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what was the average price of bitcoin in 2020

From a fundamental perspective, Bitcoin is performing fairly well in Features like transaction batching and SegWit have made the asset more competitive lately, putting its speeds closer to other currencies like Bitcoin Cash. Other notable achievements include Bitcoin reaching an all time high hash rate of ,, trillions of hashes per second on September 18 Additionally, the Bakkt Bitcoin Futures were launched on September 23, more than one year after the initial announcement.

However, a sharp decrease in the price followed the next day. But, its likelihood of sticking around for the long-term is higher this year than it ever has been.

In light of these development, we are going to make an attempt to predict the Bitcoin price in the end of September, on December 31, , and Additionally, it looks to be on the final wave of its correction since reaching its aforementioned high. Furthermore, the RSI has created some bullish divergence. There are three interesting upward sloping trend-lines visible when looking at the price of BTC since We have used different colours to identify them and will refer to them as the red, blue and green trend-lines.

However, due to its extremely steep slope, it is not likely to be touched in the near future. Additionally, it represents the upper limit of possible price increases for the future. The blue and green trend-lines are currently acting as resistance and support respectively. Therefore, future movement is likely to be contained within the confines of these two trend-lines, at least for the near future. The price is likely to continue decreasing and reach the support line by the end of the year.

However, for the year , the prediction is significantly less accurate. In order to amend this, we have outlined curved trend-lines that follow every single low and high. This however, is still a very inaccurate prediction that allows for significant movement between these two areas. Next, while keeping these values in mind, we will try to find similarities between this move and previous ones, in order to make a more accurate assumption about future prices.

Besides the fact that both of these highs occurred at the resistance line, the amount of time it took for the price to reach a low and the magnitude of decrease from high to low were very similar. This low occurred after days. While this is still a very big range, such is necessary when doing a prediction five years from now. The January 13, and December 15, lows are the only dates in which the weekly RSI fell below Additionally, this is the longest period in which the MACD was in negative territory.

However, the price movement following the December low has not been identical to that after the January low. After December 15, the price reached a high after days, on June 26, More specifically, it was 2. This does not fit into our projections. Therefore, the possibility that the price movement after Dec 15, is the same as that after Jan 14, but occurs at a faster rate is invalidated.

However, besides the time period, there are still similarities between the high on June 18, and June 26, During both movement, the price spend a long period of time trading below its day moving average MA. After the breakdown, the price spend a very short period of time below the day MA, before immediately moving above it. Looking at the duration of the triangle and its height, we can see that the movement in was 1. Using these ratios, finding the price in the previous move that corresponds with the price in the beginning of is straightforward.

Since the price broke down from the triangle, it has not retraced at all. Since it is currently inside a support area, we are expecting some retracement. Both predictions are in agreement for the price on December 31, The price should decrease slightly in the beginning of , before beginning an upward move during the latter half of the year.

We have a large range for this prediction, due to the fact that it is a long period of time in the future. While the actual price movement is just a rough outline, it is likely that several market cycles will be completed until then.

Do y ou think our predictions are accurate? What are your thoughts on the methods used to reach our conclusions? Let us know in the comments below. Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile. BeInCrypto provides an inside perspective on the latest trends in an emerging market while keeping our audience abreast of the hottest news, as it breaks.

Our only goal is to provide you — the reader — with important information, and we would never insult your intelligence by publishing unlabeled promotional material. Hong Kong. Home Analysis Bitcoin Analysis. Share 2 Tweet Share.

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what was the average price of bitcoin in 2020

Bitcoin future price prediction

The general consensus bigcoin positive that Bitcoin will go up, but no one can accurately make a prediction. Aws The opinion expressed here is not investment advice — it is provided for informational purposes. It does not necessarily reflect the opinion of U. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose. Bitcoin has been one of the biggest investments of the century, perhaps even the millennium.

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What do you believe the price of BTC could be in ? Most people have their own thoughts on this, and some have written numerous BTC news and prediction articles. Yet, many people in the cryptosphere love to speculate on just how high the prices of their favorite coins may rise. We scoured the web to find out what the big names in the industry have predicted the Bitcoin price will be in the near future. Moreover, we reached out to experts in the space to see what their opinions were on the matter.


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You should always make a decision if on your own research, so please consider. What are your thoughts on the methods used to reach our conclusions? Hong Kong. For example, NEO and Ripple are able to confirm thousands of transactions per second, so if Bitcoin is to become a global payments system then it must improve technically. The cryptocurrency is traded by individuals with cryptographic keys that act as wallets. One of the stories that illustrate this growth best is that of two pizzas, which were bought for 10, Bitcoins, on May 22,ptice a Florida developer by name of Laszlo Hanyecz. The course growth is facilitated by the rapid increase in the number of network users and the recognition of bitcoin as a legal tender by many companies and financial institutions around the world. He noted that large countries are currently actively developing technology, and China has a good base for. Bitcoin emission is 21 million coins.

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