Bitcoin’s Next All-Time-High May Be Lower Than Many Expect; Levels to

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Towards the end of 2019 that lackluster price action experienced by Bitcoin had led many investors and analysts alike to grow increasingly bearish on the cryptocurrency, and discussions about BTC surging to fresh all-time highs were far and few between. This has changed in the meanwhile, however, as the uptrend the cryptocurrency has been caught within throughout 2020 appears to have revitalized bulls, leading many investors to begin offering their predictions for where the crypto could travel to at the peak of its next parabolic rally. One prominent analyst is now noting that Bitcoin’s peaks during its next major uptrend may disappoint some optimistic investors, and some economic models seem to agree with him. Currently, Bitcoin is trading just a hair below the $9,000 level, which marks a massive climb from its 2020 lows of $6,800 that were set in the first few days of January. Although Bitcoin is still struggling to decisively break out of its macro downtrend, many investors are now taking sight of significantly higher near-term price targets within the five and six figure price ranges. These predictions may be overly optimistic in the short-term, but Josh Rager – a prominent cryptocurrency analyst on Twitter – explained in a tweet from earlier today that he does believe BTC will reach highs of $75,000 or $85,000 during the next major uptrend, but this is still a far cry from the astronomically high predictions offered by some analysts and investors. Bitcoin’s stock-to-flow model – which was crafted and popularized by prominent Bitcoin analyst PlanB – seems to concur with Rager’s assessment, as it suggests that Bitcoin’s next major uptrend will lead it up towards $100,000. Although a run to $75,000 may disappoint some overly bullish investors, it is appearing increasingly as though this is a strong possibility, which may mean that 2020 will continue to be a great year for BTC.

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Bitcoin’s Next All-Time-High May Be Lower Than Many Expect; Levels to:

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