BTC is getting ready for 20k again

[kentrolla]

Impressive performance from the past couple of weeks is this the effect of American election?

BTC has pumped 9% in the past one week and has gained the momentum and inching towards 15k now after 2017 it has broked the 14 k barrier and setting up for new heights guys this performance from BTC was remarkable and a boost for many altcoins too. I guess it will break 20k barrier by the end of the year hopefully.

[Lucius]

I think that the previous ATH is actually just the beginning of where the real bull run starts, because it is not questionable whether it will happen (it is a matter of time), but how many times the next ATH will surpass the previous one. Unlike 2017, we now have big players involved in the whole story who are really investing big money, while on the other hand we have growing distrust in institutions and more and more speculation about the weakening of the US dollar, which encourages many to invest in Bitcoin.

However, caution should be exercised at this time, as the EU is hit hard by the pandemic and locking measures will have the same consequences as before - and it is difficult to expect that Bitcoin will not be hit if the stock and oil markets fall sharply again. I don’t think this price increase is directly caused by the US presidential election, but that we are feeling the first effects of halving and the basic law of supply and demand due to the increased institutional interest in investing in Bitcoin.

[ultrloa]

Impressive performance from the past couple of weeks is this the effect of American election?

BTC has pumped 9% in the past one week and has gained the momentum and inching towards 15k now after 2017 it has broked the 14 k barrier and setting up for new heights guys this performance from BTC was remarkable and a boost for many altcoins too. I guess it will break 20k barrier by the end of the year hopefully.

The market gives us a hint on what will be the outcome of bitcoins in next following months but it's good not to rely on the beliefs that we will go to the past ATH since there are so many things to consider and might we might not see it and come to the closest figure so better expect less and prepare to sell so that whenever the market go backwards we will earn and can buy again for possible another big gains from the volatility.

[STT]

20k by year end is a bit ambitious possibly, there is one theory to justify that which is an air gap or basically a lack of volume in this area.   Though we have had 20k ATH previous it was a very shaky abstract price not really confirmed or involved with properly but that also leads into the idea we've never put down alot of volume in this area and so resistance could be low.   Another chart I saw pointed out the present price in 2020 matches the closing price from the ATH area though we are far off, it could be this point is the resistance and the rise after is not as difficult.
   In 2019 I guessed we'd have the proper rise in 2021 and 2020 would be a time for consolidation and revision of prices, I do still think that though we have been more positive overall.   Just recently we've just been rising on most of the tests to weekly average, it marks us with very positive momentum.

[teosanru]

Impressive performance from the past couple of weeks is this the effect of American election?

BTC has pumped 9% in the past one week and has gained the momentum and inching towards 15k now after 2017 it has broked the 14 k barrier and setting up for new heights guys this performance from BTC was remarkable and a boost for many altcoins too. I guess it will break 20k barrier by the end of the year hopefully.

I think people won't be satisfied this time with $20k for sure. I have heard many people talking about BTC to reach $100K. Until now I don't really think BTC has shown any signs of something like 2017 which actually is better because the quicker you go to that mark upward the less stable that mark would be. So I think it's better that the curve this time is much less steeper. Earlier people were thinking that PayPal was one of the reasons of that bull run starting but I think it's purely market dynamics. Price hardly move on too good moves but sometimes make significant movements on even smallest of rumour.

[carter34]

Impressive performance from the past couple of weeks is this the effect of American election?

BTC has pumped 9% in the past one week and has gained the momentum and inching towards 15k now after 2017 it has broked the 14 k barrier and setting up for new heights guys this performance from BTC was remarkable and a boost for many altcoins too. I guess it will break 20k barrier by the end of the year hopefully.

Bitcoin has moved from last 1-2 months ago after making it to reach above $13,000 or $14,000 last month and has continued this first week of November showing more bull but for altcoins it has not had same good increase. Example etheruem is suppose to reach $500 but now at $405, tether around $1, $0.24 for ripple etc. I expect better bull for altcoins in the days coming.

[Mahdirakib]

In 2017 we have seen sudden pump of bitcoin price within a day or short time. And it also got sudden dump on some days. But in this year bitcoin price showing strong movement. The price increasing regularly and not showing large dump. Price change percentage of weekly and monthly remaining positive most of the time. If everything flows like this then bitcoin will definitely cross 20k within this year.

[jseverson]

Prices have been climbing steadily even before the election hype. I imagine it has much more to do with increased and sustained institutional interest. The Paypal move in particular is huge, considering how it opens up the market to a lot more new people.

I'm not sure if we'll actually get 20k back this year, but if we do, I expect it will be more slow and sustainable as opposed to explosive and volatile like before. We're really seeing the groundwork this time around.

[Poker Player]

Impressive performance from the past couple of weeks is this the effect of American election?

I'm not sure if the US elections have anything to do with it. It would be strange, because the result is uncertain but the S&P 500 is going up as well.

In any case, I'm sure that the massive printing of money that the Fed is doing has a lot to do with it:

Almost a fifth of ALL US dollars were created this year.

