Tue, 04/14/2020 – 14:42
Yuri MolchanNow that 2020 is here, it is time to recall some major BTC price forecasts made for this year and the ones expected to come true after the halving occurs in May
Cover image via stock.adobe.com
The third Bitcoin halving is expected to arrive on May 12. Meanwhile, a few major predictions have been made recently about this particular year or the short-term post-halving period overall.
Twitter user Robert Art, a fan of XRP and Bitcoin, has recalled and shared some of those bullish predictions on his Twitter account.
Bitpay CCO: BTC will go past $20,000 this year
In his interview with Bloomberg in January, Bitpay Chief Commercial Officer Sonny Singh stated that in 2020, Bitcoin is very likely to surpass the all-time high of $20,000 it achieved in December 2017.
Singh believes that despite many people believing that the new price increase will be driven by the approaching halving event in May, the price could rise due to some events that nobody expects to occur.
As an example, he recalled last year’s plans from Facebook to launch Libra currency. Back in 2019, he says, this news drove the BTC price to nearly $13,000 in July.
BayernLB Bank: Bitcoin will hit $90,000 in 2020
As per the research report released by the BayernLB Bank on October 1, 2019, the analysts of the bank expect the flagship cryptocurrency to skyrocket to the $90,000 level this year.
The reason for that, analysts in the bank believe, will be the increase of the BTC stock-to-flow ratio after the halving.
Tim Draper: Bitcoin will hit $250,000 by 2022
The billionaire and investor Tim Draper is a vocal bull who strongly believes that the Bitcoin price will definitely surge to at least $250,000. The investor has several times confirmed his prediction, once even saying that $250,000 would even be a conservative prediction.
In one interview, Draper mentioned that this is what his technical analysts told him. The reason he mentioned for this is that housewives will start using Bitcoin instead of their cards for daily shopping in order to save the commission fees they have to pay for using bank cards.
About the author
Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.