What Will Be Bitcoin’s Price in 2020? Leading Analyst Explains

Bitcoin
Source: Shutterstock

What Will Be Bitcoin’s Price in 2020? Leading Analyst Explains

Adaptive Fund Partner and analyst, Willy Woo predicts that the Bitcoin bull market will undergo three phases. The three phases namely are accumulation, steady climbing phase, and the bullish breakout phase. 

May 2020 – The Best Time To Play With Bitcoin

Source- Twitter

Willy Woo explained that we are undergoing an accumulation phase, which will pave way for the second phase which will witness a steady climb in Bitcoin price with low volatility. He further said that in the present case scenario, Bitcoin will enter the 2nd phase a few months before May 2020 halving. Wherein, a bullish on chain-structure will walk hand in hand with front running. This will be the best time to play with Bitcoin. 

Source- Twitter

He further said that once Bitcoin price crosses $14k, the second phase of the bull market will start. It is likely that it will happen at the starting of 2020. Furthermore, it will be the best time to stake funds in Bitcoin. 

He further commented on investor behavior which is largely bearish. While the trends continue to be unperturbed for a long time now, he believes a bullish structure shall be visible by next week.  Also, if powered by organic investment, bullish on-chain action can take a month before it ultimately gets reflected in the price. 

A look at Bitcoin Price Trends

Bitcoin appears to be nurturing a bullish momentum towards the end of the European session. Further, the Bitcoin price is displaying a triangular pattern.

Source- Trading View

Tone Vays Suggests A Long-Term Bullish Reversal

Per Tone Vays sequential analysis, the historic break on 25th October signals a long-term bullish reversal. However, it is subject to confirmation with this week’s close.

So I would need to see pretty much $10,000 broken by next week in order to be bullish.

Would Bitcoin price hit $20k by the end of 2020? Let us know, what you think in the comments below!

Summary
What Will Be Bitcoin's Price in 2020? Leading Analyst Explains
Article Name
What Will Be Bitcoin's Price in 2020? Leading Analyst Explains
Description
Adaptive Fund Partner and analyst, Willy Woo predicts that the Bitcoin bull market will undergo three phases. The three phases namely are accumulation, steady climbing phase, and the bullish breakout phase. 
Author
Publisher Name
Coingape
Publisher Logo
Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: Supriya Saxena

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

Post your comment...
Supriya Saxena 189 Articles

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

Follow Supriya @