Bitcoin Will Hit $20,000 in Next 2 Weeks
Bitcoin has crossed $13,000 now and continues its three-month parabolic move. Bitcoin dominance is now around 62 percent and keeps rising with price as per coinmarketcap data.
Bitcoin is now trading at $13,500 that was the highest price since April 2018. Bitcoin dominance has reached the same point as back in Dec 2017. The highest dominance of 2017 bull market is 65.7 percent.
Altcoins are hit very hard by Bitcoin parabolic movement, as the dominance keeps rising altcoins will drop more. Top 20 cryptocurrencies show strong movement in USD pairs.
Bitcoin outperformed all top 20 cryptocurrencies with 18 percent gains in the past 24 hours, Ethereum follows the steps and gains 14 percent in the past 24 hours.
The total marketcap of the cryptocurrency market is now $381 Billion, where Bitcoin share a $239 Billion marketcap.
Crypto enthusiastic and investors start predicting the possible outcomes of the Bitcoin biggest bull run. Armin van Bitcoin explains about the dominance of Bitcoin in a tweet:
“If a coin is centralized, premined, has low trading volume, isn’t listed on more than one exchange or is pegged to (Bitcoin) only trading, it’s market cap is meaningless. Most coins fit in that criteria,”
eToro analyst Simon Peters claims that Bitcoin price will shot up to $21,000 in the next two weeks and may hit $50,000-$100,000 by the end of the year.
Peters predication is based on the history of 2017 bull run where Bitcoin took 7-14 days to touch $20,000 after crossing $10,000 milestone.
Peters further explained that this bull rally is different from the previous bull rallies as Bitcoin Google search is not as high as back in 2017. The movement is mainly because of Bakkt and institutional investors that are buying at OTC (Over the Counter) platforms. Peters further added:
“With the number of sell positions building in the market, it’s possible we could see a correction very soon. Even if that was the case though, bitcoin continues to remain on track to close out the first half of the year on a highly positive note. We could see bitcoin reaching $50,000 or even $100,000 this year.”
Bitcoin starts the bull run on 1 April and continue to rise from $4000 to $13,500. Maybe there is a small correction is coming but the buying pressure is very high.
Never Bet Against Bitcoin
