Cryptocurrency

Bitcoin exchange rate in 2020 to over 20,000 USD?

Bitcoin investors have one thing in Common: they are all bullish. Although the expectations are different here, but there are still all agreed – the Bitcoin exchange rate will eventually explode. The reasons for a strong Bitcoin price surge are of different nature. Shortly before the BTC Halving many, of course, expect the approaching half-to lead the inflation rate to a supply shock and the price of Bitcoin in the amount to shoot. The Halving only works as hoped, when the necessary demand is given. The Chief Commercial Officer of BitPay Sonny Singh, has now thrown his hat in the Ring and a Bitcoin price forecast for 2020 is knocked out. He explains the reason he sees a massive increase in 2020.

Bitcoin 2020 to over 20,000 USD?

In an Interview with Taylor Riggs from Bloomberg, which took place on Wednesday, gave Singh his Bitcoin forecast for 2020:

This year I’m going to make a prediction. I think, Bitcoin is exceeding the all-time high and this year more than 20,000 USD.

Singh also said in the Interview that he has already given at the beginning of the year 2019, a Bitcoin prognosis of. At that time, the Bitcoin price was about 3,500 USD. At that time, he has said that the BTC price will quadruple and 15,000 USD is on the rise. Although his prediction has not quite arrived, but he was at the end. The Bitcoin is temporarily increased in June to almost $ 14,000. This has probably strengthened Singh in its ability to predict the future and to be motivated to a new Bitcoin forecast.

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BTC will not be affected by the Halving of the 20,000 USD to break through

As already mentioned, Most in the Bitcoin Halving the bringer of salvation. Singh is not announced but even Halving the price drivers for the year 2020. For him, the main price would be the trigger for a BTC Pump this year Konflinkt a series of “unforeseen” events, such as the ongoing between the US and Iran. Singh said:

Many people think, it will be because of the halving… but I think this is already taken into account. Bitcoin goes up (instead), when the unforeseen things happen.

According to Singh, the unforeseen event of last year was the announcement of Libra through Facebook, because “no one saw this coming and did the (Bitcoin) really fast to the top brought”. Global political and economic problems for years investors to bring their money into “safety”. The can be significantly in the price of Gold to detect. In this article, you will find the connection between the Gold and Bitcoin rise in the last days.

2020 offers a lot of room for the King of Coin

While Bitcoin has certainly not still for a long time the Status and the trust of Gold, but it moves exactly in this direction. It is the first Asset, which is completely unbound from the traditional financial market. In addition, Bitcoin is by the limit of 21 million BTC and the regular halving of the inflation rate is unique, and therefore offers the perfect conditions for a store of Value (Store of Value).
If Bitcoin really should be 20,000 USD to break through, there would be no increase in the Bitcoin price only from the present time to approximately 200%, but also the interest of the media draw, and thus, new investors in the market rinse. As soon as the old ATH was sustainable, cracked, brings the Faith in Bitcoin back to life. However, one should not rely on the Bitcoin projections of any persons. We have already shown in our last article, most of the forecasts for the year 2019 is wrong.

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Therefore, we should cling to at this point to any specific Figures. The future can’t say no in advance. However, the basic building blocks are laid and Bitcoin gets from day to day, more and more attention. 2020 will be an exciting year with predictable and unpredictable events affect the Bitcoin exchange rate in any Form will surely.

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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.

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