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Crypto-Analysts Speculate That Bitcoin May Hit $20k in the Coming Months

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Oct 17, 2020
Crypto-Analysts Speculate That Bitcoin May Hit $20k in the Coming Months

By now, the people following the crypto-world are well aware of the top cryptocurrency, Bitcoin (BTC). Since its launch in the year 2009, Bitcoin has been unbeatable by any other cryptocurrency. In these eleven years, more than sixteen hundred cryptocurrencies have been created and launched.

All these cryptocurrencies were developed and launched by programmers with hopes that they would be able to beat bitcoin but to no use.

However, the current year has turned out to be full of surprises for the crypto-users, especially the Bitcoin (BTC) traders. In the current year, the prices of Bitcoin (BTC) have been pretty volatile but it has managed to stay about a figure of $10,000 per BTC.

By now, Bitcoin (BTC) has caught the attention of many investment firms and high-profile traders. One such personality is Mohit Sorout, who is the founding partner of Bitazu Capital. As per Mohit Sorout, if Bitcoin (BTC) manages to keep its price above the $10k figure, it will eventually break out and would hit a record high price.

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Since the month of July 2020, the price of Bitcoin (BTC) has been fluctuating between a 15% range. So far, Bitcoin (BTC) has managed to stay between the figure of $10,200 and $11,800. This has again proven that Bitcoin (BTC) is full of surprises as it as apart from a short period of time, it has managed to evade volatility spike.

As per many crypto-analysts and commentators, Bitcoin (BTC) has always demonstrated an increase in its price if it managed to remain stable. The same has been the case here as Bitcoin (BTC) has remained somewhat stable since July 2020. If the trend continues, the prices of Bitcoin (BTC) will show a significant increase.

Following his speculations around the Bitcoin (BTC) prices, Mohit Sorout did make another comment. He stated that even if Bitcoin (BTC) is unable to break-out, its price would still remain above the $10k per BTC mark. However, if it is able to break-out, then the minimum price it would hit would be $20k per bitcoin.

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