Bitcoin Price Prediction & Market Prediction For Bitcoin Price:

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Bitcoin has been experiencing a lot of fluctuations, which is making the traders and the hodlers worry. But as per the market experts, this is just a matter of time before Bitcoin will emerge again. Bitfury, the Bitcoin Mining giant has launched Exonum Enterprise, the first blockchain built from the ground up to enable large organizations to streamline their business and increase transparency using the Bitcoin Blockchain.
Furthermore, Bitcoin is the only crypto that has received worldwide attention, awareness, and adoption. It has been accepted by organizations and payment gateways all across the world. Even new milestones are being achieved like Bitcoin hashrate reaching an all-time high of 62 quintillions per second.
Currently, Bitcoin (BTC) is trading at $7,552.5406 with a BTC price of 0.62% up today. The market cap of Bitcoin is USD 137,035,373,505 with 18,144,275 BTC circulating currently. The 24-hour price movement chart indicates that $20,137,409,470 worth of BTC was trading. The price peaked at $7,559.3100 in the last 24 hours while the lowest price was $7,330.3200. (Bitcoin price prediction today USD). You can check the Bitcoin hourly price prediction or Bitcoin price live on any of the sites.

Market Prediction For Bitcoin Price:

As the market is experiencing volatile conditions, we should back up the prediction with the market experts, who have been the mind and heart of the cryptocurrency market.


Let’s take a look at the famous Bitcoin predictions:

#1 Tom Lee Bitcoin Price Prediction

Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, believes that the break-even cost of mining 1 BTC directly correlates with the price of the cryptocurrency. He believes BTC would grow as he is counting on more institutional investors taking on Bitcoin and a steady increase in Bitcoin user base. He recently said in an interview that US President Trump’s remarks could actually trigger a bull run.
#2 Fran Strajnar Bitcoin Price Prediction

Fran Strajnar comes up with a very optimistic prediction where he believes that BTC might reach $200,000 by January 2020. He believes that the rate of adoption is directly proportional to the price increase. The more the adoption rate, the more the increase in value.

#3 Bobby Lee Bitcoin Price Prediction

Bobby Lee, CEO of China’s first exchange- BTCC said before that it would take 20 years for BTC to reach $1 million. Now his prediction totally changed. Bobby Lee, the co-founder of BTCC (Hong Kong-based Bitcoin exchange) and the brother of Charlie Lee, Litecoin creator gave an extremely bullish prediction but started with bearish though. He claims that Bitcoin might pick up from late 2020 and could reach $333,000 in 2021 and then fall down to $41,000 in 2023. He iterated that the market capital might reach $7 trillion, that might surpass the market cap of gold. He even mentioned that Bitcoin would lead to price stability and global liquidity in the coming years.

#4 John McAfee Bitcoin Price Prediction

John McAfee has been one of the stagnant Bitcoin enthusiasts, who now and then comes up with his prediction. He recently became more optimistic than ever and said that Bitcoin might reach 1 million USD by 2020. Other altcoins like Apollo and MTC might rise 10X more, as said by this BTC enthusiast. He recently stated that his past Bitcoin prediction of 1 million USD was just a ruse.

#5 Tim Draper Bitcoin Price Prediction

Tim Draper, one of the renowned Venture Capitalist predicted that Bitcoin could occupy 5% of the currency market by 2023. He is optimistic that Bitcoin price might grow as much as $250,000 by 2023.

Our Verdict On Bitcoin Price Prediction

Even though Bitcoin has been experiencing frequent fluctuations, we believe that Bitcoin will soar up as per the predictions stated above. There are several reasons which led to Bitcoin’s price fall like Bitcoins being used for illicit purposes and so many past mishaps like hacking and thefts. Pros outperformed the cons, hence Bitcoin is still the market leader, bagging the number one position and maintaining its position. Bitcoin might reach the $23,500 mark supposedly by the end of 2020 as the year holds good prospect and development for BTC like NASDAQ launching BTC future, that too in the very beginning of 2020.

