Over the past few years, Bitcoin has skyrocketed in popularity – it needs no introduction. Those who stepped into the crypto world early and invested in Bitcoin made sizeable profits. If you have already invested in Bitcoin, undoubtedly you wonder where the price will be in the next year or two. Moreover, if you’re curious about cryptocurrency and Bitcoin in general, you want to know if it’s a good, safe investment for the long-term, and what will be it’s forecasted price. In this article, industry experts weigh in on price predictions for Bitcoin in 2020 and shed some light on what to expect.
Bitcoin Will Continue On An Upward Trend
“The reality is that “we don’t know what we don’t know.” Anything could happen between now and the end of the year that could impact the price of the coin. Right now, Bitcoin is extremely speculative; the price is set by the market, with the classic laws of demand and supply driving its value.
Bitcoin recently swung back moving in an upward trend and we’ve seen multiple theories for why this happened. Irrespective, the market is happy for the bounce, after a very long bear winter and it’s time for some heat! The reality is, Bitcoin and crypto – they’re not going away. So, what we can confidently say is that Bitcoin will still be in play at the end of the year, and for many many years to come.”
Jude Regev, Chairman & CEO,Element Zero Network
One Million By 2020
“I am on the BTC at one million dollars by 2020 train. As we continue to see increased use cases and companies utilizing blockchain with the decrease in BTC supply, the timing looks to put John McAfee’s bet in the clear. Increased blockchain use cases benefit bitcoin by allowing investors to hedge the volatile bitcoin price with more traditional high performing assets. For example, available equity in the high performing commercial real estate industry is almost $14 trillion. Tokenizing this equity increases the market cap for blockchain overall and drives BTC’s dominance to one million by 2020.”
Kyle White, Chief Marketing Officer, Jointer.io
Bitcoin Will Be Over $20,000
“My Bitcoin price prediction for 2020 is $23,000. Although we are still very much in the infancy of this type of currency, the technology behind it is rapidly growing, and so will the value of the currency. Here are some of the things that will cause the price increase:
Mobile wallet usage will increase as smartphone purchases continue to rise, opening the potential for a fully compatible crypto and credit card mobile wallet to be introduced by the end of 2019.
Cryptocurrency payment technology continues to advance, with merchants from a wide variety of industries now offering cryptocurrency payments in both online and retail settings.
Blockchain is also becoming more commonly used for everyday transactions, including home and car titles, legal contracts, government contracts, retail inventory and more.
The future is technology and Bitcoin is the currency of that technology.”
Eric Brown, Founder, and CEO, Aliant Payments
The $3,000 to $10,000 Range
“Bitcoin will trade in a range between $3,000 to $10,000 gradually stair-stepping up for 2019. The Bitcoin halving is getting closer and this time in the last bear cycle is where the stair stepping up started to happen.”
Brian Harrington, Bitcoin Miner, and Investor, minebitcoinsats.com
$50,000 in 2020
“Bitcoin can get up to $50,000 in 2020. This of course if a chance, as no one can know for sure where Bitcoin will be in the next year. While most predictions are based on Bitcoin’s high demand, investors should be focusing on the supply. Bitcoin’s supply is likely to slow down drastically as it approaches its supply cap. Because of this, be on the lookout for prices going up. The higher that Bitcoin’s rate is, the more profitable it will become for miners. However, this can also make it more difficult to mine and if the rate is higher than the price at which miners can sell their coins then it will be unprofitable and miners will begin to drop out.”
Susanna Williams, Consultant, Pelicoin
Bitcoin Will Continue Rising
“Cryptocurrencies such as Bitcoin have captured the public’s imagination and investors’ fancy as a new pathway to wealth. Bitcoins traded as high as $4,000 in the last week of August, but as recently as 2010 you could have purchased a Bitcoin for a few pennies.
Part of Bitcoin’s mystique is its high technology, high security, and the massive computing power required to mine (or create) another Bitcoin. We might think of Bitcoin as a type of artificial currency, an imaginary currency, or even a counterfeit currency, but, of course, it goes by the moniker “cryptocurrency.”
The brilliance of Bitcoin is actually the block-chain technology that underlies the currency. It is among the most secure online technologies available; it is virtually impossible to hack, manipulate, or thwart. In addition to artificial currencies, block-chain technology offers great promise as an extremely secure system for online interchanges and transactions. The technology that underlies Bitcoin and other cryptocurrencies is part of the allure, the rationale, and the story.”
Jerry Thomas, President, Decision Analyst Inc.
There Is No Way To Stop The Progression Of Bitcoin
“Bitcoin is volatile like any other financial or derivative financial instrument, but it is still not without all those shortcomings in limiting productivity. Therefore, it is already finding use as an alternative to saving money in those countries where the national currency is more volatile than BTC, or as a means of transferring value when it comes to large cross-border transactions. There is no way to stop the progression of bitcoin and its advancement in all monetary qualities.”
Alexey Ermakov, CEO and Founder of Aximetria
A Price Of $100,000 In 2020
“I tend to agree that PlanB’s Stock-to-Flow model provides one of the most reliable prediction mechanisms for the price of Bitcoin in 2020 and onwards. Not only does this model fit past performance with an accuracy of 99.5%, but a prediction that Bitcoin will set a new all-time high of $100,000 in 2020 coincides perfectly with impending major developments like the potential launch of the Bitwise and
VanEck/SolidX Bitcoin ETFs, and the upcoming launch of Bakkt next month. In my mind, there have been no other models that make more sense, based upon the state of cryptocurrency today, and the enthusiasm that institutional investors now have to move into the market in a serious way. The impact of this will be unparalleled in the short history of digital currencies, and if we don’t reach a Bitcoin price of $100,000 in 2020, I think it will be closer than many people in the industry would expect.”
