Bitcoin, the most valued cryptocurrency since its creation has been the topic of discussion in the cryptocurrency market for weeks now. Since the cryptocurrency broke above the $10,000 mark, which it has since been dabbling between, the perceived bull run began to make headlines as analytical predictions have increased in their numbers. The majority is certain that the bull run could send Bitcoin to $20,000, a price point that Bitcoin almost achieved in December of 2017, but peaked at $19,783.
Five years later, Bitcoin is still yet to retest those highs, hit $20,000, or break through the price mark. But still, market sentiments are still very much unchanging; Bitcoin is headed to $20,000, and the price movement pattern is so bullish that analysts are convinced that the next two months could be the hottest in the cryptocurrency market. Some of the most bullish Bitcoin price prediction following that statement has trailed the Twitter space from both analysts and investors. Even if they all resound the same sentiments, some analysts are calling $20k faster than others.
Analyst and Bitcoin trader MoonCarl, is of the opinion that volatility has found its way back to the pattern in the last 24 hours, around the time when Bitcoin dipped at $13,000. The analysts want traders to not throw caution to the wind, even though he’s still entirely bullish on Bitcoin.
After Bitcoin broke $13,000, MoonCarl is convinced that $20,000 is easily the next target, while $15,000 could be crossed in no time. Tyler Winklevoss, the cofounder of Gemini exchange noted that Bitcoin is still $5,000 below its all time high, hinting that the market is about to see Bitcoin cross those levels. Cryptocurrency Investor Mike Novogratz is also drawing attention to Bitcoin as a low-risk asset, “it’s being de-risked daily,” he says.
At press time, Bitcoin is down by 3% since yesterday, with a price of $13,075. Breaking past Sunday’s high of $13,359, Bitcoin just got rejected only $20 away from a new yearly high, and analysts are more than certain that $14,000 is closer than it has ever been.
If the bulls resist pressure at this point and gains continue to build up, then like MoonCarl predicts, $14,000 is in his words, “extremely close,’ and once that price mark is achieved, Bitcoin will not be hindered by trying to break resistance till $20,000 and with the market’s pace from last week, this could happen any moment from now. On the other end of the spectrum, altcoins are reasonably managing losses as mild price dumps are taking place, but it’s useful to note that some DeFi coins are still raking in gains at this time.