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Bitcoin Price Might Hit 15K At the End Of 2020
The price of the Bitcoin was dropped below $4000 at the starting of march 2020.
It was all due to the lockdown declared by every nation all over the world.
With the widespread of the COVID 19 pandemic, every nation declared self-quarantine to stop the never-ending chain of the COVID 19.
This quarantine affected the trade market and the economy of the nations.
Today we are in June, and the price of the Bitcoin has completed a V shape recovery.
Many of the experienced traders believe that the rate of recovery was so accelerated that the price of the bitcoin might reach a $15000 mark at the end of 2020.
The price of the Bitcoin overcome the $10000 limit in the mid of May 2020.
As the countries were removing the lockdown from their nation, the Bitcoin made a $6000 recovering, leaving the traders dumbfounded.
With such a long jump, traders from all over the world believe that this is the beginning for the Bitcoin to attain its former glory back.
Some of the analysts have also predicted the month in which Bitcoin might reach to 15k mark.
During this quarantine period, people were able to grasp the understanding of the online platform and app customer support that helps the traders with the Cryptocurrency trade.
One of the platforms that have seized the opportunity to expand its user’s database is the CFDs trader.
Within the last few months, it has been one of the most used platforms that have attracted the greatest number of traders.
The reason is very simple: the Bitcoin code app is very simple to use and has all the necessary features that a trader needs to place their deals.
What are the Resistances that Bitcoin might face to reach 15k?
We all know that Bitcoin has already passed the $15000 price evaluation. It was in the year 2017. And the cycle to reach 15k was the same as it is now.
Whenever the value of the bitcoin has exceeded the $10.5K mark, it has touched the mark of $14K.
This is also one of the reasons why traders are predicting that Bitcoin might repeat the same this year.
Since then, the price of the Bitcoin has never crossed the mark of 15k.
2019 was also considered one of the golden years for the Bitcoin, but in that year, the highest price Bitcoin was able to reach was $14000.
Bitcoin has come close to the 14k mark many times after 2017. But it was never able to pass that mark.
So, $14000 has remained the key resisting factors for the Bitcoin to reach to the 15K mark.
Whenever the value of the Bitcoin reaches to 14000-mark, the Crypto trade market starts acting up.
Huge deals are made, stopping Bitcoin from surpassing $15000.
How has Bitcoin Halving affected the price of the Bitcoin?
Bitcoin halving is an event that occurs once every four years. In Bitcoin halving, the incentive of a Bitcoin block reward is halved.
Currently, the price of the reward is 12.5 Bitcoin for every block.
Bitcoin halving event has its own importance in the Cryptocurrency trade.
Historically, it has been seen that the price of the Bitcoin increases by 1000% to 6000% within a year of Bitcoin halving.
With two events occurring in favor of Bitcoin in the same month, traders are predicting that if everything goes right for the Bitcoin, then the price of the bitcoin might surpass its peak price evaluation.
With how the Cryptocurrency is growing in the market and the events that have occurred recently might help to take a huge leap in the price evaluation.
We can just wait and just how accurate the predictions are.