Bitcoin is a true king of crypto world. It has proved its worth several times in past and this time too. Went down to 4k and up again to 11k. However this time it will not stop at 20k all time high. It will go beyond this level.
Several factors are involved to push the price higher and higher.
Key three factors are:
1: Instituations are in the drving seat.
2: Bitcoin reward halving
3: Macroecnomic situation
During the last bear market lots of big instituations are involved in crypto space. They accumilate a lot.
Bitcoin halving is in May 2020 and it will decrease the amount of mining reward. So demand and supply matters.
The world ecnomic situation is in a bad shape. Experts are warning about global reccession.