Bitcoin is currently trading at $9,107, up 27% since the beginning of 2020. Many analysts have tried to predict the price of Bitcoin this year. Many analysts and investors like to predict the price of Bitcoin in the future. For the most part, Bitcoin hasn’t moved a lot from its initial price in January. After the huge surge towards $10,000, BTC/USD crashed following the movement of the global stock market in reaction to the pandemic and has finally recovered to practically the same price it had in late-January. Botched predictions in the first half of 2020 Starting with Timothy Peterson, manager of Cane Island Alternative Advisors and author of ‘Bitcoin spreads like a virus’ has stated that Bitcoin was close to $75,000 in a Tweet on June 8. Unfortunately, Bitcoin was not weeks away from $75,000 and in fact, crashed three days later to $9,113 from the top of $9,992. Another popular analyst, Crypto Michael has stated that Bitcoin was on schedule to break $10,500 and continue towards $12,000. Although this prediction is far more conservative, Bitcoin failed to break above $10,000 several times already. Thomas Lee, one of the most infamous Bitcoin analysts, known for his past failed predictions stated that Bitcoin will see 197% gains on February 5 because of a break of the 200-MA. Of course, as we all know, Bitcoin didn’t see a 197% price increase but rather a 40% crash on March 12 followed by a recovery to essentially the same price. An older prediction by Thomas Lee stated that Bitcoin will reach $91,000 by March 2020 based on Bitcoin’s performance after market dips. Unfortunately, Bitcoin crashed towards $3,000 in March. John McAfee, also quite infamous for his predictions, was also wrong as he predicted Bitcoin to reach $1 million by 2020. Although 2020 is not over, McAfee himself has stated that his prediction is actually ‘nonsense’. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/CAD Price Analysis: Remains vulnerable below ascending trend-line, 200-hour SMA FX Street 3 years Bitcoin is currently trading at $9,107, up 27% since the beginning of 2020. Many analysts have tried to predict the price of Bitcoin this year. Many analysts and investors like to predict the price of Bitcoin in the future. For the most part, Bitcoin hasn’t moved a lot from its initial price in January. After the huge surge towards $10,000, BTC/USD crashed following the movement of the global stock market in reaction to the pandemic and has finally recovered to practically the same price it had in late-January. Botched predictions in the first half of 2020 Starting with Timothy Peterson,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
