While bitcoin prices touched all-time 2020 highs on Tuesday, a few analysts say they are expecting only a few more hurdles to surpass the 2017 all-time high (ATH). For instance, the market analyst from Etoro, David Derhy, says to look to $20,000 instead of back at $12,000. A few traders and popular cryptocurrency analysts think that bitcoin (BTC) simply needs to cross the $14k region and its lift-off from there. Tuesday\u2019s 2020 ATH of $13,684 is just shy of last year\u2019s ATH at $13,796 per bitcoin which was accomplished on June 26, 2019. Macro strategist Raoul Pal said on Tuesday that there are only two major BTC price resistances left. \u201cThere are literally only two resistances left on the bitcoin chart \u2013 $14,000 and then the old all-time high at $20,000,\u201d Raoul Pal tweeted on Tuesday. \u201cI fully expect new all-time highs by early next year at the latest.\u201d Senior market analyst for Etoro, Simon Peters, explained this week in an investor\u2019s note that \u201cstimulus fears could stoke the fire for bitcoin. \u201cWe may also see an uptick of inflation, another important aspect of Satoshi Nakamoto\u2019s view of modern economies that drove him\/her\/them to create Bitcoin,\u201d Peters wrote. \u201cIt will also be interesting to see how this impacts the correlation between bitcoin and equity markets.\u201d #BTC HTF targets pic.twitter.com\/RgZLoDwfRJ \u2014 \/\/Bitcoin \ud835\udd75ack \ud83d\udc10 (@BTC_JackSparrow) October 27, 2020 https:\/\/platform.twitter.com\/widgets.js \u201cOkex futures order book asks being pulled\/executed at market in the last few days as BTC consolidates,\u201d the popular crypto analyst dubbed \u2018Light\u2019 told his 25,000 Twitter followers on Tuesday. \u201cA move above $14k in the near term is increasing in probability,\u201d Light added. In the same investors note, market analyst from Etoro, David Derhy, detailed that people should \u201clook to $20,000 instead of back at $12,000.\u201d \u201cThe current run could simply push through all the way to $14,000,\u201d Derhy wrote this week. \u201cIf that is the case, then the next level from a technical and fundamental perspective would be $20,000. With the U.S. election coming up next month, further economic stimulus from the government is going to happen even if the size of that stimulus is still up for discussion. I am of the view that we won\u2019t see a drop back down below $12,000 for a while yet.\u201d Just recently, the \u2018Oracle\u2019 Vinny Lingham said similar statements and doesn\u2019t expect the price to drop below $12k during the next 30 days. Meanwhile, bitcoin\u2019s (BTC) hashrate has seen a 45% slump during the last three days. What do you think about the price pushing past the $14k zone and do you think $20k is coming next? Let us know what you think in the comments section below. The post If Bitcoin Passes $14K, Analysts Say Traders \u2018Should Look to $20,000\u2019 Instead of Looking Back appeared first on Bitcoin News.