Bitcoin has been hitting out of the ballpark for quite some time. After analyzing the current trend, Mohit Sprout, a founder of Bitazu Capital, explained that the price could reach $20,000 in the next three months.
If we take a look at the market statistics, since June, Bitcoin’s price stayed between $10,200 and $11,800 for a long time. According to market analysts, when this happens, a price surge is likely to happen. Of course, one could not accurately predict the future. But, this had happened before, so experts are hopeful that it would happen again too. Sorout claimed this event after examining the market’s volatility and the sudden surge in it. Another factor that can affect is the decline in open interest, especially after BitMEX, was charged by the US Commodities and Futures Trading Commission. Grayscale CEO Barry Dilbert also agrees.
Square and MicroStrategy, these two companies, consider Bitcoin as a potential investment option, and they have acquired a substantial amount of this currency. This can also contribute to the rise of Bitcoin’s price. We would have to wait patiently for it to happen.