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Bitcoin (BTC) Price Could Jump to $200,000 within Two Years

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Sat, 02/22/2020 - 10:03
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  • Bitcoin price has been trading in the $9,600 area for a couple of days now, however, a trader explains how BTC could reach $200,000 within two years

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Contents

Bitcoin has been in a slight pullback for the past few days, having descended from above the psychological $10,000 level.

As of the time of writing this article, the flagship currency is trading at $9,627.

A crypto trader talks about Bitcoin inflation comparing it to the inflation target set by most central banks and makes a bullish long-term prediction on BTC.

'BTC could easily jump to $200,000 within 2 years!'

On his Twitter page, trader @TheMoonCarl has shared data that after the approaching halving of the major cryptocurrency, the Bitcoin inflation is going to reduce from the current 3.6 percent to 1.8 percent.

As per him, the majority of central banks have set themselves a target to keep inflation at 2 percent, so the BTC inflation is going to be lower.

The trader also states that within two years, the price of Bitcoin could easily hit $200,000.

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‘Nothing ultra-bearish on charts at the moment’

Crypto analyst Michael van de Poppe says that he does not observe any particular bearish signs on weekly BTC charts at the moment.

What is happening to the BTC price now he believes to be merely ‘a corrective move in an up-trending market’.

BTC Michael van de Poppe
Image via Twitter

Prominent crypto trader Jacob Confield assumes that now the Bitcoin price is going to either skyrocket or plummet deeper.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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COVID-19 Crisis Ruins Bitcoin's Q1, but Bulls Could Soon Have Massive Comeback

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Tue, 03/31/2020 - 19:25
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  • Bitcoin (BTC) bulls have high hopes for Q2 after the coronavirus-induced crisis tanked the price of the leading cryptocurrency

Cover image via stock.adobe.com
Contents

Bitcoin, the number one cryptocurrency by market capitalization, is set to finish its tumultuous first quarter of 2020 in the red with a 10.65 percent drop, according to crypto data provided by Skew.    

As reported by U.Today, it suffered a price crash of enormous magnitude due to the coronavirus pandemic that resulted in the global economic shock. 

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The stellar quarter that wasn't 

In early 2020, Bitcoin was on track to have its best Q1 since 2013. In fact, it gained more than 50 percent after reaching its current yearly high of $10,508 on Feb. 13. However, this rally hit a snag and BTC printed its first negative February close in six years

All bull dreams have been brutally shattered after the 'Black Thursday' of May 12. On top of halving its price in less than one day, BTC was actually in great danger of hitting zero because of a string of liquidations on BitMEX. 

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The odds are in the bulls' favor  

That said, there is still a good chance that the bulls can stage an impressive comeback in Q2, which is historically the most successful quarter for the leading cryptocurrency.

Last year, BTC kicked off its impressive rally on Apr. 2 with a sudden 20 percent price pump.   

At press time, BTC is sitting at $6,480, continuing its streak of range-bound price action.  

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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