Bitcoin Will Retrace To $20,000 Soon As BTC’s Growth Is Tied To Tether Issuance

Bitcoin News Today – In a strange development, Bitcoin news today learned that cryptocurrency analyst with handle FilbFilb has declared that Bitcoin’s upward surge can be tied to the issuance of 1 billion Tether as well as the market structure and Bitcoin’s long term framework. The analysts gave a Bitcoin price prediction favoring a bullish trend for the BTC leading to Bitcoin’s halving event in 2020.

Bitcoin News Today – Bitcoin Price Prediction 2019 – Current Supply Of Tether Show That BTC Will Retest $20,000 Soon

Unlike the enthusiastic crypto analysts FilbFilb, other crypto analysts have broken into three schools of thought since the BTC hit an all-time 2019 high of $13,800 and have been unable to climb to that mark ever since. One school of thought believe that every upward climb of the BTC is short-lived and that the BTC will drop to the $7,500 to $8,500 range.

Bitcoin (BTC) Price Today – BTC / USD

#NamePrice24H %
1
bitcoin
Bitcoin(BTC)
$8,081.00
-1.08%

The second school of thought gave a Bitcoin price prediction that puts the BTC at the $9,000 to $12,000 price range. This category believes that the BTC will spend time consolidating its price and would remain in this price range. These analysts predict that this would open the doors for institutions and savvy traders to take advantage of the consolidating period to invest before Bitcoin’s halving event in 2020.

The last school of thought believes that the BTC’s inability to climb higher than its all-time high of 2019 as a tiny hitch. They give a BTC price prediction favoring the BTC to rise higher than the $13,500 it achieved this year. This last category believes that the BTC will reach $20,000 soon.

Bitcoin news today also learned from the analyst FilbFilb that Bitcoin BTC had undergone a shift for some reasons. One reason the analyst gave was the fact that records show that the BTC had broken above the $12,000 four times and the possibility of doing that again was very high. Another reason FilbFilb gave for Bitcoin’s shift over time was that the BTC was consolidating at $11,800, a level that was resistance in 2018. FilbFilb believes that the $11,800 level was now a level that was constantly attainable by the BTC

Bitcoin News Today – Bitcoin Price Prediction 2019 – Bitcoin Price Analysis – Bitcoin May Be Tied To Tether

Analyst FilbFilb studied the pattern in the market and predicted that the issuance of the 1 billion Tether reflected in an increase in the price value of the BTC. He has used this model to give a Bitcoin price prediction of $20,000 should the market cap for Tether reach $4.34 billion. He also used this calculation to get a value of $13,500 for the 1 billion issuances of Tether. This prediction is close to BTC’s all-time high of 2019 and has given his model credibility.

Of recent, the cryptocurrency market has been benefiting from the worsened state of the traditional financial market. Bitcoin is been seen as a replacement for the gold as a reserve. Analysts believe that the present macroeconomic landscape is creating the ideal platform for the acceptance of the Bitcoin and the cryptocurrencies as a viable alternative for investors looking for assets. Researchers believe that more investors are likely to turn to Bitcoin and Tether will be seen as an easy way to lay hold of digital assets.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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