3 Reasons Bitcoin Price May Hit $20,000 by Year-End

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Days after a depressing flash crash, Bitcoin had a mind-bending rally, snapping up a 42% gain. BTC moved up from $7,500, briefly touching $10,000. Then the leading coin settled around $9,500, but in just a few short days, the market sentiment was repaired. The path seems open for bitcoin to stage an end-of-year rally, with $20,000 shaping up as a realistic price target. This could happen due to several favorable conditions. Growing Bitcoin Dominance: The current dominance of BTC is 68%, down from a recent peak above 71%. Bitcoin certainly dominates over the multitude of smaller altcoin projects and meets competition only from a handful of leading coins with sufficient liquidity. But BTC also offers a higher potential for growth in comparison to altcoins and has established itself as one of the price leaders. The expectation is for Bitcoin to rise to a dominance of above 90%, its long-term stance…

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