[Fortify]

With the recent Paypal announcement, I think many investment managers now feel like it has bridged the gap between a gamble that is extremely risky to a slightly less risky investable asset. Bitcoin has now been around over 10 years, which you would think has given it enough time to find any possible weaknesses in the technology and although the transaction fees aren't always desirable - it is extremely liquid which can be very helpful for cross border trading (that is sometimes subject to all sorts of unfair governmental restrictions and "tweaking")

[thecodebear]

No way it hits $20k this year. I think this move still has room left to run, I could see it perhaps hitting $16k. But we should get a correction before going anywhere near $20k. The last correction went just under $10k, I don't think we're gonna have a 50% run before getting a serious correction.

I'd say $16k this month, correct back to $11k/$12k in Dec/Jan, then build back up for a possible shot at the next local peak around $20k in the Spring.

Things are starting to heat up though for sure, but we all know Bitcoin gets plenty of deep corrections even during growth times. Grayscale investments are going bonkers, Paypal is saying they are getting huge interest and will be opening up to everyone this month - things are looking good. But I do think regular profit-taking will happen on the exchanges so its not just gonna be a straight shot up to ATH. ATH within 6 months is totally doable though.

~6 more months buildup to $20k, ~6 months solidifying around $20k as the launchpad, and a year to boom to $100k and I'll be plenty happy! Of course if the boom to $100k happens in 2021 I'll be even more happy, but trying not to assume things are gonna get crazy super fast.

[boltz]

Some already are buying in FOMO so personally I don't know what to think anymore because the flags are a bull run sign but the major rising in a couple of hours made me think again if this is the start of the new bull run. I guess the coming days/weeks will tells us if this rally will go on or we gonna settle around 15k$ for the next year.

[lifeOK]

You're right. Likely great opportunity to purchase Bitcoin only if you can afford at this price and other cryptocurrencies too. I believe it's very good time to purchase because BTC is preparing to hit 20k soon according to many reports. I'd purchase modest quantity right now as I've restricted balance, will buy again once price dips.

[posi]

Impressive performance from the past couple of weeks is this the effect of American election?

Bitcoin should have make an impressive pump in price after the halving was executed but the pandemic and the economy status hinder it from happening, everything changed after private companies sees Bitcoin has the better reserve asset and Paypal integration of Bitcoin, US election have nothing to do with it. Despite all the trend currently posed by the market it doesn't mean investors shouldnt be prepared for an shortcomings that may occur through market manipulation.


 

[OgNasty]

20K is when the fun STARTS.

[thecodebear]

20K is when the fun STARTS.

exactly. the path back to $20k is just the buildup phase. Once the price starts moving significantly above $20k that's when the big bull run starts. To compare to last market cycle, right now we're like in mid-2016.

[deisik]

20K is when the fun STARTS

Are you going to sell out?

Personally, I expect a hell of resistance once we get there (note, I don't doubt that we will get there pretty soon). Big guns such as Square, MicroStrategy, Grayscale Investments and their likes will probably start selling portions of their huge stashes on the way to the top as it makes no particular sense to hold longer when you can book 100% profits within just a few short months. It feels too good not to cash out

[STT]

Speculative positions will always pull back, the measure of strength is in that pull back and to me the lows mark progress more then the highest prices.   So yea those funds are keen to produce performance and charge fees based off the gains in some cases and the other factor I just remembered is a quite common sell into the year end to realise gains for tax purposes.    Iam not fully familiar how the dynamic might take place as this year is not a normal year but markets often switch gears as we transition between quarters.    That said, BTC is globally traded without any break or forced centre so its not exactly bound like any other asset.

the fun STARTS.

Its likely theres a feedback effect like in previous years gains, where greater interest causes more development and wider involvement.

[yohananaomi]

You're right. Likely great opportunity to purchase Bitcoin only if you can afford at this price and other cryptocurrencies too. I believe it's very good time to purchase because BTC is preparing to hit 20k soon according to many reports. I'd purchase modest quantity right now as I've restricted balance, will buy again once price dips.

a wise way of course to buy when it goes down and sell it when it goes up, but I agree that buying bitcoin requires a large amount of funds and you have to buy it in installments little by little so you can collect it later and enjoy the increase of bitcoin. which is beyond my expectations that it has penetrated $ 15K which I predict will happen at the end of the year.

Also note that bitcoin will reach more than when there was an increase in 2017, it will happen but it will happen next year. it looks like the price that will happen could be bigger and several times from 2017, we are waiting and hoping it will happen

[ololajulo]

Some already are buying in FOMO so personally I don't know what to think anymore because the flags are a bull run sign but the major rising in a couple of hours made me think again if this is the start of the new bull run. I guess the coming days/weeks will tells us if this rally will go on or we gonna settle around 15k$ for the next year.

Eth 2.0 news from CZ binance set the ball rolling and the sight of 15k (+5000) bitcoin in less than 4 weeks has been impressive. I think it is still following the script if the pandemic doesnt cause any more offset with new lockdown. Waiting for the baby bull run for ethereum and other altcoins when bitcoin stabilizes by the end of the year.