the same time, the hash rate of Bitcoin (BTC) has plummeted 45% in the past three days.
READ  'Oracle' Vinny Lingham expects Bitcoin to fluctuate sharply and BTC price may maintain a volume of $12K within 30 days

How do you think the price breaks through the area of ​​$14k, and what do you think will be the price of $20k next? Tell us what you think in the comments section below.

Tags in this story

$14K, $20K, analyst, bitcoin, bitcoin (BTC), BTC, chart, cryptocurrency ceiling, cryptocurrency market, David Derhy, Jack Sparrow, light, market price, market, Okex futures, price, price and Market, Raoul Pal, Satoshi Nakamoto, Simon Peters, Trader, Values, Vinny Ringham

Picture Credits: Shutterstock, Pixabay, Wiki Commons, Bitcoin Wisdom,

Disclaimer: This article is for reference only. It is not a direct offer or solicitation of an offer, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. The company or the author is not directly or indirectly responsible for any damage or loss caused or allegedly caused by the use or reliance on any content, goods or services mentioned in this article or related thereto.