Bitcoin’s continued strength could provide further gains until the end of the year, but a sharp downturn is also conceivable.
Bitcoin is currently jumping from record high to record high, which leads some experts to wild speculation as to what the market-leading cryptocurrency can possibly achieve by the end of 2020. At the current walking pace, the next four days could still have one or two surprises in store.
Although a price jump of 8 – 9% measured against the historical volatility of Bitcoin does not seem exceptional, in 2019 there was even a jump of 42% , crypto market researcher Ryan Selkis points out that yesterday’s price jump from 2,300 US dollars Dollar is only the second time that Bitcoin has gained so much in just one day.
Carried by this euphoria, some crypto traders are already wondering when Bitcoin will be able to jump a day of 10,000 US dollars for the first time.
Hope for $ 30,000
There are now the best conditions for such a novelty, because the hashtag “#Bitcoin” trended yesterday with almost 164,000 tweets on Twitter. The second most popular hashtag in this period was clearly left behind.
As Cointelegraph has reported, the market-leading cryptocurrency is meanwhile again above the calculated average value of the Stock-To-Flow (S2F) forecast model, which outputs a price target of 100,000 US dollars. A sustained soaring is all the more likely.
At the same time, the search queries on Google are significantly lower than during the record run in 2017. According to Google Analytics, the popularity of the search term “Bitcoin” is currently less than a fifth of the previous record. The interest of the general public and private investors can currently still be expanded, which gives the price room for improvement.