Bitcoin Price to Reach $9,000 Before 2020 Ends

Bitcoin Price to Reach $9,000 Before 2020 Ends, Crypto Analysis Says

• The situation with Bitcoin looks similar to that of 2017 when everybody looked the other way and then the price skyrocketed, an analyst says
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As the year draws to an end, bullish forecasts on the BTC price arrive one after another and bigger than previous ones, due to the approaching halving in May 2020.

John McAfee stands by his $1-million forecast; Tim Draper believes that women in retail shopping will take BTC price up to $250,000.

Others are being cautious with their predictions, keeping in mind predictions that people were making when Bitcoin, Ethereum, XRP and other coins hit their ATHs in early 2018. Back then, the crypto winter arrived instead.

However, some are expecting more modest bullish price moves or are just hinting that the situation for BTC may change radically.

‘It looks like we're entering that last phase, similar to $BTC in 2017’

Analyst @CryptoMichNL does not throw around hyper bullish predictions but rather hints that Bitcoin price may surprise the market after 2019 is over. He says that, similarly to 2017, the mainstream trend for investors is equity markets and outside the present crypto community people are not considering investing in Bitcoin.

‘The bull market will start above $8,100’

Another analyst, known as simply ‘Mac’, expects that a new bull market will commence as soon as Bitcoin makes a weekly close above the $8,100 price mark. This is a x2 yearly and monthly resistance, he states.

However, he seems to believe that a bearish scenario would be more realistic and still expects BTC to plummet to $5,500. In the comment thread, the trader says that today a price dump could happen.

$7800-$8100 region is set to become a x2 yearly + monthly resistance.

A weekly close above this region and I will officially say a "new" bull market for $BTC has started.

I don't see that happening for a few months.

$5500s waiting.

Aside from that, the trader believes that before 2020 is over, the market will see Bitcoin hit $9,000.

Dumping to $6,900?

Analyst @filbfilb has posted a BTC chart similar to what the situation was in August 2018, as becomes clear from the guesses made in the comment thread. Users believe that the BTC price is about to drop to the $6,900 level.