Bitcoin, undeniably the most popular cryptocurrency out there has had a somewhat volatile year. While the price of one BTC was wavering around USD 3,150 towards the end of 2018, in June 2019, the cryptocurrency jumped 330% to the impressive USD 14,000.
While this surge didn’t last very long, and the price started dropping towards the end of the summer, BTC had its significant recovery in 2019. But what does that mean for the cryptocurrency in 2020?
Bitcoin in 2020
While the 330% surge Bitcoin saw in 2019 is the shortest rise in price the coin has ever seen, 2020 remains a mystery.
There is a strong possibility for Bitcoin to experience more bull runs throughout 2020. However, there are numerous factors that can affect the price of one BTC. Cryptocurrency enthusiasts and trend analysts on Twitter seem to have opposing opinions.
Some believe that Bitcoin is going to experience an echo-bubble in 2020, before crashing, or hopefully settling down:
For all of us I sure hope this isn't the cycle we're really in… pic.twitter.com/opLCQ3h48l
— A Voice of Reason in a Sea of Insanity (@sometrader78) November 11, 2019
This theory is based on the fact that fluctuation patterns resemble the surges just before the big crash of 2018.
Volatility
Even if we have such predictions, no one can tell what Bitcoin will be worth in 2020. Several socio-economic and political factors are bound to have an effect on the way the price of one BTC moves in 2020.
One of the significant factors for this volatility is going to be the 2020 US Presidential elections, as the US is one of the several major BTC markets globally.
Hopefully, 2020 will be a good year for BTC investors and traders, as 2019 was filled with ups and downs.
Featured Image by Pixabay
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