Bitcoin was launched by Satoshi Nakamoto (pseudonymous creator of Bitcoin) in 2009. He would have never thought that Bitcoin will be dominating the crypto space for a number of upcoming decades. On the contrary, blockchain-based Bitcoin facilitates the peer-to-peer- exchange and is gaining popularity at an exponential rate. Bitcoin is a digital currency that follows the decentralized model that excludes the need for intermediary while doing the transaction. Undoubtedly, Bitcoin is fascinating both in terms of operation and lucrative profits. But at this nascent stage, predicting the future of digital currency is a difficult task. Some of the analysts and crypto enthusiasts are still trying to find the responses for Bitcoin future value predictions and putting their point of view on the crypto table. However, the volatile nature of Bitcoin and the present economic condition has the potential to wipe off the calculations and analysis, and thereby finally behaving in a way that no one has ever imagined. Lets attempt to dig out about the bitcoin future value predictions and investigate about condition of liquidity of Bitcoin.
Analyzing Bitcoin Future Value Predictions
Bitcoin future value or price prediction refers to the performance of Bitcoin in the future on the basis of detailed research and technical analysis. Predictions can be made after considering the historical trends, using the cryptoanalysis tools, and taking the volatile nature of Bitcoin in account. How does cryptocurrency value increase? Before the liquidity of Bitcoin hit globally, the majority of predictions were in favor of the growth of the price of Bitcoin.
- Tom Lee, head of research of FundStrat and ex-Chief Equity Strategist JP Morgan predicted the highest returns after the bitcoin halving event (happens almost every four years, reward price of miner get halved). He believed that BTC has the potential to hit an all-time high of $27,000 by June, 2020.
- Fran Stranjar, CEO of cryptocurrency research firm Brave New Coin who seeks that the price of Bitcoin depends on the market forces of demand and supply. When the demand for the Bitcoin increase, the price is supposed to rise. He employed that the profits associated with BTC is attracting the community at every corner of the world and predicted that BTC price will rise due to increase adoptability.
- John McAfee, one of the renowned crypto enthusiast is famous in crypto space for highly optimistic predictions. As per his latest prediction, he expected Bitcoin to reach $1 million worth of USD by the end of 2020. Again he showed his overoptimism in relation to the future prediction of Bitcoin and advocated that Bitcoin is better than conventional currency and might replace it.
- Anthony Pompliano, one of the personality in the crypto space who is the founder and partner at Morgan Creek Digital (crypto-friendly asset management firm). He is staunch believer of the bright future of the bItcoin and other alternative coins. He predicted that Bitcoin might hit $100,000 till the end of December 2021. That could be an impossible target to achieve as Bitcoin has to rise by 1000% by the end of 2021. Anyways, this prediction might help in attracting more of the investors in crypto space.
By considering the predictions of some of the renowned personalities of crypto space and analyzing the previous trends, we might tend towards the positive future of Bitcoin. The main reasons could be the experience of financial freedom, the security of the network, the anonymity of sellers and buyers, and also the maintenance of transparency. Bitcoins won’t be excluded from the financial system in the coming years but the prediction of value might be a challenge after the global economic slowdown caused by the COVID 19. One of the major questions which need to be responded in present times might be-Will crypto recover 2020? Let us try to have a closer look over the condition predicted for Bitcoin in the near future.
Will Bitcoin Recover 2020? | Predictions Related To Recovery
As per the Washington Post reports, the global economy is in total shock and nearly every asset class like stocks, bonds, gold, oil, and even the crypto space which is not supposed to get affected by the global conditions are in deep crisis. The panic situation was noticed in the crypto markets when billions of funds were taken away by investors in just 24 hours on March 12(resulted in a plunge in BTC prices). Bitcoin was performing outstandingly before the health crisis impacted the worldwide (when it touch almost $10,000 in mid of January, 2020). It would be interesting to look at the future transformation in the prices of Bitcoin and its recovery when the bitcoin halving is about to take place around May 20, 2020.
- Tim Draper, one of the Bitcoin bulls believes that the price of Bitcoin will recover after the halving event and is expected to touch $250,000 by 2022. According to him, the breakthrough feature of decentralization will aid the Bitcoin to come out of the dearth of the crisis.
- Richard Ells, CEO of Electroneum told about the story of an impressive rebound of 80% in the prices of Bitcoin amid the global economic slowdown. He advocated that Bitcoin will certainly flourish due to the high crypto adoption after the event of Bitcoin halving.
- Dan Schatt, CEO of one of the prominent crypto lending firm Cred that liquidity crisis may affect the Bitcoin in the short term but the resilient nature of Bitcoin is there to prevail. He explained that Bitcoin will gain the favor of investors due to its non-inflationary store value unlike the inflation crisis associated with US Dolar or any fiat currency.
- Jeffery Liu, CEO of one of the known crypto processing company XanPool, tried to signify the bullish picture of prices of Bitcoin. According to his analysis, the customer base has certainly decreased but the fact cannot be denied that the fresh investments are also entering into the markets. He is also expecting the Bitcoin Halving to be the positive event by clarifying that demand might stay similar or increase, the price of Bitcoin will certainly rise.
Thus, Bitcoin has been experiencing the fluctuations in prices but still standing strong compare to the assets of traditional financial markets even when the COVID 19 had caused the global crisis. Is cryptocurrency really the future? The global base and interest of investors is increasing gradually towards the Bitcoin. So, it could certainly be advocated that the prices of Bitcoin will recover soon. Without any hesitation but with bitcoin technical analysis, you can aim for your next bitcoin investment and expect the positive Bitcoin future value predictions.