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Bitcoin Drops Below $16K After Impressive Gains

The impressive comeback of bitcoin in the past eight weeks from $9,800 to over $16,000 in the last few hours suffered a temporary setback of $20,000 forecast for 2020

On major crypto trading platform, BTC quickly dropped below $16,000 Saturday morning November 14 to $15,750 (over N6 million in Nigeria) before taking another drive towards $16K.

At the time of this report (17:51 Nigerian Time), it’s trading at 1BTC/$15,960.38, a data on coinmarketcap monitored by InfomediaNG showed.

In June 2020, Crypto Research Report forecast shows that bitcoin could worth $20K, analysts are also expecting that BTC to move into consolidation for a time and make a possible pullback.

The latest value of BTC has boosted the trading portfolio of thousands of investors around the world. Some Nigerian bitcoin holders, for instance, are back to trading since the latest impressive gain.

At the time of publication BTC had a market cap of $295,879,406,281 with 1,669,895 BTC worth $26,652,155,280 in volume, and 18,538,368 BTC in circulation.

Will it surpass $20K before December 2020?

READ ALSO:  Asset Manager Ari Wald Recommends Bitcoin Over Gold

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