Bitcoin Forecast (BTC/USD) and Longterm Prediction (2020)

In this article we make a Bitcoin price forecast and long-term prediction. We would like to give an assessment of the future price development of BTC/USD. We also look at the long-term charts for Bitcoin, which are the quarterly and yearly chart with a logarithmic scale. The basis of our analysis is the Price Action and Technical Chart Analysis.

The charts used are from TradingView and the prices are from Coinbase .

Bitcoin Forecast: Daily Chart

Last update: August 10, 2020

Bitcoin (BTC/USD) is moving in a strong uptrend and has left major resistance around psychological important 10000 level.

Bitcoin forecast daily chart
Bitcoin forecast: uptrend with more potential (Chart: TradingView)

Resistance: 12000 | 12320
Support: 10500 | 10000

Bitcoin forecast: The daily chart of Bitcoin looks positive and more upside potential is probable. Next price target could be the high of 2019 at 12320. Only a price drop below 10000 could turn the positive chart picture to neutral.

Bitcoin Forecast: Weekly Chart

Last update: August 10, 2020

Bitcoin (BTC/USD) is moving in strong uptrend and has left major resistance around psychological important 10000 level.

Bitcoin price prediction: Weekly chart showing more potential (Chart: TradingView)

Resistance:  12000 | 12320
Support: 10000

Bitcoin forecast: The weekly chart of Bitcoin looks positive and more upside potential is probable. Next price target could be the high of 2019 at 12320. Only a price drop below 10000 could turn the positive chart picture to neutral or negative.

BTC/USD Forecast: Monthly Chart

Last update: August 10, 2020

On the monthly chart BTC/USD is moving in an defined uptrend.

Bitcoin price prediction on weekly chart
Bitcoin forecast: next target August 2019 high? (Chart: TradingView)

Resistance: 12320 | 13868
Support: 10500 | 10000

Bitcoin forecast: The monthly chart of Bitcoin looks positive and more upside potential is probable. Next price target could be the high of 2019 at 12320. Only a price drop below 10000 could turn the positive chart picture to neutral.

BTC/USD Prediction: Quarterly Chart (3-months-chart)

Last update: August 10, 2020

In the 3-month chart shown here, we can see that BTC/USD has passed the important 10000 level and is approaching the 12000 level.

BTC/USD prediction quarterly chart
Bitcoin forecast: showing uptrend with next target 2019 high? (Chart: TradingView)

Resistance:  12320 | 13868
Support: 10522 | 10000

Bitcoin Prediction: This price chart is looking positive and more upside potential is possible. Only a drop below 10000 could turn the positive chart picture to neutral or negative.

BTC/USD price prediction: Yearly Chart (12-month-chart)

Last update: August 10, 2020

In the yearly chart shown here, we can see that BTC/USD has passed the important 10000 level and is approaching the 12000 level.

BTCUSD forecast yearly chart
BTC/USD long-term forecast: (Chart: TradingView)

Long-term resistance:  13868
Long-term support: 10522 | 10000

Long-term Prediction: If we consider the stable and intact upward trend with strong upward momentum since the low of 2012, probability seems to favor a further increase in Bitcoin prices. The next long-term price target could therefore be the 2019 high at $13,868. This positive long-term outlook would become obsolete when bitcoin prices fall below the low of 2018 at $3128.89.

What is the current price of Bitcoin (BTC) ?

You could check the current price of Bitcoin (BTC) here.

About Bitcoin

Bitcoin is the original cryptocurrency released in 2009 as open-source software. It is a digital currency predicated on cryptographically secure transactions, a proof-of-work consensus model, and a decentralized, P2P distributed ledger network. Bitcoin’s distributed ledger is the first blockchain — a shared and distributed timestamped ledger of data blocks connected through a chain of cryptographic hashes — and solved the double spend problem that had plagued previous iterations of digital currencies.

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile. 

*This price prediction is based on the data collected from various sources. This should not be considered as an investing parameter and user should do their own research before investing.

Do you think our predictions are accurate? What are your thoughts on the methods used to reach our conclusions? Let us know in the comments below.

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