With Bitcoin halving 2020, it is certain that we will see crypto price fluctuate. Due to the fact that there is lot of market sentiment and reaction involved, some of the best cryptocurrency performers like Bitcoin, Ethereum and XRP etc. are all bracing for the upcoming changes in prices.
Looking back at the history, we all know what Bitcoin Halving brought to the market around 2012. This was the time when first bitcoin halving occurred and a year later, price of bitcoin surged to 1000. A direct 1000 percent increase in the market value.
So what does that mean for 2020? Well, this means that 2020 crypto prices are certain to fluctuate based on the market sentiment. And by that, we mean that market can react in any given way to this situation and its quite unpredictable just by looking at the market reaction.
Lets look at the some of the top cryptocurrency in 2020 and their analysis based on the current market standpoint.
While Bitcoin remains an uptrend and has surged 2.55 %, the talking point about market sentiment has to do with buying and breakouts. It seems that the $10,000 resistance is seemingly difficult and that the price has take U turn from that resistance level couple of times already. This psychological resistance will likely have a breakout soon due to the fact that this psychological test marks its fourth time.
One of the distributed ledger with decentralized computing platform which has smart contract capabilities. With current development effort also on going, ETH 2.0 is right around the corner with full redesigning and modeling. It is anticipated that the both versions of ETH will exist while this huge transition and migration takes place. In the next few months, based on newly developed pivots and EMA’s, ETH could see a target up to $300. Currently it is right above $200 target as anticipated few months back.