Why Bitcoin will not hit 20000 soon?

[susuberuang]

I think bitcoin prices are difficult to get to the $ 20k price because the price of this bitcoin can only be very expensive if there is a buyer and if there is a strong influence from the news or news on cryptocurrency that will make the price of bitcoin can be very expensive, if not already there bitcoin prices will be difficult to rise.

[wxa7115]

Bitcoin's growth began in early 2017 and then it touch 20000. Bitcoin's largest growth is due to the ability to trade with tether dollar. With this growth, a huge growth in ICOs appeared. Nowadays about 30 ICOs are added to the market. This huge volume of ICOs, has taken the power of bitcoin growth. Like weeds next to a tree. Bitcoin will not grow until ICOs exists.

It is true that a huge amount of coins is extracting money from the market cap of bitcoin, but that is not the real reason, this market is big enough that it can accommodate hundreds of coins, the real problem is the lack of demand, the demand for bitcoin was skyhigh in December 2017 and since then the demand has gone down dramatically, something that is completely understandable because a lot of people were only interested in investing in bitcoin when it was going up in value.

But even if I think that the reason that you are giving about why bitcoin is not going to go up in value so fast is wrong at the end you have the right conclusion, bitcoin is not going to touch the price of 20000 anytime soon and people need to accept that fact.

[DarkEagleMan]

it seems like no no, but more precisely the price of bitcoin cannot touch the price of $ 20,000 anymore because there is no good news that can trigger an increase in bitcoin prices, if there is anything that can trigger a bitcoin price increase as in the past year which has very high demand then it is definitely prices can be very expensive.

Are you sure? On the contrary, it could be said that the conditions surrounding bitcoin at this precise moment are much better than a year ago, when the high demand caused by the big speculative wave of 2017 led to highlighting the great shortcomings of bitcoin. It is enough to remember how expensive and slow the bitcoin transactions were during this period to realize that there were no sustainable bases for the price to skyrocket to those levels, so I think that a possible recovery in the price of bitcoin no longer depends both of "good news" but of the recovery of the confidence of potential investors, which I think will happen gradually in the coming months.

[Baronggot]

Bitcoin will not hit 20,000$ soon because none of us here also know that it will indeed hit 20,000$ again this year. Let us just wait what really this year brings for bitcoin and the rest of the cryptomarket.