In this post I will not make any predictions as far as Bitcoin can go, but rather I will propose 3 possible scenarios in which the leading cryptocurrency can be developed.
Scenario 1: Trend similar to 2019
The first possible scenario is that Bitcoin remains in similar ranges to 2019 (US $ 3,200 to US $ 13,800). It would not be something negative, since it would give high returns buying at this level.
Scenario 2: New historical maximum
This scenario, perhaps the most likely, is that Bitcoin exceeds the historical maximum of US $ 20,000, recorded there by December 2017. In case of breaking that level you can go very fast up to US $ 25,000, then follow your bullish escalation .
Scenario 3: Bitcoin below US $ 3,000
This scenario, the least likely, is that Bitcoin falls below the 2017 minimum (US $ 3,200), seeking targets of up to US $ 2,000, or even less. If this pessimistic scenario occurs, it would be serious for the ecosystem, since the cost of mining a Bitcoin would be much higher than the selling price of a BTC.
- Personally, I think the most likely scenario for this 2020 is number 2, since Bitcoin is "mature enough" to go for more. The 25k would be a good value to achieve at the beginning of this new decade.
- As the Bitcoin Halving approaches, the price should tend to rise.
- Do not forget that there will be only 21 million Bitcoins, of which several million have already been lost forever, which makes it a scarce good. This will undoubtedly sooner rather than later boost its price.
- And finally, if Bitcoin by those coincidences comes to overcome some of the most optimistic predictions (100k or more), caution will be one of the great virtues, since as well as rapid rise it can fall.
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