Bitcoin Could Be Heading Straight To $20k If It Surpasses The $11,700 Hurdle

Mike Novogratz Thinks Bitcoin Will Be Worth More Than $20k By 2021

Josh Rager, one of many crypto analysts on twitter, in one of his recent tweets brought to the community’s notice his opinion on the most valuable cryptocurrency, Bitcoin (BTC). Mr. Rager believes there will be no stopping for bitcoin if it crosses the $11,700 mark till it hits its current all-time high of about $20,000.

Started As A Joke, But Now Looking Real

Josh Rager, back in June had referred to this same view. In his words, back then, he said he jokingly mentioned his thought which was BTC closing above the $11,700 mark. However, since then, bitcoin’s price has been trading sideways slightly below his forecast and the weekly support level of $9,500. Apparently, the market has taken Mr. Rager’s words more seriously. However, what’s left is to see a close above his suggested viewpoint.

Though he’s now more convinced of his opinion now more than ever, he hasn’t placed any timeframe for this to happen. In fact, in another tweet, Josh had admonished the crypto twitter to be patient. In his analysis, he mentioned that BTC’s price never experienced the “magical flow” everyone is expecting in today’s market.

In fact, Josh said that the next peak-high may be in a few years from now. Therefore, only those who are patient enough would reap this benefit as he emphasized in his own words that “good things come to those who wait”.

BTC at 8K Still Very Much Possible

Though Josh Rager strongly believes in his opinion, he also thinks the only way it will come to pass is if the bulls begin to savage bitcoin’s present situation. Else, bitcoin’s price may be sliding towards the $8,000 mark in a couple of days.

In another tweet which he shared on Tuesday, 10th September, according to his analysis, BTC’s price had broken through the 20MA support line which it’d held firm in the past couple of days.

With this latest development, Josh opines that BTC’s price is going to retest its previous support of $9,000 and a further drop from there would lead to the market seeing bitcoin at $8,000.

Bears Still Dominating

As at the time of reporting, bitcoin trades at $10,321, gaining about 2.42% from today’s open. There has also been no sign of the bulls insight. If Josh Rager’s opinion goes as prognosticated, we might be seeing more bearish days ahead.

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