As Bitcoin Reclaims $9.2k, Traders Reveal Bullish Price Trajectory

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Is Bitcoin headed to a serious upswing in the next one year?

That’s the question posed by stock-to-flow creator Plan B. To get the people’s accurate input, Plan B made a twitter poll asking people about their opinion about Bitcoin’s price by December 2021.

The figures ranged from below $55k to $288k. The poll ended with around 42.5% of the voters agreeing that Bitcoin will cost less than $55k before December 2021. Of the rest, 17.2% think the price will be around $55k, 22.9% are for $100k, and 17.4% support the price at $288k.

Buying Not Easy Enough

According to one commenter, one major reason for the final result could be the difficulty of buying Bitcoin.

The user claims that it’s still not easy enough to buy Bitcoin, and this means that a lot of people who may actually want to own some BTC don’t get to buy it easily. Basically, this difficult can affect the crypto’s adoption and ultimately its price.

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Bitcoin To Hit $14k This Year

However, besides the 2021 projection, one trader is of the opinion that Bitcoin must reach a high of $14k by the end of 2020. In a comment, the user mentions some of the major events of 2020 that could push Bitcoin’s price from the current price level of $9,203 to the $14k mark.

The user mentions the global Coronavirus pandemic, the excessive printing of money by the FED, USA’s 2020 presidential elections, and the Bitcoin halving of May 2020. Granted, these are all events that could play a grand role in Bitcoin’s price action in the near future if the market dynamics swing in its favor. 

It’s Risky Not To HODL BTC

Going on, Blockstream’s CSO Samson Mow recently opined that not owning some Bitcoins is a risky move.

Indeed, there have been serious moves even by investment firms like Grayscale to accumulate as much Bitcoin as possible. From an optimistic point of view, this progressive accumulation could point to a serious bullish sentiment that intimates that a mega bull run is closer than expected.