Bitcoin’s rebound puts $20,000 level in sight as next big test

Bitcoin’s recovery from a rout last week is stoking speculation that the cryptocurrency can breach $20,000 for the first time.

The digital asset is trading near the all-time high of $19,857.03 set on Monday, after jumping 15% since one of its worst one-day drops this year on November 26.

“We should surpass $20,000 this week, targets being anywhere around $20,000-$25,000,” said Vijay Ayyar, head of business development with crypto exchange Luno in Singapore. But after that he expects a 30% drop since Bitcoin tends to “get everyone bullish and then dump,” he said.