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Crypto Analyst claims that Bitcoin May reach $20,000 mark by early 2021

bitcoin prices may surge high analysts

The crypto greens of 2017 that took Bitcoin all the way to almost twenty thousand dollars (20,000 $) are something that raises hope in the crypto sphere for another bull run.

Since the price of the token cooled down one thing that was set was that people started predicting future trends through analyzing and realistic stats instead of desires of cash and whatnot.

Currently, the trend of Bitcoin’s price action shows that the token may soon see huge greens that take it up to twenty thousand dollars (20,000$) by 2021.

Analysts recorded the pattern of Bitcoin’s price from 2014-2016 – from where it started to rise rapidly – and compared it to the market cycle seen today. The patterns closely resemble each other, and last time the market started seeing green from this point on. In a tweet, Rhythm Trader stated that though history does not repeat itself, it does rhyme.

Rhythm Trader also stated that if a stable foothold is established the token can start climbing. The token if follows through, it may even reach new heights. The token can achieve new all-time highs in the first quarter of 2021.

The difference between the two patterns is the trading volume. Currently, the trading volume is very high despite a market collapse occurring months ago.

However, many other analysts claim that the price will go further down as the short-term trend being followed now is similar to a previous trend, which was followed by a downtrend. The analyst predicted that the price might even fall below the $3000 mark if it repeats the previous trend.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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