Bitcoin Price Predictions 2020 is the predictions on bitcoin price value. The first cryptocurrency in the crypto world, Bitcoin was invented in early 2009. Since then, we have seen its price increase from Bitcoins to the center (around 2010 March), all the way up to $19,000+ per Bitcoin (this report up to December 2017). But after a few days, the Bitcoin price was suddenly dropping below $14,000. In 2019, the Bitcoin price has dropped up to $3,367.52 in February and has increased up to $12,575.90 in July.
However, the market of cryptocurrency is volatile and nobody can predict the future as well. There is always a fear of losing assets. So the value coin can go up or down very quickly with no exact reason behind this.
But, the majority of crypto analysts and experts are very optimistic about the price of Bitcoin in 2020. Well, if you are a Bitcoin Holder, then you have come to the right place!
Let’s have a glance at Bitcoin Price Predictions 2020!
Bitcoin Halving Event
Halving events will continue taking place until the rewards for miners reach 0BTC (Bitcoin). 33rd halving events in every 4 years adds up to 132 years total. The last Bitcoin will mine in the year 2140 for existence. Bitcoin has failed to recapture its previous high before the halving event. In halving event, bitcoin tends to break its previous high and doesn’t form the new peak until 18 months after the event. If the cycle repeats, we will not see bitcoin break $20,000 with a new record high carved out in 2021.
Affects on Bitcoin due to Halving Event
Every four years, Bitcoin executes a ‘halving’ whereby the amount of Bitcoin daily supply will cut in half. Block rewards for miners, which are paid out 50% in bitcoin.
When bitcoin launched, 50 BTC was the block reward. Then cut to 25 BTC in 2012, then 12.5 BTC in 2016.
After each halving event Bitcoin price starts increasing as the supply decreased.
Analysts Bitcoin Price Predictions in 2020
A well-known bitcoin coin bull, Tom Lee is Co-founder and Global Advisor of cryptocurrency research organization, Fundtrust. According to Lee’s forecast, the cryptocurrency will break its all-time high in 2017 by reaching. Recently, he has given his predictions on the basis of the chart analysis that Bitcoin’s price will reach $91,000 by March 2020. Lee and Fundstrat used an average percentage that gained at price after each dip to arrive in the 2020 figure. One important fact about Bitcoin is– this is the only cryptocurrency for which you can do chart analysis easily compared to other cryptocurrencies that do not have enough trading volume or track records like 10 years.
Fran Strajnar is the CEO of Brave New Coin, a cryptocurrency research organization. He believes that Bitcoin’s price will reach new highs of $200,000 by the year 2020. Strajnar wants to give all the time the same reason behind the adoption rate of Bitcoin. He states that enormous people buying Bitcoin then it not only increases the number of users of wallets and apps but also increases the price.
John McAfee is the Founder of McAfee Associates, also a crypto enthusiast and a cybersecurity expert. He comes up with a very optimistic prediction about the Bitcoin. He claimed that it will touch the mark of $102,500 at the end of 2020 as he said, “I am still positive about my $1 mil BTC price by the end of 2020.”
Anthony Pomp, the founder of the firm Morgan Creek gave his prediction that states that the highest level is going to conquer by bitcoin is $100,000 at the end of 2020.
The next Bitcoin price prediction is given by Bitcoin Analyst, Osato Avan-Nomayo which is really interesting for all of you. He has made the prediction on the basis of 2020 and the Bitcoin mining reward will be halved from 12.5 BTC to 6.25 BTC. In 2012 it went from 50 BTC to 25 BTC and then in 2016, it went from 25 BTC to 12.5 BTC. The historical price chart shows that when these two events happened, the price of Bitcoin experienced new heights in a short time.
Although Bitcoinist does not actually give a specific Bitcoin future price for 2020, their analysis predicts that its value will reach new all-time highs in 2020, which will be at least $20,000.
Investment in Bitcoin is ‘Good’ or ‘Bad’
Depend upon the above predictions, nothing is ever guaranteed for the cryptocurrency, because ups and downs are a very common scenario in the crypto world. I am not a financial or investment advisor, but as a researcher one thing, I want to tell that you should take the right decision based on your own research.
However, there are so many cryptocurrencies available in the market which plays a significant role in a future transaction. But, I think Bitcoin will always be the most trusted and stable cryptocurrency all of them.
Do Bitcoins have value? In case my answer is yes, BTC has. I do lots of research on it, so many articles, research work, and news I found. They all have a common assumption about Bitcoin.
Assumptions of Bitcoin
Assumption#1– Bitcoin will derive value both from its use as a medium of exchange which means that it is used as an everyday currency like U.S. dollars and as a store of value.
Assumption#2– The supply of bitcoin will approach 21 million as specified in the current protocol and the current supply of Bitcoin is around 17 million. After releasing bitcoin, it decreases by half roughly every four years. This protocol will be never changed because it requires the concurrence of the computing power engaged in bitcoin mining.
Assumption#3– Bitcoin gains legitimacy, larger-scale investors, and more adoption, its volatility will decrease to the point that volatility is not a concern that would discourage adoption.
Assumption#4– Bitcoin has exhibited characteristics of a bubble with drastic price run-ups and a craze of media attention. We assume that the speculative interest in bitcoin will decline as it achieves adoption.
Assumption#5– Bitcoin will never involve fractional reserve banking and that all means of storing bitcoin will be fully backed by bitcoin.
So, among all the five assumptions, Bitcoin acts more as a store of value.
Note: store value is an asset that maintains its value without depreciating, just like Gold, Silver we keep as an asset in that hope one day the value will increase.
Although Bitcoin has been around 10 years, still, it is a very early stage. So like Japan, if more countries start to regulate, then there is a chance to increase the price by 2020. The installation of the Lighting Network update takes Bitcoin to another level and could make some other blockchain’s irrelevant.
Finally, the investment in Bitcoin is good or bad that depends on your own research and the timing. If the investment was done at the beginning of 2017 and sold at the end of the year, the profit would be 2000%. But if the investment is done in late 2017 and held it up to now, it would be significantly down. Now, if you believe in the ideology of the project, then it is the best time to hold your Bitcoin for the long term as the market is still unstable
I have discussed Bitcoin Price Predictions 2020 in this article, hope you will get an idea from this article. Also, try to give eminent analyst predictions on the Bitcoin Price in 2020 with value.
So, do research very well if you want to be a new Bitcoin Holder. Or else, if you already a bitcoin holder then stay back for a long time as per expert recommendation something is going to happen really good in the crypto market.
Cross your finger and hope for the best!
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Writer, researcher, and analyst on cryptocurrency and blockchain technology at L&P Digitech Pvt. Ltd. Also managing the content with SEO at this current company. Keen interest to know more about new technologies related to the crypto world and blockchain technology. Completed Masters in Computer Application (MCA) and holds Post Graduate Diploma in Instructional Designing with sound knowledge in Articulate3. Out of all, love to travel, listen to music, and to eat also.