RATE Group | Bitcoin Price Bullrun May Last 1000 Days as 2020 Now Best Average Year
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Bitcoin Price Bullrun May Last 1000 Days as 2020 Now Best Average Year

22 Feb Bitcoin Price Bullrun May Last 1000 Days as 2020 Now Best Average Year

Posted at 13:20h in Bitcoin News by

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Bitcoin (BTC) is worth more in 2020 than any other year it has existed — and historical data suggests that its price will continue climbing for another 19 months.

Data uploaded to Twitter by fund partner James Todaro on Feb. 21 reveals that in terms of volume-weighted average price, 2020 is Bitcoin’s best year ever.

BTC volume-weighted average: 2020 biggest year

The volume-weighted average calculates the Bitcoin price over a certain period as a ratio on the basis of trading. 

For 2020, the average for BTC/USD is $9,120, according to Todaro’s calculations. This is higher than even 2017 when the pair reached its current all-time high of $20,000. For that year, the volume-weighted average was $6,125.

Curiously, the metric actually produces a higher value for 2018, despite this being the year that Bitcoin spent in a near-constant bear market bottoming out at $3,100. 2018’s average was $7,657.

On the surface, 2019 was much more successful in terms of spot price, but Bitcoin’s…

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