Bitcoin has been facing a rocky trend in the later part of 2019. Bitcoin does not usually go where the path leads; instead, it reaches out to areas where there is no path, and it leaves a trail. Bitcoin is manifestly the first of the blockchain potential to sustain a cryptocurrency. Probably, the token served a political intent, where all have equal access in an uncensored network.
Bitcoin Warming Up for Performance in 2020
Craig Wright, the self-proclaimed Satoshi Nakamoto, stated in the past year that there was a “fatal flaw in Bitcoin, which is to destroy it, adding that there won’t be any BTC by the end of next year.”
He also proclaimed, “A true value of BTC at the market will be between 0.10 and 0.20 USD.” That was an outrageous prediction; however, Bitcoin did not hit that low down the corner, and it has survived past 2020.
Despite all the trials, Square Crypto stated, “This decade was bitcoin just warming up.”
Bitcoin price continues to trend in the channel pattern. The giant trendsetter touched $14,000 in June; however, it lost 50% of its value since then. The token probably can stage a high volume breakout in 2020. If it happens, further gains are likely.
Psychological Support Level for Bitcoin Is At $6,000
The crucial psychological support level for Bitcoin is at $6,000. Investors need to continue watching on how Bitcoin is acting within its channel.
“Dr. Doom” Roubini was not a fan of Bitcoin. He has forever been raising his voice and ranting against Bitcoin.
Harmony published on December 31, 2019, “Watch famed Bitcoin skeptic @Nouriel take on Taylor Swift as he predicts more ‘trouble’ for the blockchain industry!” The economist is not yet giving up on his view of the probable use of Bitcoin for criminal activity or its lack of stabilization and inactivity.
Of note, Roubini has not invested in any digital asset, and he no longer has access to the coins he mined shortly after the creation of the Bitcoin more than a decade ago.
“But the reality of it, I’m not going to make a penny.
Because I don’t hold any coins.
Not Bitcoin, Ethereum, or XRP.”
At the time of reporting the news, Bitcoin has been trading at $7,199. Professor Milton Friedman, a Nobel Prize winner in economics, previously stated, “I think the internet is going to be one of the major forces for reducing the role of government. The one thing that’s missing but that will soon be developed is a reliable e-cash.”