BTC is getting ready for 20k again

[Saisher]

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 pump happens after Biden showing that he is winning, is there a relationship to the US election that we are having a big pump, it's been quite some time that we have something like this, if this is the start of the bull run then I don't see it going down again before the year ends and it may end up in $18 k.

[milewilda]

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.

Im not that too confident for us to reach that price in the end of this year.We are only have just 2 months before on reaching that but basing of with the current movement
then we might see those numbers again which would really be the greatest time out of those couple of years that we had experienced.I havent thought that we would able to
touch 15k again on this fast and now as of this writing the price is 15.5k which we might see another milestone on hitting up 16k price and might even continue even more.
For those people who do love to active trade then its a bit risky on making out some position as of this moment which i do have a hard time to look for the best spot but
price rally is unstoppable.

[Apes]

The pump happens after Biden showing that he is winning, is there a relationship to the US election that we are having a big pump, it's been quite some time that we have something like this, if this is the start of the bull run then I don't see it going down again before the year ends and it may end up in $18 k.

I also think the same, there is no connection between the US election and the bitcoin price continuing soaring.
I think that the cryptocurrencies price will have a massive price correction occurs every the year will end.
so don't be surprised if there a significant price correction at the end of the year.

[LogitechMouse]

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.

At the time I'm posting this, the price of Bitcoin is at around $15,600 already.
Am I happy?? Hmmm a little bit but I'm just curious on what could be the main reason behind this.

Possible that the election and the new President is the catalyst of this. Aside from that, I don't know any reason behind this pump. We are at the $13,000 territory on the 3rd of November but 2 days after it went up to $15,800.

I will just wait for the price of Bitcoin to reach the previous ATH of $20,000 again. My year end price for Bitcoin has been reached (between $15,000-$16,000) and I'm quite surprises TBH that it reached that price in a short span of time. Short term I will wait for a correction towards the $15,000 possibly.

[harizen]

It's not that BTC is being ready but reaching $20,000 is realistic even before despite of 2018 bear market, lots of negative news, FUD, etc. It's just that it needs time and patience for it to breached that level again.

The "new ATH thing" is the most usual speculation when the price is hitting such crazy price levels.

It's good if it will happen but don't expect it right away to avoid disappointment. For now, enjoy what you are seeing and plan the best thing to do.

[adaseb]

Its rumored that the latest run-up was due to a MM which sold way too many call options dated for end of Jan 2021. Look at,

https://www.deribit.com/main#/options?tab=BTC-29JAN21

Look at the $32000 and $36000 calls, look at the open interest. Basically a few days back someone bought 20K worth of these calls basically giving the right to buy 20000 BTC before 29 Jan 2021 at $32K,$36K prices.

Most likely the market maker is buying these BTC to hedge in case BTC does go higher than the underlying in January 2021.

[Mpamaegbu]

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

There is a possibility to this if we look at it from the angle that there is uncertainty around the US dollar occasioned by the elections. The dollar has been spiking and nose diving almost at the same time. So, Bitcoin is now used as a hedge for the dollar. Demand is increasing more for Bitcoin and value spiralling upward. However, I think the major thing driving price upward is the Bitcoin halving that took place a few months ago. I expect more demand for Bitcoin next year as has always been the case in the recent past of each post-halving year. More interesting for me is the expectation of credible alts with utility getting noticed and following suit in this bull run.

[michellee]

It still needs more time for bitcoin to reach $20k because bitcoin now seems to make a correction for a little down. But the opportunity for bitcoin to reach $20k still wide open, and it could touch that price in this month if bitcoin has more power to increase. Maybe the price can break $20k at the end of this year or it still happens in the next year.

We don't know if the election cause bitcoin price rise higher in just one or two days, but even if that is because of that, we are happy to see the price rise higher. The price now is at $15,600 level and is still trying to increase slowly, and I hope that we will see $16k in this week.

[bitzizzix]

It still needs more time for bitcoin to reach $20k because bitcoin now seems to make a correction for a little down. But the opportunity for bitcoin to reach $20k still wide open, and it could touch that price in this month if bitcoin has more power to increase. Maybe the price can break $20k at the end of this year or it still happens in the next year.

