Cryptocurrency

Bitcoin price will reach $15,000 in the year 2020

The CEO of DoubleLine Capital, Jeffrey Gundlach, also recently spoke about his predictions for 2020 and beyond and said that the USD is likely to be weaker and Bitcoin will break the $ 15,000 mark.

The US Dollar will continue to weaken

Jeffrey Gundlach, the so-called bond Guru and CEO and Chief Investment Officer of a $150b investment Fund, DoubleLine Capital, gave recently its forecasts for the short-term future of the U.S. economy. Most of his predictions are based on a single assumption, namely that the US Dollar will weaken in the near future.
Gundlach based this forecast on a number of important factors, including the fact that the Federal Reserve will continue printing money, but also to the fact that foreigners begin to decouple from the United States. As a third important reason for the imminent weakening of the USD, he announced finally, a large budget deficit.
He expects, however, that many excellent investment opportunities.

His thoughts on Investing

As many of you know perhaps, was 2019, a good year for investments in various asset classes. The price of gold rose last year by 19%, while the S&P 500 generated a return of 29%. Then there were stocks from the emerging countries, which rose last year by 15%, not to mention the Oil prices, which rose by up to 34%. The list goes on and while many are expecting that to be expected in the year 2020, Similar is alleged experts, that the probability of this occurring is rather low.
Not so Jeffrey Gundlach. In fact, he believes that this will be a very rare opportunity. For the first Time this 1929 took place, and then again in the 1960s. Now he believes that it will happen again, maybe not in 2020, but certainly in the near future, since the raw materials seem to be strongly undervalued.
Well, Gundlach is very good to interpret the economy and make predictions and to make recommendations. He sees the problems in the current market and his insights have helped many to meet in the past, good decisions. In his opinion the Federal Reserve is pumping money into the market and the Dollar to weaken-
But he believes that this is a great opportunity for investment in raw materials, which will also be long-term advice.

What is a Bitcoin?

Finally, another big issue for the future of Bitcoin. The crypto market has attracted in recent years a lot of attention. Bitcoin makes for several years of almost daily headlines. By the end of 2017 BTC reached $ 20,000 per Coin. In the year 2018, this fell to 3,200 dollars, and in 2019, Bitcoin returned to almost 14,000 $ before it fell to $ 7,000 and the year it ended.
In 2020 Bitcoin is already seeing a major price recovery, currently BTC is about 8.680 dollars and that is still only a fraction compared to what could be expected by the investors in the next six months. With the halving of Bitcoin in may, many believe that the price will rise by the end of June 2020 over $12,500.
What relates to Gundlach, he recommended the investors to buy in 2019, the Bitcoin, and his advice was right. Anyone who has listened to him, saw a rise in the BTC price to 95 percent. In the year 2020, it is expected that the popular crypto-currency is set to rise to up to 15,000 dollars, which is still more optimistic than the, what seem to be the traders of Bitcoin-to-believe options.
This would not only mean that money is in Bitcoin, but also that investors can use it as a safe haven, to suffer no losses if the USD weakens really as strong as Gundlach expected it to be.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.