After ending 2019 with the price of around $7500. it was expected that the bitcoin price in 2020 will rise. But what about the next move. Reveal it right now.
Bitcoin Price urges $8500 in Jan 2020
Bitcoin started 2020 with a price of around $7200. On 1st and 2nd Jan 2020, it hovered over the same price range.
But on 3rd it showed a lower price range of around $6900. Many started to predict that likewise in past bitcoin will again move towards a $3500 price range.
Bitcoin whales found an opportunity and soon they manipulated and the bitcoin price increased. The bitcoin price is now hovering at around $8500.
Bitcoin Next Move?
This is the most interesting part. What is the next move of Bitcoin? So you will find here a fundamental analysis of bitcoin.
As we look in the above table in Bitmex & Binance peoples doing long are 51% & 50% respectively. On the other hand, peoples doing short are 48% & 49% respectively. So the difference is 3% in Bitfinex and 1% in Binance.
This concludes that bitcoin will stay stable in the upcoming days.
But given that whales play a huge role in Bitcoin’s price, it may jump above $9000 or can dump below $7500 also.
Bitcoin price in 2019
Bitcoin’s price was around $3700 at the starting of 2019. It started to rise after 15th March 2019.
It rose slowly and steadily. On 27th June 2019, it touched its yearly high of $12000. This was the time when it was predicted that the bitcoin price will move towards $20000. But again whales came into the action and at the end of the year, the bitcoin price was just around $7500.
If we predict the price of bitcoin with its history in 2019, it will take at least 3 months to show a pump or dump. Till then it should stay around the price of $8500.
Is it good to invest in Bitcoin right now?
At this point in time, most peoples think that I will invest when the price will be below $7500. When the bitcoin price will be $7500 they will think I will invest when the price will be $7000. But this is the point where they lose.
There is no specific time for the best investment. If you invest in the long term you will gain huge profits. According to the Coin market cap, Bitcoin has given ROI of 5169% in this decade.
If you invest just $100 right now I bet you will have made a very handsome amount of profits after 10 years from now.
What are you waiting for? Invest in Bitcoin right now.
- Bitcoin moves to $8500 in Jan 2020.
- It is expected to stable for at least 2-3 months.
- The best time to invest in Bitcoin is right now.
What do you think about the bitcoin price in 2020? Will the price increase or decrease?