We don't know if the election cause bitcoin price rise higher in just one or two days, but even if that is because of that, we are happy to see the price rise higher. The price now is at $15,600 level and is still trying to increase slowly, and I hope that we will see $16k in this week.

of course the increase in bitcoin is beyond the original prediction because it is estimated that the increase will only occur at the end of the year at a price of $ 15K and will continue until next year which is expected to reach its peak and exceed 2017.

but currently bitcoin continues to increase and surprisingly it is also not accompanied by altcoins that usually follow the rise of bitcoin. seems like it's a bit late for the altcoins to make the move.

Towards the end of the year there are still less than two months left, and in this one month the increase in bitcoin has been very drastic and continues to increase to reach more than $ 15,000.
So I think there is a possibility or chance that bitcoin will hit $ 20,000 at the end or early next year, and this is just a prediction that is not necessarily correct and I am optimistic that bitcoin price will continue to increase gradually.
and the movement of bitcoin does not increase the altcoin price to the maximum, and it may take time to increase the altcoin and it will happen and be patient.

[davinchi]

We will hit that $20k, I knew that we would hit that $20k one day but I didn't know when it would happen, it looks like it is going to happen very soon as well if things keep going like this. That tells us one thing about the current situation, people do not really trust fiat currencies no matter how strong they look. Dollar doesn't look to be defeated, there was so much dollar printing done and even with all that printing they claim that inflation is not that high and dollar is still strongest currency in the world used to calculate prices of many things.

Even with all that powerful dollar, people saw the printing and they are moving towards bitcoin, they trust bitcoin and they know that if they keep their money in bitcoin they could keep their wealth and purchasing power.

[Fardinaljoe]

Bitcoin has passed the price of 15k and continues to increase, it is likely that in 2020 it could reach 20k.

[gabbie2010]

It still needs more time for bitcoin to reach $20k because bitcoin now seems to make a correction for a little down. But the opportunity for bitcoin to reach $20k still wide open, and it could touch that price in this month if bitcoin has more power to increase. Maybe the price can break $20k at the end of this year or it still happens in the next year.

We don't know if the election cause bitcoin price rise higher in just one or two days, but even if that is because of that, we are happy to see the price rise higher. The price now is at $15,600 level and is still trying to increase slowly, and I hope that we will see $16k in this week.

of course the increase in bitcoin is beyond the original prediction because it is estimated that the increase will only occur at the end of the year at a price of $ 15K and will continue until next year which is expected to reach its peak and exceed 2017.

but currently bitcoin continues to increase and surprisingly it is also not accompanied by altcoins that usually follow the rise of bitcoin. seems like it's a bit late for the altcoins to make the move.

We shouldn't be carried away with the sudden upward surge in the price of Bitcoin I remembered vividly the events in 2017 when the price reached the ATM at $20K thereafter there were lot of speculations i.e FOMO that the price will touch $50K then, a lot of newbies and new investors did invested massively unfortunately the price plummeted and dumped massively invariably massive losses of portfolios and investment.
I am not a prophet of doom that is against the upsurge in the price of bitcoin but we should also be mindful of its price action probably after the  final result of the US election is announced we should be expecting a stability of the price if truly the recent pump is attributed to this election.

[wxa7115]

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 doubt this is the result of the US elections because if that was the case I would have expected to see the markets react negatively to the fact that almost three days have passed since the election and we still have no winner and there is going to take a lot of time for this to happen as Trump is likely to contest the legitimacy of the election itself.

I think what we are seeing is a combination of factors, a delayed effect of the halving, institutional money coming to the market, a natural increase in the price of bitcoin as it is adopted by more people and an increase on its price caused by all the money governments have printed because of the pandemic.

