Will Bitcoin Get Back to Its Winning Ways in 2020?

Bitcoin (BTC) price is the leading coin in the crypto market, but even this coin was not spared by the ongoing bearish wave. The past three months have seen the price of BTC moving at intermittent phases of highs and lows indicating the huge volatility. The price has been moving in the range between $6747 – $10118 during this period.

Bitcoin Price Analysis

BTC had a good start but slowed down due to bearish pressure during the 3 months. The price was at a high of $10118.52 on October 26, 2019. Then, after 30 days, the price of Bitcoin fell to $6747.20 showing a downward movement to the tune of 33.21%. In the next 4 days, the currency managed to trade upwards to $7775.56 by 15.08% hike.

On December 18, 2019, the price again fell by 12.13% and reached $6810.81. However, BTC showed a winning streak when its price traded upwards and reached to $9015.95 by a huge upswing of 32.38%. At the time of writing this piece, Bitcoin was trading at $8658.72.

Bitcoin price has had to see many fluctuations due to the volatility. However, the onset of the new year 2020 has brought some cheers for the community, with the price moving in the upward direction. Analysts are hopeful that BTC will lead the way for a bullish wave. Investors should continue to trade in the coin as it has great potential for the long-term. Day traders can grab this opportunity and make quick gains.