The majority of crypto analysts and experts are very optimistic about the price of Bitcoin in 2020. However, the markets of digital assets are very volatile and the predictions may not be 100% true, and there is always a fear of losing assets.
There are a number of factors that will contribute to the upsurge of bitcoin price but the halving is the most important event that will have influencing force on BTC value.
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The BTC halving is going to happen on 17 May 2017 after four years and you already have a clear idea about it. The block rewards will reduce from 12.5 to 6.25 after this incident. It is an important indicator of an upsurge in the next coming year.
It is a consecutive record that value always hiked 10x after every halving. This is because the new generation of bitcoins will reduce to 50% every ten minutes; that will have a lasting effect on the rate.
Jesse Powell, the CEO of Kraken is very optimistic about the price of Bitcoin after halving as his statement revealed his prediction:
When I hear people talking about a bitcoin “correction” I’m thinking $100k, maybe $1m. That’s what’s correct.
Predictions of Analysts
John McAfee, a crypto enthusiast and a cybersecurity expert, is very optimistic; he figured out a positive prediction about the Bitcoin. He claimed that it will touch the mark of $102,500 at the end of 2020 as he said,” I am still positive about my $1 mil BTC price by the end of 2020.”
Naeem Aslam, a prominent crypto analyst claimed that BTC will jump into the range between $60,000 and $100,000 in 2020. According to him:
“In order for us to do that, we need to break two major hurdles. The first one is alltime high, because once we’ve broken that it will no longer be about $30,000 or $35,000, because the market is just going to start pricing it at the next important level, which is $50,000.”
Anthony Pomp, the founder of the firm Morgan gave his prediction that states that the highest level is going to conquer by bitcoin is $100,000 at the end of 2020.