Bitcoin Must Gain 13,800% in 2020 to Stop John McAfee Eating His Words

Bitcoin (BTC) traded broadly sideways on the first day of the 2020s as consensus swirled ever stronger around a Q1 breakout. 

Cryptocurrency market daily overview. Source: Coin360

BTC in line for uninspiring January

Data from Coin360 and Cointelegraph Markets showed Bitcoin making a decisively calm start to its third decade, with volatility staying away from markets into Wednesday.

At press time, BTC/USD traded at just under $7,200, cementing a week in a narrow corridor between $7,090 and $7,495.

Bitcoin 7-day price chart. Source: Coin360

The slow yet choppy conditions follow a sudden breakdown in the third week of December, which saw the pair dip to its lowest levels in over seven months — around $6,460. 

Since then, Bitcoin has broadly coalesced around the $7,200 mark, with brief trips higher quickly reversing.

The status quo is likely to continue, analysts say, with the short-term prognosis for BTC/USD showing little signs of starting a new trend.

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