Despite 25% Correction From Bitcoin’s Peak, Top Analyst Still Expects a Great 2020

Despite the slight recovery, Bitcoin remains decisively down on the week, trending far lower since the $9,200 high was established on Saturday. In fact, from the local top, the cryptocurrency has lost 12%, and over 25% since February’s $10,500 top, dramatically underperforming traditional markets in the same time period.

Many traders have lost their shirts during the drop and, as a result, have begun to fear the existence of a long-term uptrend in the crypto market. Though, leading analysts have asserted that there is nothing to fear, trying to assuage investors’ fears by saying things like Bitcoin still has the potential to hit $15,000 to $20,000 by the end of 2020.

Is Bitcoin Still On Track to Hit $20,000 In 2020?

Speaking to BlockTV in a recent interview, Joel Kruger, currency analyst at LMAX, asserted that while the ongoing price action in this nascent market is currently “interesting,” the drop does not “compromise the outlook for the…