Bitcoin's price hovered around the $8,000 mark today after dropping yesterday on the news that yet another tech giant was banning crypto adverts on its platform, but some analysts say it could rocket back up to $20,000 this year.
Having fallen from more than $13,000 at the start of the year, Jordan Hiscott, chief trader at Ayondo Markets, said the "halcyon days" of 2017, when bitcoin climbed nearly 2,000 per cent, "seem long gone".
"In my view, this could be the situation for at least six months," Hiscott said, basing his prediction on the liquidation of the Mt Gox exchange in Japan, and the appointed trustee handling the bankruptcy who has already sold around $400m worth of bitcoin and bitcoin cash.
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