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Prospects for Bitcoin: $15,000 in 2020?

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The cryptocurrency sphere is fertile ground for the most incredible forecasts. Note that some of them, despite being too unrealistic, sometimes come true. For this, it is necessary to carefully monitor the state of the market, fixing anything, even insignificant at first glance, such as trends.

According to experts, one of the conflicting forecasts regarding cryptocurrency number 1 is the statement by Jehan Chu, co-founder of the investment blockchain company Kenetic Capital. According to the crypto enthusiast, this year the market has created all the conditions for a breakthrough movement of the military-technical cooperation to an ultra-high mark of $ 15,000.

Jehan Chu noted three reasons for the potential growth of bitcoin: the upcoming halving of the first cryptocurrency, panic sentiment due to the Chinese coronavirus epidemic and instability in the global economy. In this situation, Bitcoin will become an island of hope for investors along with such protective assets as gold and the Japanese currency, the head of Kenetic Capital is sure.

In addition, Jehan Chu's point of view is shared by other market participants. Many of them believe that the price of PTS will be hindered by the Fibonacci correction level, located at around $ 9075. If subsidence of the leading digital asset does not occur, then it will grow first to $ 9,450, and then to $ 9,600, experts are sure.

At the moment, the price of the leading virtual means of payment has reached a three-month high against the backdrop of increased demand for safe haven assets associated with the spread of the Chinese coronavirus. The pandemic threat contributed to the collapse of global stock markets and commodity prices. According to analysts, fixing a military-technical cooperation above the level of $ 9600 will open the way to the psychologically important level of $ 10,000. Today, on February 5, bitcoin just reached the $ 9,450 mark, which was warned by experts.

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It can be recalled that cryptocurrency No.1 showed the best results over the past seven years in January of this year. According to the results of the first month of 2020, the value of the coin soared by almost 31%, which is the highest level since January 2013. According to analysts, the rapid growth of bitcoin is due to a sharp destabilization of the situation in Asia, in particular in China, where the coronavirus dominates.

Some experts do not share the optimism of the head of Kenetic Capital, who expects the MTC to repeat records at the end of 2017. At the same time, Asian investors are more active than European ones investing in digital assets, but they cannot radically affect the situation. Due to this, analysts call for caution about the prospects of the cryptocurrency market, especially at those moments when the crypto community predicts another historical rally. It is possible that it will take place, but it can break off at any time, since the unpredictability of digital assets exceeds all financial instruments, experts warn.

The material has been provided by InstaForex Company - www.instaforex.com