Bitcoin made it to its all-time high on December 1st, 2020, reaching 19,799$ in a major bull run. The bull run was most possibly triggered by the post-halving momentum. The mining rewards for BTC are reduced by half to 6.25 BTC, while Bitcoin dipped to the present price of 17,979$. What are analysts predicting for Bitcoin price in 2020 and 2021?
Bitcoin Price Prediction for 2020
- Bitcoin reached a new ATH of 19,799$ on December 1st, 2020
- Bitcoin dipped below 18,000$ in the second week of December
- Analysts are expecting to see more rises by the end of 2020
Bitcoin started to dip after reaching an all-time high, dropping below 19,000$ and getting back to 19,300$ on several occasions. With the latest price correction, BTC first dipped to 17,700$, rising back up to above 17,900$ on the same day. Analysts are convinced that the post-halving momentum is still set to drive the price of BTC up to and perhaps back at its ATH. At the present moment, BTC is -10% away from its record price, while it is a realistic expectation to consider having BTC getting back to its ATH. When it comes to long-term predictions in the next 30 days, analysts consider BTC to be a BUY, according to 14 out of 24 analysts who shared their forecasts for Trading View.
Bitcoin Price Prediction for 2021
- Bitcoin may go through another serious price spike at the beginning of 2021, most possibly driven by the hype of starting a new year
- The price of BTC is expected to fluctuate into 2021, while many analysts consider that BTC would be able to find strong support levels at its all-time high during the year
- BTC may start the year at its ATH, however, dips are expected as the price of BTC still doesn’t have enough stability to stick to a fixed value
In 2021, the present bullish trend may continue to push the price of BTC up, reaching 20,000$ as the next potential price target. However, once the trend gets exhausted, which may already be in the second half of January, BTC may see new lows as market cycles are in a constant change.
Image credits: Cover photo taken from Micheile Henderson on Unsplash
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