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Bitcoin forecast, for Hayes BTC $ 20.000 at year end

It is not a certain secret that the last few weeks have been particularly difficult for investors on Bitcoin. Last month, March 2020, was a real obstacle course, with over $ 12 billion worth of BitMEX positions liquidated during the March 50 crash, and with cryptocurrency slipping XNUMX% from own previous quotes.

However, some prominent analysts are beginning to believe that the market for cryptocurrency is heading towards a brighter future. And this, of course, also applies to Bitcoin.

Bitcoin is preparing for a 180% rally in 2020

On the eve of the drastic 50% drop in stock prices, which occurred last month, Arthur Hayes, CEO of BitMEX, published the March edition of his newsletter "Cryptocurrency Trader Digest ".

In it, the CEO stated that the world was facing a "global margin call”From which Bitcoin would not escape. Oddly, within hours of publication, his prediction proved correct, with the cryptocurrency plunging into an abyss, as did all the major global markets - from commodities to stocks.

The CEO then went back to talking about Bitcoin with another prediction: in the April edition of the newsletter, in fact, Hayes wrote that although Bitcoin has the potential to retest the $ 3.000 once again if global markets turn around, its year-end price target "remains at $ 20.000," 180% of the current price.

As for why he believes this could happen, the manager cited that the monetary and fiscal solutions that governments and central banks are adopting to avoid the crash of the international economy and finance could play a favorable role.

“Everyone knows that change is upon us, which is why central banks and governments will use all their tools on this issue. And I repeat, this is inflationary, because more fiat money will end up chasing down a supply of real and labor goods "- announced Hayes, to then underline that there are only two assets to be possessed during the transition to new system, whatever it is, namely gold and Bitcoin.

Hayes' optimism is echoed by other leading executives in the cryptocurrency market. According to previous NewsBTC reports, Galaxy Digital's Mike Novogratz, Real Vision's Raoul Pal and Pantera Capital's Dan Morehead - all former institutional traders turned crypto bulls - BTC will surpass $ 20.000 in the next 12 months.

However, not everyone thinks so. According to data shared by Skew.com, the tracker of cryptocurrency derivatives, traders of Bitcoin options of December 2020 are currently evaluating the price with a 5% probability that the crypto currency exceeds $ 20.000 by that time.

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Roberto Rais

A great cryptocurrency expert and a long time collaborator. He actively follows several specialized Blogs in the cryptocurrency sector as Editors

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