One such phenomenon is ‘decoupling.’ The price of Bitcoin has started to shift in a direction distinct from that of the S&P 500, which has moved straight down for the past month. This indicates that Bitcoin could enter a protracted consolidation period, but it has already reached the bottom.
Although there will most likely be less money to invest in high-risk assets such as Bitcoin, institutional investment is still feasible, particularly with the potential of closing conventional markets. This will most likely assist with the rehabilitation.
In addition, the third half is predicted to occur by the end of May. Traditionally, the BTC price rose steadily prior to halving and then intensified the rate of growth. This occurrence is becoming increasingly relevant as a result of the current major fiscal stimulus from central banks across the globe. This is supposed to have a bullish impact on limited-supply commodities, such as Bitcoin, as fiat currencies are devalued much further.
After the rapid soaring price until today, Bitcoin (BTC) has surpassed its 2017 all-time highs (ATH) after crossing the highly anticipated $19,860 been at its ATH on November 30, 2020.
The entire cryptocurrency economy has spiked in value considerably and on Monday, November 30, 2020, as there’s over $34 billion in global trade volume. Moreover, out of the 7,500+ crypto-assets in existence, the market valuation is hovering well above the $547 billion zone.
Bitcoin Price Prediction 2020
For December 31, 2020, we arrived at a different price with each method, $21,500 and $16,400 respectively. The principal method suggests the price will continue to increase inside a gradual upward trend and eventually reach $21,500.
Read the full article on our blog here
Affiliate Disclosure: Rekt Money is supported by readers and several affiliate networks. When you buy through links on our site, we may earn an affiliate commission, without adding cost to you.