Volatility Analyst Makes $20,000 BTC Price Tag Prediction


Although Bitcoin has been trading with intense volatility over the past few weeks, it appears to be flat on a macro scale. The benchmark cryptocurrency has been trading within the same $3,000 range for the past five months. This has caused its macro volatility indicators to fall to record lows.

A well-known volatility analyst, Mohit Sorout, has purported that a breakout is just around the corner and that it will be an explosive one. Sorout believes that this breakout could send Bitcoin to the $20,000 price mark over three months if the breakout occurs to the upside. Mohit Sorout is a founding partner of Bitazu Capital and a crypto fund manager.

According to the analyst, Bitcoin has hit a low level that is rarely seen in Bitcoin’s history, with events like this occurring only once a year.

Although this indicator doesn’t necessarily indicate a bullish or bearish price dynamic, it is very likely to swing in favor of bulls given its historical reaction to low volatility. That said, he stated that investors should expect a new YTD high.

In other news, BTC remains unfazed following last week’s OKEx saga. Although the price witnessed a mild sell-off at the break of the news, bulls were quick to swoop in and prevent any further losses below $11,300.

BTCUSD – 4-Hour Chart

Key BTC Levels to Monitor in the Near-Term

Bitcoin continues to trade within the $11,600 – $11,284 consolidation range, after a very uneventful weekend. On our 4-hour chart, BTC is trading with the 50-day SMA towards the upside. That said, the major hurdle to scale remains the $11,600 range top, followed by the $11,800 resistance and the $12,000 psychological level.

On the flip side, a break below $11,000 could strengthen bears once more.

Total market capital: $359 billion

Bitcoin market capital: $211 billion

Bitcoin dominance: 58.7 %

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.