Less than two months ago, I published several articles on the Publish0x platform, one of which I expected the price of Bitcoin to reach $ 20,000... The expectations of all analysts at the time spoke of a maximum of $ 16,000 that the price of that locomotive currency could reach...
My expectations for Ethereum are met and Bitcoin close to my expectations
In three other articles, I published at different times ... I expected Ethereum to break the $ 500 barrier and exceed this number as well!
* Bitcoin has surpassed the $ 19,000 and is moving steadily and aggressively towards the $ 20,000 that I had expected.
* Ethereum broke the $ 500 barrier as I expected as well .. Ethereum did not stop there - as I also expected - but it continued to rise until it broke the $ 600 barrier as well...
3 Articles on Ethereum and Article on Bitcoin
Certainly, I will not republish the articles... But if you want - dear reader - to read them, you just have to click on the title or picture of each article to read the entire article...
I will talk about the articles according to the publishing date of each.
The first article was published on 2 September 2020 and was entitled:
Will Ethereum break the $ 500 barrier? This is my expectation! (Updated)
The second article was published on September 4, 2020, and was entitled:
Has Ethereum's downturn started? Is the continuous rising wave over?! That is a difficult question!
The third article was published on September 10, 2020, and was entitled:
Ethereum still holds many surprises
As you can see, the three articles talk about Ethereum... I was more interested in Ethereum than Bitcoin, opposite to the prevailing trend.. because I see that Ethereum is a worthy currency because it still carries many surprises, especially after it freed from Bitcoin's dependency and became on its way. Like a locomotive, just like Bitcoin.
But because Bitcoin is a currency whose attractiveness cannot be ignored, at least as it is the mother locomotive for all cryptocurrencies and the starting word for this exciting world called the cryptocurrency market... I wrote an article about it that I published on September 21, 2020, and its title was:
And as I mentioned before, when I wrote this, almost all experts and analysts were talking about $ 16,000 as a potential point for Bitcoin to reach it while I was talking about $ 20,000.
You were the only one to talk about Bitcoin reaching $ 20,000
Another important note .. when I wrote this article, the price of Bitcoin ranged between $ 10600 and $ 12000, as the highest price reached by Bitcoin ... before the price fell again to above $ 10,000 .. and the price of Bitcoin at the time of publishing the article was $ 11949 .. Therefore All the nominations were talking about the price of Bitcoin reaching 1200 as a point of resistance. If the currency was able to break it, it could reach a maximum of 16,000 dollars... I think I was the only one who spoke at this time about the price of Bitcoin reaching $ 20,000.
When will Bitcoin break the $ 20,000 barrier?
The question now: When will the price of Bitcoin reach $ 20,000 after the price of Ethereum broke the $ 500 and surpassed the $ 600 after that?
The answer is, as I always say, no one can determine this precisely.
But my personal expectation is that this will happen within a maximum of a week, even if the price suddenly falls - as it happened before and it always happens - for a day or several days!
The most important question: What next?!
The most important question: What next? Will Bitcoin and Ethereum continue to rise, or will they bounce back in a new wave of price declines after hitting the top?
This question is also difficult ... but by reading the past and taking current developments into account, a possible answer can be reached.
Will Bitcoin keep its record high ?!
I said in my article in which I expected the price of Bitcoin to reach $ 20,000 that this happened for the first and last time at the end of 2017, and I expected the matter to repeat ... But will Bitcoin keep this record high or will the price decline continuously? As it happened in 2017?
Most of the guesswork is that the price of Bitcoin will break the 20,000 barrier and then decline due to the desire to reap profits for fear of retreat!
A slight decline for a short time
Bitcoin's price will decline this time as well, but the decline will not be the same as it happened in 2017 when it was a sharp, large, and long-lasting decline.
This time - as I expect - the decline will be minor and will not last for long.
Meaning that the decline may stop at $ 12,000 and then start a new round of volatility, up and down, so that the price moves between 12,000 and 16,000 dollars ... before the big jump that will carry Bitcoin to settle at 19,000 or 20,000 dollars for a long time, waiting for a new rise.
New developments push Bitcoin to hold
Why am I expecting this?
Because there are developments this time pushing Bitcoin to hold together .. including the entry of big names - such as Paypal and others - to support Bitcoin and the direction of some international companies and banks as well to support the magic currency Bitcoin...
Also, many financially heavy groups - investors and speculators - turned to Bitcoin as an investment area and their desire to buy Bitcoin as a profitable and safe investment... In addition to the entry of Bitcoin in what could be called the countdown to the completion of the total number of its mining (21,000,000 Bitcoin), which is what Makes it more like a valuable rare gem!
=======
Image Sources: pixabay
Many analysts were expecting the price of Bitcoin to rise and reach $ 20,000 again, especially after the use of cryptocurrencies in PayPal was accepted.