Monday, 06 July 2020

Bitcoin price forecast: Expert hopes for BTC 'Santa Claus' RALLY before year ends

Bitcoin (BTC) prices could end up anywhere between £77.99 ($100) and £779,910 ($1million) by the end of the year, according to an expert holding out for one last bull run this Christmas.

There is no viable way to gouge just how well bitcoin will perform in the coming weeks but analysts remain hopeful. Bitcoin’s performance last year was marked by a meteoric rise to the tune of £15,597.42 ($19,999) per token in mid-December and an equally spectacular crash days later. The price movements attracted a lot of attention and more recent dips this month have reminded investors of the cryptocurrency’s volatility. Today, BTC is exchanging hands for £2,889.47 ($3,704.87) per token, at 4.47pm GMT (UTC), according to crypto tracker CoinDesk.

Mati Greenspan, a crypto analyst at eToro, has now told he was looking at bitcoin’s next testing level in the £2,339.73 to £2,729.68 ($3,000 to £3,500) range.

And though he is hoping for one more bull run before the end of the year, there is nothing analysts can do to predict if bitcoin will end 2018 on a high note or suffer losses greater than those witnessed a year ago.

The bitcoin expert said: “In the short term it’s really impossible to know.

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