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What will happen to Bitcoin exchange rate in 2020

FXcoins - What will happen to Bitcoin exchange rate in 2020

Experts trading platform Bitmex made a loud statement that Bitcoin could become significantly cheaper in short period of time, however, there is a possibility of short-term growth of its value.


Bitcoin exchange rate in 2020 could fall to a value of $ 2,000, it was stated in Twitter account research Department Bitmex. Experts say that the price of the first digital coins will not fall lower than $ 2,000, but will not rise above $ 15 000.


Analyst portal LiveBitcoinnews Ayash Jindal pointed out that the decline in the price of Bitcoin will be short-term, however, it should be prepared. He believes that the currency will soon test support formed at $ 7,000. If Bitcoin cannot survive the influx of investors, the asset will continue to fall in price to a Fibonacci correction level of 0.76, located on 6 730 dollars.


Macroeconomics Henrik Zeberg released a chart of Bitcoin, which indicates that the course moved into the phase C, according to wave analysis Elliott, these data indicate a long term decline in value of an asset that will last for years. Further, Seberg continued - “Bitcoin should fall to $ 2,000 under the waves, broken into five peaks. The second and the fourth vertex set a downtrend. I will buy Bitcoin, but not before he drops a course prior to the fifth vertex”.


Ayash Jindal added, “the support at around $ 7,000 can withstand, and in this case, it appears the likelihood of a rise in price of Bitcoin. The coin will go into the growth phase, if the course will be able to overcome the resistance levels at 7 680 7 720 dollars.”


The well-known trader and analyst Nebraska Gumer also spoke in favor of the rising value of Bitcoin. Days earlier, he compared two sections of the chart coins for different periods, suggesting that the change in its course can be predicted by his previous hesitation. At this stage, the assumption of Guner remain accurate based on the charts he made a prediction which says that in coming months the price of Bitcoin will jump to a value of 9 000$. However, if the rate of coins will not be able to gain a foothold above $ 10,000, it probably will update the annual minimum.


In support of Guner expressed famous trader Peter Brandt. He recently published a video podcast, where it was shown that the rate of Bitcoin crossed the stage of parabolic growth, so the price of a coin can exceed $ 100,000, however, this will not happen before 2021. On the weekly chart Bitcoin formed a bullish triangle with vertices at 20 000 and 14 000 dollars and the bottom at $ 3200. At the moment the upper limit of this figure is at the level at 11 000 dollars. If the price of the coin will be able to overcome it, it will make her rally.

03 February 2020

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