Bitcoin Dips Below $11,000: Analysts Forecast 30% Drop to CME Futures Gap. I think bitcoin might suffers more decreases before the end of the year and making the 20,000$ year end price not realistic.
How can you sure about the price? Do you have basis? The price of bitcoin is currently steady at $10k. We can see it is slowly gaining strength since it broke the resistance at $10500, there is a sign of bullish trends in the coming days or weeks but it doesn't mean we will not experience some bearish times.
Does anyone have basis for speculation? Technical analysis does not even work here for them to claim they are making their statement based on analysis, they just make some exaggeration and then spill it out to the public as they resin it within them which we should be careful the way we speculate because whatever we say to the world is what some people hold on to.
There is need to fully understand that this is not Forex trading where they have very little volatility that gives them the room to be able to predict using TA, in crypto,the volatility is just too much that we might think this is how it will happen and then someone influential could just wake up the next day to influence the market and then change the whole game entirely, so speculating blindly is not really working or worth it.
technical analysis works if you know how to do it and are not just making things up. but how much it works is never going to be 100% not in bitcoin and not in any other markets. the only reason why people say it doesn't work in bitcoin is either the fact that they have never seen any proper analysis or because they stick to very short term and try to predict the unpredictable movements. otherwise it is a helpful tool to have in hand.