The first five weeks of 2020 have been a very good time to be a bitcoin owner. This is because the value of the world’s most popular cryptocurrency has gone up quite a bit since January. However, there are many very experienced bitcoin traders who strongly believe that the best is yet to come. They are predicting that next week will see an explosion in bitcoin value. Only time will tell if these people are correct. There is certainly a lot of excitement in the bitcoin trading community. People are poised to make a very big profit if the prediction of these traders comes true.
A single Bitcoin is now worth $9,800. However, there are numerous very credible sources who feel that next week could see bitcoin trading as high as $12,000. There are various calculations they have used to come to this conclusion. They are also warning that if bitcoin does climb to this height in value, it could also start to drop just as fast. Therefore, people who want to sell and make a profit should do so as quickly as possible. They predict that bitcoin will not stay at a very high price for an extremely long period of time. You will need to move fast if you are going to capitalize and cash in.
Bitcoin has proven to be much harder to predict than many stocks. The fluctuations in value seem to happen for no reason at all. This is why many people are very skeptical about the possibility that bitcoin is going to make a huge jump next week. However, the reality is that it has gone up very steadily this year. Therefore, traders are choosing to look at things in a very optimistic manner. This is very unusual for them.
People are starting to wonder if bitcoin will ever get back to the $20,000 mark that it once hit. Right now, traders would be thrilled if the $12,000 prediction for next week comes true. Bitcoin has rarely been valued at over $9,000 during the past six months. It is not known why it has not been able to go higher. Next week might finally be the end of the value hovering around the same point. It seems very unlikely at this stage that bitcoin will ever see a $20,000 value again. However, stranger things have happened in the past. We will have to wait and see.