Earlier today, Bitcoin (BTC), the leading cryptocurrency by market capitalization, hit the $13,000 mark, as it traded a little above $13K. Even though in the last hours BTC dropped back towards $12,500 level, the most loved crypto in the market is still on the right track to reach $20,000 soon.
More specifically, since the Bitcoin (BTC) jumped over the $8,000 mark, the leading cryptocurrency has been on a continuous surge, gaining more than it lost, something that reflects in the current BTC/USD pair.
Nonetheless, if we were to review the progress that Bitcoin (BTC) witnessed back in 2017, we’ll observe a similar pattern in the evolution of the BTC. Back in 2017, Bitcoin (BTC) also considerably surged once it has broken the bearish trends.
Now, in 2019, the same seems to happen. Accordingly, cryptocurrency market analysts are positive that nothing can now stop Bitcoin (BTC) from surging towards the $20,000 mark. Even more, many believe that the BTC would surpass that level and, by the end of 2021, Bitcoin would trade at above $100,000.
Bitcoin (BTC) is on the right track to hit the $20,000 mark this year
According to Bitcoin (BTC) graph analysis, the closest resistance is now at $12,500 – $13,000, the range in which the BTC is currently trading. At the moment of the writing, Bitcoin (BTC) trades at a little above $12,600 per unit. The BTC witnessed the same resistance in January 2018, but this time, if Bitcoin (BTC) breaks this level, it would surge towards $15,000 without much effort.
After hitting the $15K mark, Bitcoin (BTC) would aim for the $16,500 area, a level that experienced a significant correction back in the first week of December 2017. Just a couple of days after reaching the $16.5K mark on December 7th, 2017, the BTC plunged to $12,800.
However, the same trend might happen this year. But, once Bitcoin (BTC) reaches the $17,400 level (an extremely probable mark later this year), the bulls would sustain the leading cryptocurrency in the market, so the BTC should easily hit the $20,000 mark by the end of the year.
At the time of this article, Bitcoin (BTC)00 trades at $12,604, surging by 11.27% in the last 24 hours. As we can see by reviewing the previous days’ BTC trends, Bitcoin (BTC) is on the right track towards the $20K mark.