BTC may slump to $20,000 and skyrocket to new record highs.


Some analysts expect a drop in bitcoin caused by an extremely fast increase to $65,000 from $10,000. Now, BTC has all chances to slide to $20,000 in order to skyrocket to new all-time highs. In the near future, the first cryptocurrency is likely to fall twofold.

Analysts believe that it is just a downward correction that should not cause concerns as this situation took place several years ago. This is a kind of evolution of a bullish trend. Bitcoin needs to fall in order to accelerate its growth up to $500,000. However, it may reach such levels even without a drop.

A jump in BTC after the current slump will depend on whether big investors and global companies accept bitcoin as a means of payment. For example, Tesla and Visa have already allowed their customers to pay in bitcoins. The more companies add bitcoin to their portfolios, the faster it will reach $100,000. Nevertheless, the current drop is really important. Most analysts do not even worry about the fact that the cryptocurrency may repeat its movement in 2017. Then, it soared to its record high of $19,000 and later tumbled by almost 75%.

The material has been provided by InstaForex Company -