[deisik]

I doubt this is the result of the US elections because if that was the case I would have expected to see the markets react negatively to the fact that almost three days have passed since the election and we still have no winner and there is going to take a lot of time for this to happen as Trump is likely to contest the legitimacy of the election itself

It is possible to look at it from different angles

For example, as it becomes increasingly clear that Trump is not going to make it, people feel more confident even if he is to litigate till the end of times. And to the best of my knowledge, Biden also promised some fiscal stimulus, and that may have contributed to future growth. Anyway, let's see when Biden is officially declared the president-elect and how the markets will react to this news. That moment should tell us a lot

[Wysi]

It is very much possible now after the recent developments and let's not forget the driving forces like US election and PayPal's announced which gave a breakthrough for bitcoin's price to surge and now since it has already crossed $15k and approaching $16k we can expect the value to.break the barrier of $20k within the end of December, even before December if this trend continues for over two week.

Just consider the driving factors and act accordingly within rushing for investments into Bitcoin at this point of time.

[Fredomago]

It is very much possible now after the recent developments and let's not forget the driving forces like US election and PayPal's announced which gave a breakthrough for bitcoin's price to surge and now since it has already crossed $15k and approaching $16k we can expect the value to break the barrier of $20k within the end of December, even before December if this trend continues for over two week.

Just consider the driving factors and act accordingly within rushing for investments into Bitcoin at this point of time.

Same from how I see this, with PayPal and those other known businesses the spark for reaching that level are already shinning,
it's just a matter of time on when we will see that value again.

Good to see that when it's moving forwardly even it's step down for  a while it's not that much giving good time and space
for investors to buy in and start holding.

We will surely see more to come and reaching new ATH is getting near, if not this year it can possibly
be done in the year to follow.

[RealMalatesta]

Yes, I think bitcoin will reach to a new all time high, a lot of us are hyped about the price right now and if you ask anyone who has watched bitcoin move from $10k to $15k in just few months they will all say that bitcoin will go up a lot.

Secondly I think the price will reach to $25k-$30k levels, those are legit understandable and realistic goals for us to reach that shouldn't really be that difficult, doing a 2x is not really unheard of in bitcoin world, but I think it will take about a year or at least until summer for that to happen and not in next month or two.

$50k is a lot, I can't say that it won't happen because it could totally happen but I can say that it is not going to be easy and quick, if it ever reaches $50k (which in the end it will one day) it probably will take few years for that to happen, but I can't guarantee that, maybe tomorrow we will be $50k, maybe not until 2030, I can't say.

[slapper]

The election only has a slight impact on the price of bitcoin. People are waiting for the final results which probably change the whole country and the world situation in the next 4 years. And I believe the results will affect bitcoin strongly. Actually, I deeply believe that politics only cause a few impacts on bitcoin. It does not raise people awareness of this asset

My personal thought is: Bitcoin has spent so much time below $10000, even in this year, we saw bitcoin was below $4000 during a hard time of the pandemic. People must have amassed enough bitcoin for their own purposes and right now, when the demand is lower than the supply, the price simply goes up. It is a ripe time for bitcoin to surpass its own all-time high.

I still doubt that bitcoin can pass $20000 although I always believe in this precious digital gold. But lets just wait and see

[Distinctin]

The people are pretty excited to see it but can't see that the market is ready for this. It could be possible as we have it before but the question is how the people willing to hold their Bitcoin until that moment? because we can't sure that everyone will never sell their Bitcoin at this time and worried if someone will create FUDs pushing them to sell and dump. Ain't guarantee that we are able to reach that price since we have this volatility feature.

However, we can't lose our positivity towards the market, it ain't gives me disappointment if ever we don't reach $20k again because the most important is we are seeing a sustainable market.

[jubalix]

If we get to above 20, then onto 100k~200k crash back to 40~ 60 K, then I think we will have the notice of a lot of people.

For the vast majority of people think btc crashed since 20K, and that was it, its dead. It's like Lol BTC didn't that crash.

When it "crashes" back to 40~60K, then the Normies have to re-evaluate what crash means in an exponential rise.

So far crashes have been 3x + ish of prior highs.

Most people have not understood that bitcoin can not simply "disappear" or "cease to exist" like shares, fiat, companies, etc even if it does crash.

I also like the absence of the "tulip" ers. Who have finally shut up.