Bitcoin price prediction 2020
Almost every person at least once in his/her life heard about Bitcoin. Those who are out of step just read or hear the news about BTC. On the other side, there are people who nearly every day or even every hour keep a sharp eye on the Bitcoin price and price prediction of BTC. Just as in previous years it is extremely hard to know exactly how BTC price will behave in 2020 taking in consideration BTC halving in May 2020. But we can always follow the analytical services and look at what crypto professionals think and predict for Bitcoin. We analyzed some of the services and would like to share those BTC price predictions with you.
According to TradingBeasts, we have the following Bitcoin price prediction (as of 05/05/2020):
Minimum BTC price for 2020: $6,321.102
Maximum BTC price for 2020: $9,819.601
Average BTC price for 2020: $7,682.370
Mid-year BTC price 2020:
Minimum Bitcoin price expected: $6,647.364
Maximum Bitcoin price expected:$9,775.536
Average Bitcoin price expected: $7,820.428
Year-end Bitcoin price predictions 2020:
Minimum expected: $6,321.102
Maximum expected: $9,295.738
Average expected: $7,436.591
Based on the Bitcoin price prediction 2020 from WalletInvestor (as of 05/05/2020):
Minimum BTC price for 2020: $6,825.21
Maximum BTC price for 2020: $12,326.60
Average BTC price for 2020: $9,588.85
Mid-year BTC price 2020:
Minimum Bitcoin price expected: $6,776.27
Maximum Bitcoin price expected:$12,287.73
Average Bitcoin price expected: $9,541.03
Year-end BTC price predictions 2020:
Minimum expected: $7,661.94
Maximum expected: $13.150,40
Average expected: $10,407.67
We can also have a look at the BTC price prediction 2020 from Digitalcoinprice (as of 05/05/2020):
Average BTC price for 2020: $19,899.21
Average 2020 mid-year BTC price expected: $23,661.44
Average 2020 year-end BTC price expected: $22,915.79
The other BTC price prediction, we want to tell you about, is based on the research of Longforecast (as of 05/05/2020):
Minimum BTC price for 2020: $8,173
Maximum BTC price for 2020: $15,971
Average BTC price for 2020: $24,651
Mid-year BTC price 2020:
Minimum Bitcoin price expected: $12,867
Maximum Bitcoin price expected:$15,971
Average Bitcoin price expected: $14,419
Year-end BTC price predictions 2020:
Minimum expected: $9,921
Maximum expected: $12,700
Average expected: $11,310.50
The algorithm of Crypto-Rating gives its predictions about the BTC price (as of 05/05/2020):
In six months: $11,090.12
By January 1, 2021: $13,972.44
CryptoInfoBase also carried out the analysis of the BTC price prediction and expressed its opinion about it: lately, Bitcoin was stable; its volatility is pretty low nowadays and BTC can be considered as a leader of the crypto market. There is an opinion that is worth noticing that Bitcoin halving plays an important role in BTC rate fluctuations. After each of the previous halvings, the Bitcoin price increased. This mostly happened to prevent the stoppage or disfunction of the network activity. If the price goes up after the halving, it will be attractive to miners who as a result will have a sufficient reward and will not quit the network.
So, according to this, they predict the BTC price goes up to $30,000 in 2020 (as of 06/05/2020).
CoinPriceForecast has the next predictions about Bitcoin price in 2020 (as of 06/05/2020):
According to their forecast, the difference between BTC price at the beginning of the year and its price today is 27%; and the price will have +85% from today to the end of a year.
The middle of 2020: $12,519
The end of 2020: $16,462
There are also different opinions and discussions regarding BTC price prediction for 2020 among crypto experts and analysts:
Some of them glorify Bitcoin and predict its tremendous growth.
There is a price prediction of Bitcoin from John McAfee : “When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $1 million by the end of 2020. I will still eat my d*ck if wrong.”
Others are pessimistic, gloomy and doubtful about Bitcoin success and rise.
Kenneth Rogoff, economist: “But the long history of currency tells us that what the private sector innovates, the state eventually regulates and appropriates — and there is no reason to expect virtual currency to avoid a similar fate.”
“Is the cryptocurrency Bitcoin the biggest bubble in the world today, or a great investment bet on the cutting edge of new-age financial technology? My best guess is that in the long run, the technology will thrive, but that the price of Bitcoin will collapse.”
Peter Brandt, analyst and trader, made this prediction of Bitcoin price in his Twitter: “All along I have stated my belief that there was a 50% chance BTC was going to $100,000 and a 50% chance it would go to $0, or literally zero. Once we broke through 7500 I place my bets on zero.”
While a proportion of people stays neutral.
Tone Vays, Bitcoin specialist and trader in his conversation to ChainTalk: “I can see Bitcoin rising to as high as $8,500–9,000 on this run up over the next month or two, after that I think it will pull back down but I don’t see Bitcoin falling under $5,000 again. If the economy continues to be poor, Bitcoin will probably not go up much because people will just not risk the money they have left on Bitcoin. As for end of 2020, I think Bitcoin will be around $10,000.”
The Bitcoin price depends on various factors like news, expert statements and predictions, media, and many other things. To sum up the predictions we went through in this article, it can be said that generally almost all predictions for 2020 are quite the same, only enthusiasts and skeptics have their divergent views. According to the last year’s results, Bitcoin was the most profitable investment tool. Will it be the same this year?
Remember: This article is only for further consideration and there are no recommendations to invest. You are the only one responsible for making investment decisions.
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Originally published at https://simpleswap.io on May 13, 2020.
