Bitcoin (BTC) broke record after record last year but in recent months has been undergoing a correction phase plus that it has been affected, along with the others cryptocurrencies by the bad news and threats from governmental officials. However, this was the case until the beginning of this week, when the Bitcoin (BTC) started to grow again, slightly. So, could Bitcoin (BTC) reach $91,000 by 2020?
In any case, in the medium-term, some investors have a categorical view on Bitcoin (BTC) and are clearly stating that a bullish sentiment is felt.
The 2017 year was the year of Bitcoin (BTC), when it comes to the cryptocurrencies market – From $950 to $20,000
An increase by more than $19,000 is the performance that Bitcoin (BTC) cryptocurrency has achieved in 2017.
Its price has gone from a value of about $950 at the beginning of the year to more than $20,000 in mid-December. In other words, the value of 1 Bitcoin (BTC) has multiplied by more than 20 times in less than a year.
View the graph of Bitcoin in real time and the historical data on Bitcoin (BTC), here.
Could Bitcoin (BTC) reach $ 91,000 by 2020?
Since its record trading value of above $20,000, Bitcoin (BTC) has corrected to pass significantly below the $10,000 mark but professional investors are very optimistic about the rise of this crypto coin in the upcoming months and even years.
For example, a hedge fund manager bets that Bitcoin (BTC) will be trading at $40,000 by the end 2018 and, more recently, the trader Tom Lee, the CEO of Fundstrat Global Advisors, published his forecasts where he notes that 1 Bitcoin (BTC) will be trading at $91,000 by March 2020.
See the complete Tom Lee’s graphical analysis on Bitcoin (BTC), below:Currently, Bitcoin (BTC) hovers a little below $9,000, which means that according to these analysts Bitcoin (BTC) is expected to score a 10 times increase in value against the USD, which is quite feasible for Bitcoin (BTC), as we’ve witnessed its value increasing by 20 times in 2017. Thus, according to the crypto trader Tom Lee and other experts, Bitcoin (BTC) could reach $91,000 by 2020.