RATE Group | Why The Next Bitcoin All-Time High May Not Be As High As Many Expect ⋆ ZyCrypto
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Why The Next Bitcoin All-Time High May Not Be As High As Many Expect ⋆ ZyCrypto

18 Jan Why The Next Bitcoin All-Time High May Not Be As High As Many Expect ⋆ ZyCrypto

Posted at 19:20h in Bitcoin News by

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Bitcoin has had wild swings throughout its burgeoning life but 2019 was generally a great year. The price climbed by over 86% from $3ks to $7,200 by the end of that year. Over the same period, BTC’s hash rate rose from around 42TH/s to over 100TH/s, representing a 140% jump.

Bitcoin started this year with a bang. The flagship cryptocurrency has gained more than 23% year-to-date, and we’re just 18 days into 2020. This stunning rally stirred up speculations about what the asset can achieve. And with the reduction in mining rewards expected in May, some analysts argue it will trigger a massive breakout for the cryptocurrency owing to demand and supply economics.

However, anyone expecting bitcoin to shatter $300k or $1 million in the next bull run is likely to be disappointed. So, where is the ceiling for bitcoin price?

Bitcoin To Hit $85,000 In Next Bullish Cycle

Bitcoin is currently trading just below the $9k which is acting as a resistance….

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