Joel McLeod, CEO, Stadivm.com
An Average Price Of $6000 In 2020
“The price of Bitcoin will be hit a low of 4000 and an average price of 6000 in 2020 once it becomes common knowledge that a BTC ETF is unlikely to ever to acquire regulatory approval. The Winklevoss ETF and SolidX ETF have been stuck in regulatory purgatory for months now but by 2020 the realization that the SEC will never allow approval of a Bitcoin ETF will cause the price of Bitcoin to drop. The SEC is unlikely to ever allow for a Bitcoin ETF to the reasons already stated by the regulator. Namely, that the underlying Bitcoin price can too easily be manipulated by unsavory third party actors.
The SEC has been lobbied very hard by various financial institutions to allow approval of a Bitcoin ETF but such efforts have so far fallen on deaf ears. The lobbying efforts by these financial institutions will ultimately prove unsuccessful because malicious actors can too easily drive the price of the underlying asset up and down. Until the financial industry can convince the SEC that the price of Bitcoin cannot be so easily manipulated, the SEC will have no choice but to issue a final denial of a Bitcoin ETF. This will have a negative sentiment on the price of Bitcoin.”
David Reischer, Esq., Attorney and CEO, LegalAdvice.com
$90,000 In Maximum Value
“The maximum value Bitcoin could ever reach is about $90k with Gold around $1250/oz. Slow growth in price is possible, but new competition from other crypto technologies on the brink of major upgrades will steal attention away from Bitcoin. The risk of recession is also likely to push the price up in a rush to safety, but unless the USD stability becomes threatened it is not likely to impact Bitcoin for long. Combine this with the fact other global currencies will experience even more weakness, the dollar is still yet the least bad option on the block. Yet, as the central bank will have difficulty finding an inflationary policy that does
not affect the treasury’s ability to borrow, it is possible Gold could jump to $3000 in 2020, which would affect Bitcoin and other cryptocurrencies, causing the price of Bitcoin in USD to peak at $14000 during the dollar’s decline, only to recover before the end of the year.”
JD Bertron, Owner, Business Resilience Insights
$25,000 By May 2020
“Bitcoin can perform fantastically in the coming year due to few conditions which are very favorable for the decentralized currency. 1. The entire Global economic condition is unstable and there have been few trade wars between countries like USA China Venezuela Iran and the Middle East due to this that has been instability in the prices of commodities like crude oil, etc which directly impacts economic conditions. In such a scenario Bitcoin is the alternative safe haven to invest your money as the economic conditions does not affect the performance for the consensus of Bitcoin as it is decentralized in nature. 2. There will be a block reward halving which is scheduled to take place somewhere in May 2020. As per our understanding from the last one decade of Bitcoin performance, the prices of Bitcoin goes upward before every block having hence that’s the only reason why we are seeing so much volume and Movement in Bitcoin since the last two or three months. 3. The crypto winter has ended. After a long sluggish period, there is a major revival due as the cycle repeats every 2 years on an average. Looking at today’s market cap of Bitcoin which is right now around 200 billion dollars and is expected to go three times to 600 billion dollars in the coming few months due to the economic instability and the block having. The price should go at least three times from what it is now. I.e.approx 25-30k USD Another reason is that in the coming few months the regulators will come out with better regulations and Bitcoin will be much more recognized globally. Currently, Bitcoin maintains its market dominance over 60% of the entire cryptocurrency market cap and I expect the Bitcoin price to cross $25000 by May 2020. We are already in an up Trend not exactly a bull run, but the Bull run can happen anytime between November 2019 to March 2020 so I insist that you must invest at least 5% of your liquid wealth into Bitcoin because that’s the same time I also see and economic collapse globally.”
Sidharth Sogani, Founder and CEO, CREBACO Global Inc
$30,000 And $50,000 In 2020
My prediction is that we’ll see the Bitcoin price reach between $30,000 and $50,000 in 2020.
Bitcoin has had a very strong year of growth so far and we’re only in mid-August! After beginning January at around the $3,000 mark, Bitcoin built great momentum over the following months to reach highs above $13,000 in June. Coupling this huge 300% increase with developments to both the industry and network, it’s definitely within the realm of possibility that the price will push past the all-time high of $20,000 in late 2017.
It’s also clear from what we’re seeing at CoinCorner that the price is making progress in a similar way to the movements of late 2016 and early 2017 which led to the infamous bull run. With Bitcoin in a far superior position now than it was back then, in terms of global awareness and consumer interest especially, I have great confidence that we’ll see bigger price jumps than ever before.
Whatever we witness happening with the price in 2020, Bitcoin is continuing to grow and become more widely adopted by people looking to use an alternative to traditional fiat currencies. In only 10 years’ it’s become a popular store of wealth, medium of exchange and remittance service, and I believe that in 2020 there will be even more progress.”
Danny Scott, CEO and Co-Founder, CoinCorner
Since its creation in early 2009, Bitcoin has skyrocketed in value, making its investors’ substantial profits. The price of Bitcoin has gone from a cent, hurtling past almost $20,000+ per Bitcoin. Of course, the question that remains is whether there is any limit to its growth. Although no one possesses a crystal ball, based on these expert predictions, Bitcoin will increase exponentially in growth.