{"id":518532,"date":"2023-02-03T23:00:18","date_gmt":"2023-02-03T23:00:18","guid":{"rendered":"https:\/\/ktsl888.com\/?p=518532"},"modified":"2024-06-11T08:06:43","modified_gmt":"2024-06-11T08:06:43","slug":"will-bitcoin-price-return-to-20000-heres-what-investors-expect","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/will-bitcoin-price-return-to-20000-heres-what-investors-expect\/","title":{"rendered":"Will Bitcoin Price Return To $20,000? Here\u2019s What Investors Expect"},"content":{"rendered":"

Bitcoin price is still trending comfortably above the $23,000 level as it maintains its bullish trend. This has continued for a couple of weeks now, propelled forward by the newly adopted dovish stance of the United States Federal Reserve. However, not all investors have embraced this bullish trend as many still expect a decline in price for the digital asset.<\/p>\n

Bitcoin Price Could Trade At $20,000 Soon<\/h2>\n

According to the Price Estimates feature on Coinmarketcap<\/a>, a good number of investors are expecting a bearish reversal for the bitcoin price. Price Estimates is a feature on the data aggregator website that allows individual users to put in their price expectations and then gives an estimate of all of the predictions.<\/p>\n

Related Reading: Are Nigerians Really Buying Bitcoin For As High As $34,000?<\/a><\/div>\n

In the current round of forecasts, the bearish sentiment surrounding the digital asset seems to be heightened as the median estimations came out to a price of $20,000. If this plays out, then the price of bitcoin could reach this level by the end of February according to the Price Estimates feature. It would also be a 14.69% drop from the current price.<\/p>\n

\"Bitcoin<\/p>\n

BTC price estimates puts it over 14% lower | Source: Coinmarketcap<\/a><\/pre>\n
Interestingly, the bearish expectations are not just limited to the month of February alone but span over the next five months. The median of 8,053 votes came out to a price estimate of $19,500 for the month of March, $18,426 across 5,294 votes for the month of April, $17,6660 across 3,617 votes for the month of May, and $18,555 across 2,161 votes for the month June.<\/p>\n
Owe 34,000 votes have been collected in total by the Price Estimates feature and the estimation average came out to $20,203.57 across all of the votes. The median estimate was much worse at a price of $19,659.<\/p>\n
\"Bitcoin<\/p>\n
BTC price recovers above $23,500 | Source: BTCUSD on TradingView.com\u00a0<\/a><\/pre>\n
BTC Price Still Shows Strong Fundamentals<\/h2>\n
Presently, while there have been speculations that the current upward movement of bitcoin is a bull trap, the digital asset is still showing strong fundamentals which suggest the price may continue to rise. One of these is that cryptocurrency is still trading well above all important moving averages.<\/p>\n
Related Reading: Crypto Market Still Reeling As Bitcoin\u2019s Break Above $24,000 Triggers Liquidations<\/a><\/div>\n
The digital asset has now established support right above $23,000 which means that the bulls are still well in control. The $24,000 may have been elusive but bitcoin still maintains enough momentum for a retest. In the last 24 hours, it has seen trading volumes above $29 billion. As long as the bulls can hold the bitcoin price above $23,000 going into the weekend, the possibility of a crash remains slim.<\/p>\n
BTC is currently trading at just Aviv $23,400 at the time of this writing. It is down 1.53% in the last 24 hours but is seeing gains of 2.08% in the last seven days.<\/p>\n
Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from Forbes, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is still trending comfortably above the $23,000 level as it maintains its bullish trend. This has continued for a couple of weeks now, propelled forward by the newly adopted dovish stance of the United States Federal Reserve. However, not all investors have embraced this bullish trend as many still expect a decline in price for the digital asset. Bitcoin Price Could Trade At $20,000 Soon According to the Price Estimates feature on Coinmarketcap, a good number of investors are expecting a bearish reversal for the bitcoin price. Price Estimates is a feature on the data aggregator website that allows individual users to put in their price expectations and then gives an estimate of all of the predictions. Related Reading: Are Nigerians Really Buying Bitcoin For As High As $34,000? In the current round of forecasts, the bearish sentiment surrounding the digital asset seems to be heightened as the median estimations came out to a price of $20,000. If this plays out, then the price of bitcoin could reach this level by the end of February according to the Price Estimates feature. It would also be a 14.69% drop from the current price. BTC price estimates puts it over 14% lower | Source: Coinmarketcap Interestingly, the bearish expectations are not just limited to the month of February alone but span over the next five months. The median of 8,053 votes came out to a price estimate of $19,500 for the month of March, $18,426 across 5,294 votes for the month of April, $17,6660 across 3,617 votes for the month of May, and $18,555 across 2,161 votes for the month June. Owe 34,000 votes have been collected in total by the Price Estimates feature and the estimation average came out to $20,203.57 across all of the votes. The median estimate was much worse at a price of $19,659. BTC price recovers above $23,500 | Source: BTCUSD on TradingView.com\u00a0 BTC Price Still Shows Strong Fundamentals Presently, while there have been speculations that the current upward movement of bitcoin is a bull trap, the digital asset is still showing strong fundamentals which suggest the price may continue to rise. One of these is that cryptocurrency is still trading well above all important moving averages. Related Reading: Crypto Market Still Reeling As Bitcoin\u2019s Break Above $24,000 Triggers Liquidations The digital asset has now established support right above $23,000 which means that the bulls are still well in control. The $24,000 may have been elusive but bitcoin still maintains enough momentum for a retest. In the last 24 hours, it has seen trading volumes above $29 billion. As long as the bulls can hold the bitcoin price above $23,000 going into the weekend, the possibility of a crash remains slim. BTC is currently trading at just Aviv $23,400 at the time of this writing. It is down 1.53% in the last 24 hours but is seeing gains of 2.08% in the last seven days. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from Forbes, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":518535,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,1144,78790],"class_list":["post-518532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nWill Bitcoin Price Return To $20,000? 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/ktsl888.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Will Bitcoin Price Return To $20,000? 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