Over the past 12 hours, Bitcoin (BTC) has bounced back, retaking $8,000 in a decisive fashion. With this latest move in mind coupled with fundamental developments, analysts are starting to become rather bullish on the cryptocurrency markets. In fact, one top industry research firm suggested in a piece that the leading cryptocurrency could end 2020 up over 100%. Fundstrat Global Advisors, a top market strategy and sector research company based in New York, recently released its 2020 Crypto Outlook to its clients. While the full report is only available for the company’s clients, Thomas Lee, the firm’s resident crypto bull, released a portion of the report on Twitter. Per that segment, it was revealed that Fundstrat believes that Bitcoin has a “strong probability” of gaining over 100% in 2020 due to a confluence of factors. The firm looked to three primary factors to back their bullish thesis for BTC: We published our 2020 Crypto outlook and made the full report available for our clients. – bottom line: financial markets tend to discount 1-3 months, and maybe 6 months (max). So highest probability is halvening not priced in Cc: https://t.co/YRDQQ7TSzv $BTC #bitcoin #BTFD pic.twitter.com/i6sOIVQoc0 — Thomas Lee (@fundstrat) January 10, 2020 It isn’t only Fundstrat who’s extremely bullish on Bitcoin for 2020 and expects for the cryptocurrency to gain 100% in the next 12 months. Per previous reports from this very outlet, analyst Financial Survivalism, who called Bitcoin’s rally to the $8,000s when the cryptocurrency was in the low-$7,000s, recently remarked that the technicals suggest a strong bull trend is forming. He pointed to the following technicals: With these in mind, he wrote that the cryptocurrency could retest its $20,000 high by July 1st.Related Reading: Why Analysts Think Bitcoin Price On Verge of Crash to $6,000
Why Bitcoin Could Appreciate 100% in 2020
Related Reading: Elon Musk Just Dropped the Bitcoin Bomb On Twitter, Again
Fundstrat Isn’t the Only Bull
Related Reading: XRP’s Epic 12% Rally is Bullish for Ethereum Price; Here’s Why
Featured Image from Shutterstock
-
Cryptocurrencies
-
Exchanges
-
Block explorers
-
PoW и PoS
-
Events
-
Tools
- Long Reads
- Publish Content
-
-