For much of last week, the largest crypto asset was on its recovery course, rising over 3% in USD pairing.
Although, the bulls could not propel it further as it ran out of steam. It experienced a strong rejection which pushed it down to its recent levels. At the time of writing, BTC is exchanging hands at $6,850.
In the last few weeks, crypto-analysts, as well as several crypto-enthusiast, have re-echoed the prediction of Bitcoin attaining and surpassing its All-time high of $20,000 by the year 2021 which is almost 200% increase of its recent price of $6,850.
Mathematically as presented by S2F inventor PlanB, there exists a possibility of the crypto asset reaching the $20k mark.
PlanB model predicts a steady rise in price which will bring the top asset price after the halving event to $50,000 to $100,000.
Chris Burniske of Placeholder Capital sees a bearish stock market as an impediment to Bitcoin retesting its ATH of $20,000. He sees that if the same scenario that played out on March 12th when BTC had a brutal crash in which it tested lows of $3,000 happens again, Bitcoin may test lows in the $5,000s, $4,000s and $3,000s levels which will be followed in tandem with the rest of the cryptomarket.
Image Credit: PlanB Twitter, Shutterstock