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We predicted that Bitcoin could well hit $20,000 before 2020 ends. Just a moment ago, Bitcoin jumped over US$20,000 for the first time in history.
Despite the pandemic, the continuous and constant uprise tells a lot about the future of cryptocurrency. Just over a couple of years ago, Financial giants such as Warren Buffett had marked Bitcoin as a Bubble saying it will meet a bad fate.
On the contrary, people like Robert Kiyosaki voiced their opinion in the favor of Bitcoin. He even tweeted saying the U.S dollar is dying and people need to pay close attention to buying assets such as Bitcoin and Gold.
Bitcoin is trading at 20,724.70 United States Dollar at the time of writing this article.
History:
Just over 3 years ago, Bitcoin was worth over $1,000 for the first time since 2013. Surprisingly every December orchestrates ways for a rise in the price of this cryptocurrency but also results in a nose dive of price by the end of the last week of the month. On December 29, 2016, we published an article speculating about the price of Bitcoin jumping over $1,000 for the first time ever.
A year later, on October 31, 2017, we reported that Bitcoin price jumped over $6,000. There was a huge jump in price from $6,000 to over $10,000 within a span of 3 months.
In November 28, 2017, we reported that Bitcoin just touched $10,000 and could go to $40,000 by the end of 2018
Again the December saw a rise in price but by the last week of the month, the Bitcoin price dropped below $13,000 even though it was forecasted to hit US$20k by 2017 end.
The next year saw amazing swings in pricing. On January 17, 2018, we reported that Bitcoin dipped below $10,000.
Around February 16, 2018, the currency price recovered and began on its journey of price rise and was anticipated to hit $20,00 by the end of the year 2018 but that did not happen. Not only the price dropped badly, took a nose dive all throughout 2018 and 2019 and the good part of the 1st quarter of 2020.
People started losing hope in the fate of this cryptocurrency.
Current State:
Currently, Bitcoin is battling between Bulls and Bears. It is a huge comeback of 2020 and the price rockets past $20k setting new all-time highs.
