As the Bitcoin halving is coming, the whole cryptocurrency industry is getting pumped up with enthusiasm. The big question for the crypto community remains. What might the current year hold for the market and investors? The following predictions for the BTC price in 2020 may offer some insight.
John McAfee, security pioneer, and cryptocurrency enthusiast
John McAfee tweeted that the Bitcoin price will reach $1 million by the end of 2020.
While many thoughts he was kidding, let’s check out his comment from his interview with Forbes. He believes that BTC will soar due to the scarcity of this digital asset:
“Let’s get real, there are only 21 million bitcoins. Seven million of which have been lost forever, and then, if Satoshi [Bitcoin’s mysterious creator] is dead, add a few more million.”
Max Keiser, a former Wall Street trader
He noticed that his old prediction of $100,000 was now too conservative, and he rose his price target for the first time since 2012:
“I am officially raising my target for Bitcoin, and I first made this prediction when it was $1, I said this could go to $100,000. I’m raising my official target for the first time in eight years; I’m raising it to $400,000.”
Tom Lee, the co-founder of the research firm Fundstrat
In his last interview with CNBC, Tom Lee made his new prediction and stated that the price of the BTC would reach $40,000. He noticed that a bull run would be driven by three factors: Bitcoin halving, geopolitical tension caused by the coronavirus, and the U.S. presidential election.
Tom Lee believes that BTC halving will deliver 100% returns to its investors, and Bitcoin has a great chance to reach $27,000 by summer, 2020.
Tim Draper, venture capitalist, and Bitcoin evangelist
While Draper has already made a fortune from his Bitcoin investments, he doesn’t believe the world’s largest cryptocurrency is stopping any time soon. In December, 2019 Tim Draper said BTC will rocket all the way to $250,000 6-12 months after the Bitcoin Halving in May:
“If you run a technical analysis, it looks like it’ll be something like six months to a year after the halving that we will cross $250,000 per Bitcoin.”
SwissRex AG, a crypto consulting company
Not so long ago, SwissRex AG published a report. The organization forecasts a bullish trend with BTC price at $25,000 by the end of 2020.
As you may have noticed, opinions vary widely on an exact Bitcoin price prediction for 2020. Although there is a consensus that there is likely to be new all-time highs during 2020.
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