While Bitcoin strives to stay above the $ 10,000 threshold, analyst Alex Kruger argues that there are multiple arguments for $ 20,000 in 2020 or 2021. He also believes that once the stock’s maximum value is exceeded, the cryptocurrency it will grow rapidly and has the potential to reach $ 50,000.
“Overall, the positive arguments are considerably more than the negative ones in my opinion. The BTC will eventually reach $ 20,000 in 2020 or 2021 and, after doing so, should rise rapidly to $ 30K, $ 40K and $ 50K. We have to take this waiting time, but it will be satisfying to see others pushed by FOMO on the market. ”
17 / Bigger picture, the upside is IMO considerably larger than the downside. think $ BTC will eventually break through $ 20K, in 2020 or 2021, and once it does, it should trade $ 30K, $ 40K and $ 50K fast. Must be long for when that happens, and enjoy the ride as others FOMO in. pic.twitter.com/A2Kv8jQmqU
– Alex Krüger (@krugermacro) August 17, 2019
Up to $ 20,000, it may drop to $ 8,500
Alex Kruger also addressed the debate about a possible drop in bitcoin prices to $ 8,500. This is the midpoint of the current performance of 2019 and is argued by some analysts for the difference in CME futures at this price level.
For Krüger, CME futures contracts are not an indication that there is no significant support or resistance. He points out that these derivatives do not have as much influence as the non-stop trading activities that take place on the spot market.
However, Alex Kruger confirms that if Bitcoin drops below $ 9,000, there is a likelihood of a steep drop to $ 8,500. In his opinion, such a decline should be considered a buying opportunity, in preparation for the future upward evolution.