Since its inception in 2009, Bitcoin has skyrocketed in both popularity and price. Those investors who dipped a toe into the world of cryptocurrency early on made sizeable profits. If Bitcoin is already in your portfolio, then you are certainly curious what it will be worth in the next year. In addition, if you are curious about Bitcoin and other cryptocurrencies as alternative investments, you want to know if it’s a safe investment for the long-term, and what the will be the forecasted price. In this article
$30,000 in 2020
“I believe bitcoin will hit $30,000 in 2020, driven in part by further expansion of crypto-related financial instruments like the new bakkt futures. Which settle contracts in physical bitcoin and will further drive demand for the cryptocurrency. Additional, the bitcoin halving that will occur on May 20, 2020, will have a positive price Impact, as they have the previous times Bitcoin experienced a halving.”
Henry Stanley, CEO, ICOAxiom.com
At Least $50,000 USD In A Year’s Time
“After the first wave of hype around Bitcoin at the end of 2017, the price of the “Father of Crypto” declined quite sharply, as the fast buck hunters got what they wanted. So the “extra” players began to leave the market. Crypto enthusiasts today are people who are knowledgeable about blockchain technology, they do not invest in the randomly picked ICOs, they multiply their knowledge and spread it within their environment. Thus, we are approaching the era of the late majority, which is much more exciting and promising than the 2017 rat run. To sum it up, I can safely predict that with the level of adoption and more outlets to educate people on Bitcoin, its price will be at least $50,000 USD in a year’s time.”
Eric Benz, CEO, Changelly
$30,000 And $50,000 By 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
A Low Of $4,000 And An Average Price Of $6,000
“The price of Bitcoin will be hit a low of $4,000 and an average price of $6,000 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, Attorney and CEO, LegalAdvice.com
It Will Cross $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. For example approximately $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 uptrend 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 an economic collapse globally.”
Sidharth Sogani, Founder and CEO, CREBACO Global Inc
$23,000 in 2020
“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 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 maximum value Bitcoin could ever reach is about $9k with gold around $1250/oz. A 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. 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 worst 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
Since it was created over a decade ago, the value of Bitcoin has soared, in turn, making its investors’ significant profits. The price of this cryptocurrency has gone from a cent to skyrocketing past $20,000 USD per Bitcoin at one point. Although none possess the oft coveted gift of foretelling the future, based upon these expert opinions, Bitcoin will see an exponential increase in its price. That said, always remember to do your due diligence before investing.
Latest posts by Sarah Bauder (see all)
- Precious Metals Investing: 5 Scams To Avoid - November 20, 2019
- Interview With Professor And Financial Advisor Brandon Renfro About Investments And Retirement Planning - November 12, 2019
- Canada Is At The Forefront Of Researching How To Create And Manage A National Central Bank Backed Digital Currency - November 7, 2019