Bitcoin Price Prediction 2020: Will Bitcoin Go Up?

Bitcoin has been performing quite well and recently it has started with its bull run. This has taken the market by amazement. Now the traders and investors are in a state where they are trying to make optimum utilization of the bull run. The more the trading, the more the price. Moreover, as we know, Bitcoins are scarce in circulation, i.e. there can be only 21 million Bitcoins mined, out of which 17 million has been mined already, which means only 4 million to be mined, which will make its value more. Additionally, several countries like the U.S., Japan, and South Korea have shown extreme willingness to integrate Bitcoin and other cryptocurrencies into their financial systems by setting up regulated markets which might function freely and securely. By the end of the year 2020, the Bitcoin price will reach $23,499.
Bitcoin Price Prediction 2025

Bitcoin price prediction suggests that the Bitcoin price is up for a long-term 385.450281% in the BTC price value with a 5-year investment. This means that in 2025, the Bitcoin price is forecasted to stand at $ 50044.6. (Bitcoin Future Prediction)
Bitcoin might touch the $50k mark in the year 2025, which can take the crypto market to a whole different height altogether. As per the predictions and analysis, Bitcoin stays securely to number one position, without any close contender. Gradually, Bitcoin might be seen more as a store of value, along with it being an alternative currency. There are certain Bitcoin price prediction tools which help the experts come up with data. The fiat currencies might be replaced by Bitcoin, as predicted by crypto enthusiasts like John McAfee.
By 2025, Bitcoin might be used more often by more people, i.e, the real-time use case will be increased, which will make it even more powerful.

 

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Why The Bitcoin Price Could Hit $50,000 In 2020
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While the Bitcoin price was on the decline for the second half of 2019, the reality is the crypto asset still roughly doubled in value over the course of the entire year. In fact, there were only two major cryptocurrencies that outperformed Bitcoin in 2019.
On Friday morning, Nexo co-founder Antoni Trenchev told Bloomberg’s Matt Miller why he thinks the Bitcoin price could continue to rise to the $50,000 mark in 2020.
“I think that, very easily, we could see Bitcoin going up to $50,000 by the end of this year,” said Trenchev.
Trenchev’s Nexo platform allows users to borrow fiat currency against their cryptocurrency holdings. According to Nexo’s researchers and analysts, a massive rise in the Bitcoin price could occur due to the upcoming halving event. A halving event in Bitcoin is when the amount of Bitcoin generated by the network roughly every ten minutes is cut in half. This event takes place about every four years.
While the Bitcoin price was on the decline for the second half of 2019, the reality is the crypto asset still roughly doubled in value over the course of the entire year. In fact, there were only two major cryptocurrencies that outperformed Bitcoin in 2019.
On Friday morning, Nexo co-founder Antoni Trenchev told Bloomberg’s Matt Miller why he thinks the Bitcoin price could continue to rise to the $50,000 mark in 2020.
“I think that, very easily, we could see Bitcoin going up to $50,000 by the end of this year,” said Trenchev.
Trenchev’s Nexo platform allows users to borrow fiat currency against their cryptocurrency holdings. According to Nexo’s researchers and analysts, a massive rise in the Bitcoin price could occur due to the upcoming halving event. A halving event in Bitcoin is when the amount of Bitcoin generated by the network roughly every ten minutes is cut in half. This event takes place about every four years.
“The last time this happened, Bitcoin rallied 4,000%,” noted Trenchev.
Trenchev also pointed out that Bitcoin is mostly uncorrelated to the rest of the market, providing asymmetric returns for holders of the cryptocurrency.
Miller pointed out that Bitcoin hasn’t grown much as a payment option since he tried to live on the digital currency for a Bloomberg investigative report back in 2012, but Trenchev claimed the main selling point of Bitcoin has evolved over the years.
“The initial idea was: We’re going to pay for coffees with Bitcoin,” said Trenchev. “But, obviously, that has failed to materialize. The narrative, now, that is much more persuasive is that Bitcoin is the new gold, and we see confirmation with the turmoil that we have this morning — Bitcoin is rallying on par with gold.”
Trenchev added that the Bitcoin price would reach the $50,000 level if the crypto asset is able to take hold of 10% of the current gold market. The Nexo co-founder claimed that, eventually, people will only be able to afford to buy satoshis rather than whole Bitcoins for their portfolios.
Members of the cryptocurrency industry are not the only ones who are aware of Bitcoin’s potential, as members of the United States Congress also envision a world where this technology could have a major impact on society. Congressman Patrick McHenry (R-NC) has said Bitcoin has enormous long term value, while Congressman Brad Sherman (D-CA) is worried about the cryptocurrency’s potential impact on the U.S. dollar as the major reserve currency in the world.

