Well we have seen Bitcoin nearly touch $16k last night, with that in mind what do you think is in stock for Bitcoin for the remainder of 2020? Do you think we will see it break past $20k?
I can not say anything before Christmas and New Year, these two festivals may highly affect on bitcoin price and market. I am sure people may use bitcoin to celebrate the events. Anyways same thing happen in 2017. People sold their all coins which decrease the bitcoin price from $20,000 to $7,000. This crash just breaks the record of bitcoin falling. 2021 may bring more improvement and I hope we'll see $20+ next year
Anyone will sell their Bitcoin and followed by the dumpers. I've found it normal at that time, many crypto holders will convert their Bitcoin into their local currency to buy food and gifts in the market. If we could notice that in the previous years, the market price will surge in the 3rd quarter and it dumps as the Christmas season is over. Could be this possible to happen again and again.
We are still far from $20k, currently at $16,700 will probably end up to $17k-$18k range.