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.
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.