There are chances Bitcoin exceeds its previous $20,000 all-time high this year, blockchain research and analytical platform Skew has said.
While Bitcoin continues to stagnate below $10K, Skew, in an illustration, revealed that the leading digital asset still has a chance of surpassing previous high, using June, September or December as a point of reference.
Bitcoin has managed to display some signs of growth and profitability in the last few months, but the $10,000 level remains a strong resistance for the leading digital assets. This makes a number of investors show skepticism about Bitcoin’s possibility of rising beyond $20,000 this year.
Nevertheless, analysts and traders in the crypto community have opined that the post halving would be really great for Bitcoin, and Bitcoin could rise to $100,000 or more before 2022.
With five different tests on the $10,000 mark in the last 11 days, one may want to believe that Bitcoin can still be very bullish before the end of the year.
Using an illustration, Skew displayed the probability of Bitcoin surpassing $20 in three different months. The analytical platform revealed that the chances Bitcoin surges past $20,000 this year is low, nevertheless, it is not out of place.
In an analytical probability research, Skew captioned that the chances Bitcoin goes past $20,000 by December is 9%. Skew, in the graph, further showed that Bitcoin could also rise beyond its previous high by June or September
The graph also indicated that Bitcoin has 8% and 3% chances to rise beyond $20,000 by June and September respectively. However, there are 0% chances Bitcoin surpasses $25,000 this year.
#bitcoin at new all-time-high (>$20k) at the end of the 2020?
Options market say 9% probability, what do you think? pic.twitter.com/1L6hlo8k5A
— skew (@skewdotcom) May 19, 2020
Researcher Philip Swift Says Bitcoin’s Next Stop is Above $20,000
A statement issued by crypto market researcher Philip Swift signals that Bitcoin’s next possible stop is $20,000.
Philip mentioned that he used the 2-Year Moving Average Multiplier indicator to arrive at such a prediction. He said after Bitcoin broke above the 2yr MA, it has been very bullish in the market, adding that we have the chance to hodl before hedge fund guys find interest in it.
Concluding, Philip said Bitcoin’s next stop is $20,000.
Investor Tool update: $BTC has been super bullish since it broke out above the 2yr MA. We got our chance to accumulate below it b4 the hedge fund guys got all excited about Bitcoin
Next stop now the 2yrMA x5 (red line)
— Philip Swift (@PositiveCrypto) May 19, 2020