Cryptocurrency

Why an investment company believes that Bitcoin will crack in the year 2020, the $40,000 mark

While the Bitcoin posted a 90 percent increase compared to the previous year, has not developed the Bitcoin in the second half of the year 2019 all too well and has fallen by 50 percent from $14.000 to $6,400, while the majority of Mainstream asset classes such as equities astronomical profits due to the liquidity injections of the Central listed banks.
Nevertheless, a number of prominent investors believe that the crypto currency will rise in 2020. Actually an investment company, which was founded by former Goldman Sachs employees, has emphasized, that Bitcoin will reach in the year 2020, the $40,000 mark.

Bitcoin will reach in the year 2020 to $40,000

In less than six months, Bitcoin will experience a very important event. Known as the “Halving” or “halving” is halved, the number of Block per issued BTC (about every 10 minutes) from 12.5 to 6.25, which effectively means that the inflation rate of BTC will be halved.
According to a Medium Post of The Spartan Group, a Blockchain-Advisory and investment company, the impact of these halving a positive effect on the crypto-currency market. In fact, you said on the 5. January predicting that the price of Bitcoin will reach in the Wake of the halving of probably $ 40,000.

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This comes shortly after the CEO of Nexo, Antoni Trenchev, said in an Interview to Bloomberg that he expects that Bitcoin will eventually set in the year 2020, a new all-time high at around $ 50,000. The Spartan Group is to halve, also called Trenchev as the catalyst that will create such explosive growth.

Bitcoin already waiting in the wings

The popular crypto-currency rose yesterday in an impressive Rally to just under $8,000 in just 24 hours, which marks an increase of about 5%. This is now the third positive daily candlestick in a row. However, some analysts suggest that BTC in the short-term fall first, because the crypto currency is the resistance of a downward channel, which is for 7 months. Bitcoin now requires a strong Momentum to achieve this level by the break and further gains.
Melik Manukyan, a prominent commentator, recently posted the below Twitter Thread that shows that the shortage of the leading crypto-currency should lead to a dramatic price increase in the future.

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The Numbers don’t lie

The Stock-to-Flow model of PlanB, the market capitalization of BTC with the scarcity of the asset in the relationship, showed that the leading crypto-currency will have to halve in the year 2020 there will be a fair market capitalization of $ 1 trillion. This would mean about 55,000 dollars per Bitcoin.

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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