• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Breaking News: KyberSwap Hacker Demands Full Control, Sets December 10th Deadline
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: KyberSwap Hacker Demands Full Control, Sets December 10th Deadline
bitcoin price will fly to usd 50000

Bitcoin Price Will Go From $20,000 to $50,000 by 2021: Analyst

Osato Avan-Nomayo by Osato Avan-Nomayo
4 years ago
in Bitcoin, Bitcoin Price, News, News teaser
0

Economist and crypto analyst Alex Krüger believes that $20,000 won’t be the all-time high (ATH) bitcoin price for much longer.


Expect Bitcoin Price to Hit $50,000

In a Twitter thread published on Saturday (August 17, 2019), Krüger outlined his argument for the bitcoin price going as high as $50,000 by 2021 at the latest.

According to Krüger, there is a far greater weight of positive driving factors than any negative headwinds that could adversely impact the bitcoin price trajectory.

An excerpt from the thread reads:

Bigger picture, the upside is IMO considerably larger than the downside. Think $BTC will eventually break through $20K, in 2020 or 2021, and once it does, it should trade $30K, $40K and $50K fast. Must be long for when that happens, and enjoy the ride as others FOMO in.

Currently, the bitcoin price is under resistance in the region above the mid-$10,000 level. thus, the top-ranked crypto has appeared range bound between $9,000 and $12,000.

bitcoin price

Possible Drawdown to $8,500

Krüger also addressed the debate about a possible bitcoin price slide to $8,500 — the midway point of the current 2019 performance. Some commentators point to the unfilled CME futures gap at this price level as an indication of a likely retracement.

For Krüger, filing the CME gaps isn’t a given pointing to the absence of significant support or resistance as such price levels. Furthermore, the focus on unfilled gaps often takes away from the non-stop trading activities occurring in the spot market.

However, if bitcoin falls below $9,000 there is every likelihood of a steep fall to this $8,500 price mark. According to Krüger, any further downward slide should be taken as a “gift” — a buying opportunity in preparation to a slingshot advance beyond the current 2019 high.

Headwinds for New BTC Price ATH

While the signs appear bullish for bitcoin in the long-term, Krüger believes that there are significant headwinds for BTC.

The profitability for miners remains high as long as the bitcoin price performance remains positive. Thus, it wouldn’t be unusual for miners to “hodl” not just only profits but revenue to be plugged in to cover the cost of running nodes.

However, this profitability encourages the influx of more miners which in turn raises the hash rate and by extension difficulty. More miners in a bull market often mean lower profit margins so participants aren’t “hodling” as much as before.

Do you think the bitcoin price will reach a new ATH before the end of 2019? Let us know in the comments below.


Images via Twitter @krugermacro and Tradingview.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Osato Avan-Nomayo

Osato Avan-Nomayo

When I am not knee-deep in cryptocurrency-related news, I am either attempting to beat my scrabble high score or internally debating an existential dilemma.

Related Posts

Ethereum

Ethereum Exodus: Validators Jump Ship – What’s Driving The Mass Departure?

4 hours ago
Bitcoin (BTC)

Bitcoin Blunder: Mining Giant Set To Return $3 Million Fee After Record Transaction Mishap

6 hours ago
Binance

Goodbye To BUSD: Binance Announces Complete Phase-Out By December

7 hours ago
Crypto-Based Games

Extinction Looms? Over 75% Of Crypto-Based Games Are Dying, Study Shows

11 hours ago
Bitcoin US Dollar

Renowned Economist Drops Bombshell On The US Dollar: Can Bitcoin Provide Safe Haven?

12 hours ago
Grayscale

Grayscale Initiates Significant Amendments To GBTC Trust Agreement

14 hours ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
Inmerion
Inmerion

Press Releases

  • Must-Have Cryptos for the Holiday Season: $ROE, NEAR, dYdX

    8 hours ago
  • Best Cryptos to buy in 2024? Analysts’ top picks include...

    12 hours ago
  • Top 3 Cryptos to Outperform Bitcoin and Ethereum in 2024

    14 hours ago
  • Flux Launches 11th Parallel Asset on the Base Network to...

    16 hours ago
  • Shiba Inu Teams Up with Boxer Manny Pacquiao as $SHIB Price...

    17 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.