Bitcoin is unlikely to reach $ 20,000 by the end of the year

According to the analytical firm Skew, the likelihood that the Bitcoin exchange rate will reach $ 20,000 by the end of the year is very small – no more than 7%.

Researchers note that the longer the price of Bitcoin is below this mark, the less likely it is to reach it at all. At the moment, according to analysts, the likelihood that Bitcoin will reach $ 20,000 by the end of the year does not exceed 7%. However october should become “Interesting” month for the first cryptocurrency, since this month two applications for bitcoin ETFs should be considered.

Analysts believe that, most likely, the powerful growth of bitcoin will have to wait until May 2020, when the mining reward halves. In the entire history of Bitcoin, this happened twice and every time the first cryptocurrency went up in price after halving the award.

Note that if the US Securities and Exchange Commission (SEC) approves applications for the launch of ETF bitcoin, then this may push the price of the first cryptocurrency up. Equally important is the launch of a platform for Bakkt institutional investors. However, Bitcoin is unlikely to reach historical records this year.

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The other day, the founder and CEO of the consulting company deVere Group, Nigel Green, expressed the opinion that the new “bottom” of bitcoin is now at around $ 10,000. Last night, the first cryptocurrency rate lost more than $ 600 in half an hour, and at the time of publication, bitcoin is trading at around $ 9,600.