Contents
Key facts:
According to Bob Loukas, in 2020 the price of bitcoin could break its historic maximum.For Chuck Jones, an analyst of Forbes, the price could fall below USD 6.000.A little over a day of close of the year, one of the biggest questions that round in the ecosystem of the cryptocurrencies is what will happen in 2020 with the price of bitcoin. Especially, after that in 2019 the main criptomoneda market to double its value, going from around USD 3.700 to be above the USD to 7,200 at the time of drafting of this note.Some analysts see a 2020 bullish for bitcoin. Such is the case of Bob Loukas, founder of The Financial Tap, who wrote on Twitter, anticipating new price increases in the first two months of the year that is about to begin.In addition, Loukas felt that then would such a solid upward to be closer to the historical maximum at the end of the year. Already in 2021, considers the analyst, it would exceed those numbers.For its part, in a possible scenario bassist, Loukas sees a potential fall by a lapse of about 6 months. After that time, the price would reach a level of around us $ 10,000 to us $ 11,000.
In the absolute bear case, after a 6-month downtrend, expect a counter-trend move towards $10k-$11k before another big downtrend. If you think you will FOMO buy $10k then buy it now instead.— Bob Loukas (@BobLoukas) December 26, 2019
Another analyst with consideration uptrend is Michael Novogratz, founder of the firm Galaxy Digital. Through a brief tweet of predictions, Novogratz predicted that by the end of next year, the price of the criptomoneda pioneer would be above the mark of us $ 12,000.
What happening to the USD 250,000 after the halving?
To Tim Draper, the halving, which will occur approximately in may of next year, it would mark a before and an after for the price of bitcoin. Interviewed by BlockTV, the investor of risk assured that after the reduction to half in the rewards of mining in bitcoin, the price would exceed USD 250,000, which would amount to more than 3,000% increase over the current price.As for the time for bitcoin to reach these figures, Draper considered that this will happen between 6 and 12 months after the halving. That is to say, that could happen in the last stretch of 2020 or in the first half of 2021.So far, in the two halving that have occurred in Bitcoin, there has been rising significant in price, although that does not necessarily guarantee the increase predicted by Draper.
Do again below USD 6.000?
In addition to the considerations bassists of Loukas, the analyst of Forbes, Chuck Jones, sees the possibility of a fall below USD 6,000 in the short term. In a note published on the 23rd of December, Jones considered that the price of a bitcoin must exceed the mark of USD 9,000. Otherwise, he said, “it could easily fall to USD 6,000 and then more low”.In this regard, Jones cites the “cross of death”, a metric that arises when the average price of 50 days falls below the average of 200 days. Specifically, Jones cited as a precedent close to the period between may and December of 2018, when the price fell from us $ 9.500 to be about USD 3,000.The prediction of the analyst of Forbes coincides with the operator of the markets, Tone Vays. For the also a youtuber, 2020 will mark the beginning of a new stage bass player who will drop the price of bitcoin below the $ 6.000. Vays qualified his observation considering that this fall antecederá a new bullish trend, although not established time frames for each moment.
Other comments on the future of bitcoin
The firm specialized in digital asset Vision Hill also foresees a good year for bitcoin and the cryptocurrencies. In fact, through a report, said that the next one will be one of the best for cryptocurrencies.However, Vision Hill stated that its forecast for 2020 is not necessarily linked to a great season bullish for the price of BTC and other cryptocurrencies. What I do see with optimism from the firm’s institutional offering of products associated to the cryptocurrencies, on the basis of a broad interest in the area.Already a retrospective, Bank of America Merryl Lynch (BAML) presented a study in which qualifies bitcoin as the best investment of the decade. According to the calculations of the institution, an investment of $ 1 in BTC 10 years ago would have become at about USD 90,000.This, compared with a return of investment in just over 3 us dollars for every dollar invested in that period in u.s. stocks, shows the value that has gained bitcoin in just 10 years, alleges BAML.