Will Bitcoin Price Rise Above $18,000 in 2020 ?

Bitcoin rose to its highest value since December 2017 on Tuesday evening, above $ 18,000. Indeed, Bitcoin was worth only over $18,000 a few days before this week at the peak of the 2017 Bitcoin boom between 16 December to 19 December.

Following a high of some $19,500 in December 2017, in February 2018, the monetary value fell to $6,000, then in December to $3,200. Since then, its value has grown and increased late on Tuesday, over $18,000.

Bitcoin’s value dropped a little during trading on Wednesday morning. When I write, a bitcoin is worth $17,800.

A number of major investment companies and financial service providers have shown an increase in Bitcoin’s price interest. In a recent month, an investment company named MicroStrategy spent $425 million on Bitcoin. Last month, Square announced an investment in $50 million bitcoin.

In October, PayPal announced that it was supporting bitcoin and last week opened the public service. Ricardo Salinas Pliego, the Mexican billionaire, revealed recently that he has invested 10 percent of his liquid portfolio in cryptocurrency.

However, the last boom is not guaranteed to continue. Bitcoin seemed to be in the middle of a robust recovery in spring 2019, for example, from 3,200 dollars in late 2018 to 14,000 dollars in June 2019. But then the rally went away and Bitcoin collapsed to $4,000.

Thus, in the coming months, bitcoin’s price may rise over $20,000. But it could just as easily crash, hitting people who jumped into the peak with big losses. Investors ought to be careful.

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