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As Jan. 2020 comes to a close, the Bitcoin price is up 32% this month.
As one analyst points out, if this continues every month, the BTC price will reach $152,000 by the end of the year.
In a tweet that garnered thousands of likes and replies yesterday, Bitcoin (BTC) analyst and developer Crypto₿ull pointed out that Bitcoin is up 32% this month. He added:
“Bitcoin is up 32% this month. If we go up 32% every month this year we will be at $152,000 in December.”
That’s a pretty eye-opening BTC prediction 2020 thought. Of course, there’s absolutely no guarantee that BTC will repeat its January success every month this year.
And of course, he received several replies pointing out that 32% a month was “unrealistic” and that “Nothing goes up in a straight line.”
However, Crypto₿ull added that for those who thought that 32% a month sounded like “madness,” they just needed to look back at 2017.
“To those of you who think 32% monthly sounds like madness. 2017 opened at $960. It reached as high as $19,666 in Dec. That equals an average of 32% every month. Bitcoin gains are the definition of madness.”
In other Bitcoin news today…
An analyst who predicted Bitcoin’s $3,000 2018 bottom expects this next bull run to break a minimum of $14,000 highs.
“took a much needed couple days off to clear the head from a macro POV we can see a very clear 5 wave rise from the 6k lows breaking key down trend. considering the rise from the 2018 lows was also 5 waves we would expect this next bull run to at minimum break the 14k highs”
His Elliot Wave analysis suggests that Bitcoin has a high likelihood of breaking $14,000 — 48% above the current price point of $9,400 — by the middle of 2020, likely around or just after the time of the block reward reduction in May 2020.
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