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Home Cryptocurrency news Bitcoin

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

Tony Spilotro by Tony Spilotro
1 year ago
in Bitcoin, Cryptocurrency news
Reading Time: 2min read
bitmex research crypto bitcoin
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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.

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Related Reading | Bitcoin Price Reaches Fair Market Valuation, While Costs of Production Rise

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.

Related Reading | Bitcoin Must Clear Multiple Resistance Levels Before It’s Out of The Woods 

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.

Tags: bitcoinBitMEXcryptopredictions
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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