Bitcoin Price at $20,000 Before Halving Is Realistic as BTC Gets Above Crucial Indicators: Crypto Trader

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Sat, 10/26/2019 - 10:05
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    After the Bitcoin price surged by over 30 percent overnight, a crypto trader says BTC has got above crucial TA levels

Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The Bitcoin price has gone against all recent bearish predictions by surging over 30 percent overnight and skyrocketing by around $2,000. The Crypto Twitter is heatedly discussing this event.

A crypto analyst from Amsterdam has tweeted that this is good news indeed - now, as per him, Bitcoin charts show that BTC is  above all vital indicators and that the recovery of the 2017 all-time-high is realistic before the halving occurs next year.

$17,000 - $20,000 per BTC is ‘realistic’ before May 2020

The crypto analyst and trader @CryptoMichNL has tweeted that currently Bitcoin price pattern is similar to that of early 2016. He assumes that BTC is now above all the important indicators and so achieving the levels of $17,000-$20,000 before the halving in May 2020 is realistic.

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The BitMEX CEO celebrates the BTC surge

Arthur Hayes, the head of BitMEX, has tweeted that he is going to celebrate the recent Bitcoin price rise.

The TechCrunch founder, Michael Arrington, also commented on the price increase.

Some in the community believe the Bitcoin rate increase is down to yesterday’s statement of China’s President Xi Jinping about China officially embracing blockchain in the near future.

 

What are your thoughts on the further Bitcoin price movement? Feel free to share them in the comments section below!

 

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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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