Bitcoin Price Has 7% Chance to Hit $20K by End of 2019, Data Claims


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Bitcoin (BTC) price is only 7% likely to hit its previous all-time high of $20,000 before 2020, according to market forecasts.

The latest data appearing on social media courtesy of the Twitter analyst known as Skew, highlighted the odds for investors betting on the future Bitcoin price had been slowly decreasing throughout 2019. 

According to the data, which came via derivatives platforms LedgerX and Deribit, those chances of a return to $20,000 before the end of the year were 93% unlikely as of Aug. 27. 

No expectation of Bitcoin price miracle in 2019

In comments, Skew noted October’s deadline for United States regulator the Securities and Exchange Commission (SEC) to approve two Bitcoin exchange-traded funds (ETFs) should produce a watershed moment for markets.

“October should be the most interesting month for bitcoin with two ETF applications under review by the SEC,” it wrote.

All eyes on October?

According to LedgerX’s Oracle, meanwhile, as of press time, the chances of BTC/USD hitting $15,000 by Dec. 28 are currently much higher at 31%. 

The higher numbers coincide with bullish tones coming from some of Bitcoin’s best-known figures, including author and angel investor Muard Mahmudov, who on Tuesday claimed Bitcoin had found its new floor at $10,000.

“~10K is the new ~6K», but instead of breaking down it will hold and start grinding UP,” he opined on Twitter.

Others were eyeing closer timeframes, such as the end of August, the settlement date for the latest round of Bitcoin futures contracts.