Here’s What Top Crypto Experts Expect Will Happen to Bitcoin (BTC) by 2020
The past month has seen Bitcoin witness its second major monetary slide during 2018 (with the premier alt-asset currently valued at just over USD $4,000). And while many investors and enthusiasts had previously expected the altcoin market to scale to new heights by the end of this year, it seems highly unlikely Bitcoin will even be able to close out 2018 in a strong manner. With that being said, many investors are now looking ahead and hoping that the future of this space starts to look more positive in the coming year or so.
With that in mind, one should understand that when such a massive drop occurs, it usually takes an asset class around 6-12 months to recover fully. As a result of this, many top names from the crypto world are actually expecting 2020 to be the year when BTC finally makes its much awaited comeback.
1. John McAfee:
As many of our readers probably already know, over the course of the last 2-3 years, John McAfee has become one of Bitcoin’s biggest proponents. His storied background as well as technical expertise have made him a force to reckon with. In this regard, it has been reported that McAfee charges around $100,000 for price predictions which funnily enough, many people seem to be willing to shell out.
Just last year, McAfee said that by 2020, the price of Bitcoin would scale up to a mammoth $500,000. Even with the market struggling all through 2018, he has said that he now sees the price of 1 BTC hitting $1 Million by 2020.
Also, worth noting is the fact that the aforementioned estimates are based on a “financial model” which McAfee claims to have devised himself. It is the same model that had previously guessed that BTC would scale up to over $5000 by the end of 2017 (and as we all know, Bitcoin went to nearly 4 times of that value by the end of the year).
At the time McAfee had made the prediction, nobody in the world thought that a digital asset such as Bitcoin go ever shock the world in such a massive way.
2. Tom Lee:
Fundstrat’s Head of Research, Tom Lee, is a controversial figure for many investors since he has repeatedly made a series of outlandish claims regarding the financial potential of Bitcoin in the past. For example, earlier in 2018, he said that the price of Bitcoin would reach a stable price point of $25,000 by the end of the year. Similarly, his later predictions wherein he claimed that BTC would touch $15,000 by the start of December too have not come true.
Over the past couple of years, Lee has appeared on numerous talk shows where he has discussed in detail the future of Bitcoin and other top cryptos. With this in mind, it is worth noting that recently Lee appeared on a TV show where he stated that “based on his computational models, he sees the value of the world’s premier crypto asset hitting $91,000 by the end of 2020”.
3. Osato Avan Nomayo:
While not a well known name within the global media circle, those who are well-versed with Bitcoin, would have definitely heard the name Osato Avan Nomayo. He is a well-known analyst who is famed for having predicted that Bitcoin mining rewards are all set to drop to around 6.25 BTC by the end of 2020. Now, Osato says that by 2020 the price of the altcoin will stabilize and stay put somewhere above the $20,000 mark.
4. Fran Strajnar:
Fran is the CEO of Brave New Coin and has time and again said that by the end of 2020, Bitcoin could easily reach the $200,000 threshold. He says this number is based on a lot of analytical research as well as other factors (such as the increasing rate of adoption of Bitcoin all over the globe).
In fact, Strajnar went as far as saying that mass interest in BTC and other top altcoins has never been higher since a slew of new wallet solutions, dApps have been devised by independent startups since the start of 2018.