 

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Bitcoin price prediction 2020
2020 is an important year for Bitcoin, and a lot is bound to happen. One of the most important events is the long-awaited bitcoin block halving that will take place in May 2020. It’s almost certain that the halving will have an impact on the bitcoin price. And when you take that and other upcoming events into consideration, it could well be that 2020 becomes the year in which all records are broken.

Bitcoin block halving
Bitcoins will not be ‘created’ endlessly. A total of 21 million bitcoins will be put into circulation. Actually a little less, to be precise. A total of 20,999,999,9769 bitcoin will be mined in total. These bitcoins are released at a predictable pace through block rewards for miners.
That reward is halved every 210,000 blocks. Since a block is found approximately every ten minutes, you can calculate that it takes four years to mine 210,000 blocks. In the beginning, miners received 50 bitcoin per mined block, four years later the reward was 25 bitcoin, and currently a miner receives 12.5 bitcoin per block. After the bitcoin block halving in May 2020, the reward will consist of 6.25 bitcoin. This way, less and less new bitcoin come on the market and there is a controlled and predictable deflation. Demand for bitcoin is expected to continue to grow, but the supply can’t grow proportionally.
When the halving causes the demand to exceed the supply, the value of bitcoin increases. Now, it has to be said that bitcoin is still relatively young, and the crypto market doesn’t always behave according to what we are used to from traditional financial markets.
It is also interesting to take a look at previous block halvings. Some traders believe that the bitcoin block halving has a direct effect on the price.In 2012, for example, the first halving took place. A year later, bitcoin reached a provisional all-time high. The same happened in 2017, a year after the 2016 halving.

How is that possible? Currently 1,800 bitcoins are mined every day. The vast majority of those coins are sold directly by miners to cover energy costs for example. When the reward is cut in half, the sales pressure decreases. This could have positive consequences for the price.
Institutional parties

Since 2016, the million dollar question has been: Will institutional parties be allowed to offer bitcoin? That they haven’t already certainly isn’t to blame on the institutional parties themselves. There is more than enough enthusiasm from Wall Street and large Asian markets to start trading in cryptocurrency and bitcoin-derived financial products.
In the United States, the main obstructions are regulation, the strictness of the SEC, and obtaining a BitLicense. Every company that wants to trade in crypto in New York (where Wall Street is located) needs a BitLicense, which is a permit granted by the New York State Department of Financial Services. And it is not easy to obtain one.
The role of the SEC is to evaluate requests from institutional parties, for ETFs for example, and to approve or reject them. This process is delayed a lot because the SEC is allowed to postpone their decision several times. This also happened with earlier requests. There are currently three major applications under review. The prediction is that the SEC will rule on these before the end of 2020.
If they all get approved, a lot of money from big investors will go into the cryptomarket and that could drive up the price. All in all, 2020 will be an important year for the price development of bitcoin. The price found its way back up again in 2019, after some heavy drops in 2018. Will 2020 be another great year?