Could  Bitcoin Hit $10k Support By End of 2019
Crypto Guide
Live News

Keeping up with all the cryptocurrency news and updates is not an easy task, but we are up to the challenge! This way we can help our readers to keep track of changes in these fast growing currencies. Just like our site, lambo2btc.com is willing to face this challenge and on their site, they compile the features, key elements, and recent news involving bitcoin casino sites and which are the best to try!

Could Bitcoin Hit $10k Support By End of 2019

November 27, 2019      Richard M Adrian

The idea of Bitcoin swinging back to $10,000 by the end of the year is pretty unlikely. However, according to PlanB, hitting that price next month should not surprise anyone.  A twitter analyst and creator of probably one of the most accurate bitcoin price models suggested the BTC/USD pair could easily turn to five figures by 2020. 

Imminent $10K BTC bounce 

So the Twitter analyst wrote in a tweet: 

“Call me crazy, but it wouldn’t surprise me if BTC closes 2019 at $10k+ .. opportunities like this (#bitcoin below S2F model value, 6 months before the halving) are rare,”

Well, the prediction denotes a more than 40% price gain of Bitcoin from its current price position. However, this is a fit that the coin has already achieved given that last month it rallied upwards by 42%. In fact, it was the coin’s second-biggest daily jump for the 2019 bull run. The analyst was citing the current Bitcoin position on the price charts against the under-performing stock-to-Flow price movements. 

The BTC/USD pair is way below the tool’s price estimate by a whopping $1,200. However, according to further referencing, it could call for an average price anywhere above $8,300 by the end of May 2020. Especially given the significant May 202 bitcoin reward halving. 

Meanwhile, don’t forget the mix of several bearish sentiments previously reported by our analyst-; which have rather caught the crypto market’s attention. Willy Woo, a known statistician and analyst claimed Bitcoin’s perfomance could hit bottom lows of $5,500 for months before rising. In fact, noting the unique trend of the market this year since prior bitcoin halving came after bullish price actions. 

Woo: $8,300 in November to skip the bear market

Giving a response to PlanB, Woo’s sentiments appeared rather than predictive of a $10, 000 but unless BTC markets closed the current market somewhere around $8,300. He wrote: 

“We’d need to close above 8300 by the end of the month (4 more days), or we’ll likely have a bearish December to test new lows.” 

 

READ  Income Tax Department of India secretly training to investigate Cryptocurrency

 

#Bearish November #Bitcoin markets #BTC News #Bullish signs #Crypto News #Cryptocurrency #Cryptocurrency Market #Cryptocurrency News #market analysis
Richard M Adrian
Richard M Adrian

Blockchain Analyst with a demonstrated history of working in the writing and editing industry. Skilled in WordPress, Editing, SEO Copywriting, Copy Editing, and Blog Marketing. When I am not writing, analyzing bulls/bears - I will be listening to music, reading a thrilling novella or hiking. Email me at Richardmadrian@gmail.com - And we could talk about anything - business or dragons.