Please post your thoughts on year end price analysis for BTC/USD price at midnight on Dec 31st 2020!
Hard to predict at the moment . I would say bullish on BTC this year. If 2020 is not a good year for BTC then we will have to revisit all the BTC thesis statements.
I predict a new ATH for end of year. This will be seen when the rich, hedge funds, institutions, etc have no alternative but to hedge into Bitcoin, since the traditional markets’ collapse.
Especially if it keeps getting harder to get their hands on physical gold.
This is an unprecedented time for our economy. A depression may be coming and it’s perfect timing for the government to release a new economic model. Possibly a digital dollar. It will give them ultimate control.
Due to the fact that Bitcoin is decentralized and pseudonymous, people will start flocking to it.
Once we get out of Covid 19 depression, Bitcoin will be the digital gold
Scarcity will drive the price of Bitcoin. Still lot of people are in a delusion that cryptocurrencies are scam. People start believing in Bitcoin once it reaches 100k. FOMO will drive bitcoin to the peaks this year. Covid19 and Bitcoin-halving will act as catalyst to drive Bitcoin’s price.
I’m guessing Bitcoin will touch 25-30k this year. Not sure if it holds the price. I’m assuming it will be 15,789 by Dec 2020.