Great cycle. When will Bitcoin rise to 20 thousand dollars?

Again, back to history, because even traditional markets tend to repeat the dynamics of their movement from the past. According to many crypto experts, Bitcoin also moves in similar bull and bear cycles. Right now, the main cryptocurrency behaves in almost the same way as before the end of the global downtrend in 2014. If the market maintains its dynamics, BTC will rise in price to 20 thousand dollars by 2021.

Preparing for flight
Famous trader Alec Zipsnis under the nickname Rhythm Trader noted some similarities between different time periods for Bitcoin. Cryptocurrency charts for 2014 and 2019 are really very similar. Judging by the price movement, a relatively long flat period awaits us, after which a new bullran will begin.

Zipsnis is confident that the asset has already formed its long-term bottom. At the same time, it’s not too much to wait for the new price record - Bitcoin will grow above 20 thousand dollars by the beginning of 2021.

Note that during the previous bearish trend, a strong collapse of volatility was observed in the market. Investors and traders have lost faith in digital assets, which has led to a lack of noticeable activity on cryptobirds. Just now the situation is different - market players still believe in Bitcoin, even despite its strong decline over the past year.

Other analysts point to this fact as one of the prerequisites for a new coin sink. Historical cycles can also be interpreted in different ways. For example, earlier analysts talked about the similarity of the current flat with the lateral movement of Bitcoin in the autumn of 2018. Recall, then it ended in a sharp fall in cryptocurrency below $ 6,000.

Look for more interesting things in our cryptocheat. We also recommend periodically looking into the cryptocurrency rating. Inside the charts, course changes and the actual capitalization of projects and the niche as a whole.