When will Bitcoin hit $20k?
Bitcoin price vs active addresses

When will Bitcoin hit $20k?

By Cryptofab | Cointune | 2 Dec 2020


As Bitcoin officially recorded a new All Time High recently, everybody is now looking at the $20k target.

When could it be reached? Several key parameters have to be analyzed:

1) Holders Making Money at Current Price: 95%... This is pretty high, therefore the question is: are they mostly hodlers or traders?

2) Concentration by Large Holders: 9%... This is really low. Maybe we give too much importance to the whales. The 91% of small holders make the price

3) Holders' Composition by Time Held: 88% at least one month, and 64% at least one year... This is clearly a positive sign, most of us are so called hodlers

So, what's next? Looking at the Bitcoin price trend, it currently looks bearish, which is quite logical since $20k is a resistance. However, on the other side, $19k is becoming a support. Therefore, Bitcoin will likely remain within that $19k-$20k range for a while, probably a few days, before breaking out $20k.

Once it has passed $20k, if it does not collapse immediately (it really depends on us...), it will explore new areas... And the next step will be $21k at least.

For the time being, an option is to exchange a portion of BTC in ETH, XRP and some other altcoins in order to benefit from their higher volatility.

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Cryptofab
Cryptofab

I do not want to change the world, but I can contribute to it.


Cointune
Cointune

Crypto, DeFi and passive income.

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