Bitcoin

Trenchev keeps in perspective, bitcoin price will be $ 50,000 by 2020 – Breaking News

After the low point of the race in mid-march, started with a bitcoin is hard to take off. Meanwhile, it appears that the stretch out of it, even if it is in the course of the last 24 hours, something is up. It seems that bitcoin is caught in the middle of the 9000 and $ 10,000.

And you can see it in the sentiment in the market. The discussions online seem to be more on core business rather than on price action.

“Skin in the game

However, many of the investors in the cryptosector be optimistic, perhaps this is also because they have ” skin in the game’ feature. Antoni Trenchev, the owner of the computer leendienst Nexo, predicted earlier this year that bitcoin is the $ 50,000 in 2020, it is worth.

He made a prediction in may, it was bitcoin is still in an upward direction. The bitcoin price has tested the $ 10,000 limit, and golfde up and down.

In spite of the recent consolidation, he remains positive on the exchange rate. In a recent interview with Bloomberg’s Joana Ossinger in the BlockDown, a digital crypto-conference, said Trenchev as to why he’s bullish remains. He basseert, his optimism, and in the strict limit of 21 million bitcoins.

The 21 million bitcoins

“You’re the president of the United States of america does not allow to tweet, that is the money stock, is the total number of bitcoin to be more than 21 million people. Bitcoin has the structure in which all principles are for. And that, once made, agreed upon, in the code, unaffected by any human intervention.”

Check out the full interview below.

Trenchev said that the principle of a maximum of 21 million bitcoins by private and institutional investors to the industries it attracts. In addition, he says that the central authorities in the past few months, nearly 8 trillion dollars have been printed, and the gold and the bitcoin, it does need to be done.

Keep the $ 50,000

“So, yeah, I’m sticking with my prediction of $ 50,000 by the end of the year. I know that’s a bold statement, but the fundamentals are there and the momentum is shifting there as well,’ concluded Trenchev.

He’s not the only one to have high expectations of bitcoin in the year. However, the majority of analysts, however, what is more than, Trenchev, especially if it’s going to be in such short periods of time. The international monetary fund came out at the beginning of June, with an in-depth report (PDF) on the crypto-market. Therein, the proposed senior grondstoffenanalist to Mike McGlone that the bitcoin this year is $ 20,000, could be, perhaps, $ 28,000, when the right trends are set to continue.

The analyst says that the current trend of bitcoin are similar to those of the right, after the block halving in 2016. He will also see an increasing correlation between gold and, to a growing adoption vanbBitcoin settings, and a surge in the use of the blockchain. It should, however, be quite wrong, would bitcoin, it is not good to do that, according to McGlone.

About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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