Next Crypto Market Bull Run Will Blaze Past $20,000 BTC/USD Highs During 2017, Researcher Says
Tom Shaughnessy, the founder of Delphi Digital and important analyst in the market, has recently affirmed that the next Bitcoin bull run will be bigger than any of the previous ones.
According to him, the last one was driven by hype. People believed in a “magical internet money” concept and they bought the concept without knowing the technology, what actually drove Bitcoin down after the bubble burst. Because of this, he is certain that the next bull run will be bigger.
Many others agree with him. There are several aspects of today’s markets that show how prices can increase in the future. This will ultimately lead Bitcoin into having a much higher price in the future if the predictions are correct.
The price of Bitcoin has risen 33% in the last month. Such an abrupt surge has helped Bitcoin to raise its price a lot and to break out of some of the resistance levels that were diminishing its growth.
Now, the prices are stable at around $5,200 USD, which can make the token stronger. The longer the tokens stay in this average, the more they will get stronger, especially if they are able to break the $5,200 USD resistance level.
The $20,000 BTC/USD Market Can Be Overcome
Bitcoin and the whole crypto industry have made several upgrades in its security, compliance and transparency recently, which have turned the industry into a very interesting investment, especially for institutional investors.
Hash rate and transaction volumes are also on the rise this year and miners are as committed as always, so all the reasons for the prices to go up are here. The whole infrastructure has been improved a lot, so the road to over $20,000 USD is seen as certain by many in the industry.
Some say that the bottom was reached and that the market will never go under $3,000 USD again. If the worst was actually passed in the first quarter of the year, there is plenty of space for growth now and the market sentiment is positive.
As soon as the market agrees that the $3,122 USD value of March 2019 was the bottom and there is a consensus that Bitcoin will rise, it will happen. Some people are expecting prices to reach over $20,000 USD not this year but in 2020 or 2021. If the analyst of Delphi Digital is right, we are on the brink of seeing Bitcoin grow again.
Live Bitcoin (BTC) Price:
1 BTC/USD =$26,565.2141 change ~ 0.35%