There is no denying that the owners of a cryptocurrency without the slightest doubt can safely count the beginning of 2020 as really very successful. The last two weeks have brought with them a really significant appreciation of virtual currencies. The largest in terms of capitalization and also the most popular one gained over twenty-four percent during the same period. We must admit that this is the best result since 2012.
Bitcoin is really the best start of the year and it’s been eight years since
Looking at the quotations of the oldest of the virtual currencies, we immediately notice that the BTC price itself has increased by more than twenty-four percent (counting from the beginning of the year, of course). We must admit that this is the biggest appreciation in the first two weeks of the new year in eight years.
It is certainly worth noting at this point that as a result of such significant increases in Bitcoin’s quotations, they have broken the downward trend line, which lasted from the second half of June 2019. It should also be noted that from a purely technical point of view this could open the way for further appreciation in the near future.
Bitcoin price highest since November 2019
When we consider that any observed trends in the quotations of many altcoins are largely correlated with the price of Bitcoin, it is not surprising that they too have recently experienced significant increases. Surely what may come as a surprise is the range of these movements themselves. The price of Ethereum itself has increased by more than thirty-two percent. The price of Litecoin, on the other hand, has increased by more than forty-eight percent. And what is the price of Bitcoin Cash, Dash and Bitcoin SV?
We are extremely curious. As far as Bitcoin Cash is concerned, the price has increased by eighty percent (it is impressive, right?) As far as Dash is concerned, here it can boast an increase of two hundred and thirty-seven percent. Bitcoin SV, on the other hand, has increased by the most percentage points. This is an increase of over 370 percent.
In Luno Vijay Ayyar Head of Business indicates that most people think this could really be the beginning of a completely new upward trend. As we will see for ourselves.
In turn, analyst Benjamin Cowen believes that by 2023 the price of BTC alone could rise to one hundred thousand USD. In 2030 it could be around USD 500 thousand, and between 2038 and 2040 it will be one million dollars. We must admit that these forecasts are very impressive for each of us. However, we don’t know how to address this. We have pretty mixed feelings. On the one hand, it sounds unbelievable, and on the other hand, we see that more and more analysts also think so, and in a sense, we are also convinced of their opinion. After all, they are the experts in this field, right? Yes, they are. We have nothing but expectations when this is all over.