Will Bitcoin hit $20,000 in 2020?
That has been the question throughout the entire year clear up to the time this article was posted.
We are 9-months into 2020 and we have seen some close teasers.
However!
We have still not yet even passed 2019's ATH for Bitcoin which was still not very close to $20k.
We saw a glitch in the matrix that is "COVID-19" which hindered growth big time.
We saw the infamous long-awaited halving!
We have seen regulations, adoption, advertisements, huge scams, confiscations, a strange recession followed by a strong economy, and so much more.
The year 2020 has admittedly been freakishly bi-polar and that has taken its toll on good ol' Bitcoin.
The year isn't even over yet and we still have more craziness to tolerate.
Although Bitcoin may have withstood the test of time this year.
There is still a little bit of time to make a whole lot of moves.
Just because we can see 2021 just around the corner, doesn't mean we are all out gas just yet.
Many people might think it sounds a little crazy to think that Bitcoin could still hit $20k before the end of the year.
Others would argue that is not the case actually!
Why?
For starters and as stated earlier, an obvious signal is that we have not beaten 2019's high.
The general consensus is that Bitcoin has entered the "Start" of a Bull Run despite this factor which is important to consider.
So while we don't necessarily have to see a high this year to confirm being in a Bull Run
We still cannot rule it out entirely!
To convince deniers even more there are still more things to consider.
Downside can't be ruled out but in recent days we have seen what most would consider to be an unexpected bounce.
Largely because of talks surrounding filling a CME gap at about $9,500 that people have yet to see still.
Meanwhile we are inching our ways back up towards $11k with huge news stories coming out every other day it seems like.
"But Trevor! Isn't October going to be really scary if Bitcoin goes down from where we are now?"
Of course October will be scary! Always has been always will be but don't forget.
Legend has it Bitcoin has a special relationship with Halloween.
Seeing as how that is literally right before the US election days after in November.
There is truly no telling where Bitcoin is going to end up around then.
The only thing that we can say for sure is that it will be an extremely active time period.
Let's say Bitcoin dumps because of a second COVID wave.
The absolute furthest it would go is to $7,000 if we are lucky.
Bouncing from their at the beginning of November would provide plenty of momentum for Bitcoin to Moon again almost immediately after.
In no way am I saying it would increase the likelihood!
It would definitely make $20k harder to achieve before the years end where we would likely not even see it until the end of December.
The point here is that the more Bitcoin doesn't get dragged down between now and November 1st.
The more and more likely it will become that we see $20k sooner rather than later.
For the $100k rumors by Q4 of 2021 to be true we would probably need to hit $20k by at least March of 2021.
That's only 3 months into the New Year!
With a little over 2 months left on 2020's calendar it helps put things into perspective better.
Looking at it this way I would even go as far as to say we have a 50/50 chance of hitting $20k by December 31st still.
Still need more convincing?
Well we have seen Stock Markets & Gold prices correlate with Bitcoin over the Economy recently.
If there is any rhyme or reason to this, we could see a pretty good correction by around Halloween time.
If that ends up being the case it would make it the best time ever to get cheaper Bitcoin before it hikes up next year.
Either way buying up Bitcoin or even good altcoins is a really REALLY good idea right now.
There is still plenty of time to not miss out on the $20k celebrations!
Just know it still could happen a lot sooner than we all may think.
Thank you for reading!
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