Leaning on others for financial advice is never a smart idea. This is especially true where the bitcoin price is concerned, as this market is far too unpredictable.
Bob Loukas, a trader of bitcoin, gold, and stocks, has shared his 2020 outlook on Twitter.
Bob Loukas is Bullish on Bitcoin
It appears that this individual expects a bullish narrative for the world’s leading cryptocurrency.
However, Bob Loukas also hints at how more accumulation will occur for some part of 2020.
That is never a bad outlook, primarily because accumulation after an uptrend can lead to a continuation of the upward momentum.
Other predictions by Loukas include not betting against stocks, and a potential test of all-time highs for precious metals.
All of this advice can be interpreted in many different ways.
Bitcoin and gold are often on very similar trends on their price chart.
If gold is to test a new all-time high, the same could apply to bitcoin as well.
A lot of that momentum will hinge on how long the accumulation stage lasts.
For now, there are still plenty of possible scenarios on the table for all of these markets.
Anything and everything can happen, either for better or worse.
Virtually all of these assets Bob Loukas touches upon rely on many external factors.
No one knows how those factors will pan out as the year progresses.