BitMEX Research Predicts Bitcoin Trading Between $2K and $15K in 2020

Tony "The Bull" Severino

5 years ago

2 mins read

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BitMEX is currently the dominant trading platform across the cryptocurrency market, and often speaks to or makes predictions about the state of Bitcoin with enough authority that people do indeed listen up intently.

They’ve even made some accurate predictions about Bitcoin price in the past, and are now predicting that the leading cryptocurrency by market cap will not set a new all-time high in 2020, and will trade no lower than $2,000 but not higher than $15,000 during the new year.

BitMEX Research Makes Predictions On Bitcoin Price for 2020

The new year is almost upon us, and its time to not only reflect on the past year, but to make bold predictions as to what may occur in the upcoming year.

In the past, BitMEX CEO Arthur Hayes and his team have made accurate predictions about Bitcoin’s bottom. In their latest tweet, the BitMEX Research team have made some predictions about the future price of the first-ever cryptocurrency.

The predictions suggest that Bitcoin price won’t trade any lower than $2,000, over $1,000 lower than the current bottom of the bear market – a price Bitcoin set over a year ago today.

If that isn’t the low for the bear market, Bitcoin price would need to revisit the low around $3,100, and that retest of support would need to fail for bears to buy $2,000 or lower BTC.

On the high end, Bitcoin price won’t break above $15,000, about $1,000 higher than the most recent local high it reached back in July 2019, before reentering a downtrend for the past five months.

2020 Predictions:

– $BTC over $2,000, but also under $15,000
– $BTC dominance under 75%, but also over 30%
– CSW says: 2021 is year the Chinese shutdown BTC mining & 1m of his coins hit the market (Whatever else)
– #MATIC falls in value by over 80% @NemanjaMatic

Happy New Year

— BitMEX Research (@BitMEXResearch) December 24, 2019

BitMEX Research also mentions that they think Bitcoin dominance, the metric that weighs BTC against the altcoin market, will remain over 30%, but under 75%.

They also say that Craig Wright will continue to make drastic claims about flooding the market with his coins, and that controversial altcoin Matic will fall in value by over 80% – something that investors in the crypto asset have recently become accustomed to.

Most crypto investors are expecting Bitcoin to break its all-time high in the new year with the halving coming up this May 2020. The asset’s stock-to-flow model suggests the asset will reach prices of $55,000 per BTC by then, but the model’s validity has recently come into question.

Only time will tell if any of these predictions end up ringing true, but for now, predictions are bound to flood the market more than Craig Wright’s coins as the year comes to a close in the wild world of cryptocurrency.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.