According to analysts from the financial company Canaccord Genuity Capital Markets, Bitcoin can reach $ 20,000, but not earlier than March 2021.
Financial analysts Michael Graham and Scott Soo told their clients that the chart presented by Canaccord Genuity Capital Markets has striking similarities in the trading patterns between the periods 2011–2015 and 2015–2019, and if the trend continues, the hodlers have the opportunity to “change their fate.
However, they will have to wait another two years, until March 2021.
“Looking into the future, provided that Bitcoin continues to follow the same trend as in 2011–2017, implying that BTC will reach the bottom now and will soon rise to its historical maximum of ~ $ 20,000, theoretically reaching this level in March 2021 years " , – write the experts.
The company also points to improvements in scaling and growth in emerging market countries is a possible catalyst for a return to the $ 20,000 mark.
“Despite the fact that this time there is a different dynamics than four years earlier, we point to several obvious catalysts that could raise the price of bitcoin in 2019. Thus, it is expected that institutional solutions for the storage of cryptocurrencies from Fidelity Digital Assets will appear in the first half of 2019, ” analysts write.
This pattern suggests bitcoin could be en route to $ 20,000, in one chart https://t.co/ZOa5yVaAFl pic.twitter.com/AnOm5hINRX
– MarketWatch (@MarketWatch) March 4, 2019
Last month, Charlie Lee, the creator of Litecoin , predicted that Bitcoin would reach $ 20,000 "over the next 3 years."
Charlie Lee obviously has a great intuition when it comes to predictions of the cryptocurrency market. Back in 2017, the creator of Litecoin sold its entire portfolio of digital silver during a bullish rally in December 2017, correctly predicting the start of cryptosis in 2018.
Both forecasts are in strong contradiction with the notorious bitcoin price forecast from John McAfee that a BTC by 2020 will cost $ 1,000,000.
Although the current trend line clearly shows that McAfee’s forecast is far behind the stated price, John himself adheres to the date: December 31, 2020.
People are waving up to $ 1,000,000. But when? "Someday." "Maybe 5 years." "WIthin a decade." I’m only one date for you: Dec 31st, 2020. https://t.co/rst3BcypFz "will-be-1-million-someday-says-jesse-lund-vp-of-blokchain-at -ibm.html
– John McAfee (@officialmcafee) February 22, 2019
Publication date 09/03/2019
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