Bitcoin Price Prediction: BTC Value in 2020
Bitcoin Price Prediction: BTC Value in 2020. Today, everyone in the crypto community may be wondering what the future of Bitcoin is for investors in 2020 and beyond. The crypto exchange market is known for its very volatile price from very high prices to very low prices in a short period of time.
Although this situation is very beneficial for traders who use the method of buying and selling a low investment, it also makes digital assets such as Bitcoin a bad medium for storing values. In addition to this situation also makes it difficult for long-term investors because they must constantly check the changes in value to ensure the security of their investment status. If prices change sporadically, checking values will be quite difficult.
Although this changing nature makes the future of the crypto exchange difficult to predict, it doesn't stop players from guessing the future of digital assets, especially the price of Bitcoin. Although almost all predictions are rooted in mere speculation in the world of crypto, some of them come from fairly complex quantitative prediction methods. From research and modeling to making specific benchmarks, experts are working hard to prove that Bitcoin will survive. Bitcoin price predictions for 2020 are very broad, between $ 20,000 to $ 1 million US dollars.
Early investors who bought crypto assets when the value was very cheap managed to become a billionaire when the value rose sharply to thousands of US dollars. Nearly all of the billionaires appeared on December 2017 where the price of Bitcoin broke its record high of $ 20,000. Since then, the price of Bitcoin has decreased and made the market worse than expected.
Another factor that makes the future of Bitcoin difficult to predict is the fact that its use has not increased significantly in 2018, which indicates market stagnation. In fact, mass adoption did not happen as fast as the crypto industry players expected.
Apart from the current rate of adoption, there are several other factors that can be considered in analyzing the value of cryptocurrencies and the price of Bitcoin in the future. Some of them are:
- Technological advances and network modifications such as hard forks and software updates
- Clarity of purpose and roadmap of a platform
- Announcement of new partnerships or certain sponsorship partnerships
- New patents and inventions by crypto research and development firms
- A new exchange listing
- New regulations/regulations related to the crypto world
It is very important to re-study the factors above rather than following the predictions outright. Investors must also study the predictions that exist, see the specific reasons behind the predictions presented.
Some predictions of the price of Bitcoin in 2020 by Trusted Industry Figures
He is the creator of the popular antivirus software, McAfee antivirus and is a well-known figure in the crypto industry because of his unique predictions with attractive backgrounds. He recently predicted that Bitcoin would reach $ 1 million. According to him, his prediction is based on the model he made himself. With this model, he once predicted that Bitcoin would reach $ 5,000 in 2017.
Thomas Lee, co-founder and head of research at Fundstrat Global Advisors, a leading crypto research company, predicts that the price of Bitcoin will reach $ 15,000 by the end of this year
Bitcoinist analyst Osato Avan-Nomayo predicts that Bitcoin mining rewards will experience halving from 12.5 BTC to 6.25 BTC in 2020. Although he does not predict BTC specific prices, their analysis predicts new prices could reach $ 20,000 US dollars.
Brave New Coin CEO Fran Strajnar has predicted that the price of Bitcoin will reach $ 200,000 in 2020 with the increasing rate of adoption of Blockchain technology and the use of Bitcoin. According to him, with more and more users joining the network, more and more wallets and applications will be created and used. With increasing usage, BTC prices will also increase in the long run.