Price Analysis Jan 20: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XLM, ADA
Cointelegraph
Published Jan 20, 2020 04:00PM ET
Updated Jan 20, 2020 05:42PM ET
Price Analysis Jan 20: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XLM, ADA
The total market capitalization of the crypto space rallied from about $184 billion on Jan. 3 to a high of $250 billion on Jan. 19. That is a 35% gain within a short span of time. Usually, fast-paced rallies do not last long, hence, for the long-term health of the markets, it is better to have rallies with intermittent corrections.
Bitcoin has been following the Stock-to-Flow model fairly accurately. The model’s creator, an analyst known as PlanB, believes that the price of Bitcoin is likely to average around $8,200 until the halving event in May of this year. Thereafter, the model projects the price to shoot up to about $100,000 within two years. While the target is extremely bullish, only time will tell whether Bitcoin reaches there or not.
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Written By: Cointelegraph
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