The Bitcoin exchange rate has stepped over the $ 8000 mark. What’s next?
Bitcoin is growing rapidly. Since the beginning of 2020, the cost of crypto coins has increased by almost 10% – from $ 7138 to $ 8146. According to experts, this is not the limit. By mid-February, the cost of cryptocurrencies may exceed $ 10,000.
BeInCrypto analyzed the value of bitcoin on various cryptocurrency exchanges and compiled a brief report. So, on the morning of January 9, the price for one BTC is from $ 7927 to $ 8162.
One of the world’s largest cryptoexchanges offers its customers bitcoin at a price of $ 7,932 apiece. The average daily drop in value is 4.96%. The maximum price registered in 24 hours is fixed at $ 8418.
By the way, the exchange introduced a new pair. Now you can buy bitcoins for Australian dollars.
The average daily price of bitcoin is $ 7931 apiece. The fall in prices over 24 hours was about 4.48%. The maximum price was fixed at $ 8420, and the daily trading volume amounted to 65,579 MTC.
The price of bitcoin on this exchange is the maximum and is $ 8156 apiece. The drop in value was only 1.26%. It is worth noting that during the day, bitcoin was trading at a price ranging from $ 8080 to $ 8596. Toward morning, the price dropped to $ 8213 and is now at a level not exceeding $ 8156 per MTC.
Kraken cryptocurrency exchange sells bitcoin at a price of $ 7916 apiece. At the same time, the daily trading volume amounted to 9272 MTC. The daily drop in prices was recorded at around 5.06%, and this is the highest percentage drop in value recorded on cryptocurrency exchanges.
Despite the fact that the cost of bitcoin began to decline, cryptanalysts recommend not to rush to conclusions and not to sell coins in this period. According to expert forecasts, by mid-February 2020, the price of military-technical cooperation may reach a new annual maximum and approach the mark of $ 10,000 – $ 11,000.
2020 – the year of Bitcoin
Well-known cryptanalyst and investor Tony Weiss in his author’s video shares forecasts on the growth of Bitcoin value for 2020. He is confident that in February the price of the military-technical cooperation will reach the limit of $ 10,000 apiece. Closer to the halving, which is scheduled for May of this year, the cost will decrease slightly, and then again go up. By the end of the year, the price of one MTC will not fall below the $ 9,000 mark, but will not exceed the $ 10,000 milestone. This figure will be the starting point for intensive growth in 2021, when most people who consider themselves to be a cryptocurrency community will finally understand that in the future there will be only one strong and investment-attractive coin – Bitcoin.
Tony Weiss assures that the current year 2020 will be the “year of bitcoin.” Firstly, the expected halving should significantly strengthen the Bitcoin network and affect the cryptocurrency price increase. Secondly, more and more young and financially successful people will begin to invest in bitcoin, abandoning other crypto coins.
According to Tony Weiss, in the next 5 years, Bitcoin will kill Litecoin and Ethereum. As the expert himself says in his video, the price of altcoins has already fallen below all limits. Holders of altcoins do not make sense to sell them, as they will remain in the red, but buying LTC, ETH or other coins of this group is also not worth it. All free money today needs to be directed to the purchase of bitcoin, so that in 2021 and subsequent years to earn on the growth rate.
Recall that most cryptocurrency experts predicted an increase in the value of bitcoin from the beginning of 2020. It seems that the forecasts do come true. Let’s see what will happen next. BeInCrypto constantly monitors cryptocurrency price changes.