Bitcoin's value skyrocketed by a mind-blowing 9 million percent over the past decade, an unprecedented financial spectacle that will undoubtedly be remembered as one of the most extraordinary occurrences in the world of finance.
Throughout its existence, Bitcoin has experienced frenetic highs and precipitous lows, yet it concluded the last ten years on a marked upward trajectory.
Remarkably, Bitcoin's price surged by 87% in 2019, nearly doubling as it climbed from $3,843 USD to $7,200. Meanwhile, the hashrate of the Bitcoin network experienced an impressive 150% increase, skyrocketing from 40 exahashes per second to 100 exahashes per second.
The past year also witnessed major corporations launching significant new products, such as Bakkt alongside its innovative futures offerings. Meanwhile, economic instability in Latin America and evolving trade dynamics between China and the U.S. fueled global chatter about Bitcoin's growing potential as a protective asset; furthermore, pro-Bitcoin political figures began emerging in greater numbers. satoshi “ ossified into the English language and the second-layer scaling solution for Bitcoin, known as Lightning Network, continued to mature.
And that’s just the beginning of the story…
Track Bitcoin's Current Market Price Right Here.
Now that 2020 is underway, excitement is building across the cryptocurrency community as enthusiasts ponder what's coming next. for Bitcoin this year.
And the Bitcoin halving Spring brings with it an event that's stirring ample intrigue, with some experts speculating it could trigger significant price shifts. And with the dawn of a new year, predictions are already flying thick and fast!
With an abundance of opinions available, let's peer into the clamor of thoughts circulating within the cryptoeconomy about Bitcoin's trajectory this year and beyond.
Curious about expert opinions on Ethereum’s Price , see their predictions here .
Nouriel Roubini: $0
Dr. Nouriel Roubini, often referred to as 'Dr. Doom,' is an American economist who has gained notoriety for being one of cryptocurrency's harshest mainstream critics over the years.
Dr. Roubini has consistently stated his belief that Bitcoin possesses no intrinsic value and is destined to collapse to zero. Recently, the economist has been quieter, yet last summer he launched another of his customary critiques, tweeting that 'Donald Trump is right about Bitcoin'.
This comment referenced President Trump's famous July 2019 Twitter tirade, in which the president branded Bitcoin as 'not money' and 'built on thin air.'
Thus, it's been no secret before or in 2020 how Dr. Roubini values Bitcoin: essentially, not at all.
Donald Trump is right about bitcoin https://t.co/YbBJsxTsRa
— Nouriel Roubini (@Nouriel) July 13, 2019
Peter Schiff: $1,000, maybe
‘Bitcoin is nearing a critical threshold in the head-and-shoulders pattern I flagged before the October 25th 40% rise. We're seeing diminishing upward pressure in the right shoulder, and a potential breakdown below $1,000 looms to complete the pattern,’ remarked Peter Schiff.
These insights come from Peter Schiff, an American economist, financial commentator, and staunch advocate of gold. A long-time detractor of Bitcoin, these comments were part of a Twitter debate last November.
In that discussion, Schiff suggested Bitcoin might be on a trajectory to drop to $1,000. While market conditions may have evolved since then, one might reasonably assume Schiff still considers such a decline plausible.
Furthermore, Schiff forecasts that both U.S. equities and Bitcoin are headed for a downturn, with Bitcoin expected to fall even more rapidly.
Continuing the December trend, every asset class saw gains except for Bitcoin. #Bitcoin Once the most successful asset of the past decade, Bitcoin now ranks as the poorest performer of this decade. While U.S. stocks might soon decline, Bitcoin may plummet at a swifter pace.
— Peter Schiff (@PeterSchiff) January 2, 2020
BitMEX Research: $2,000 to $15,000
The research team at BitMEX, a prominent cryptocurrency derivatives exchange, unveiled their 2020 forecasts last Christmas Eve, which are notably plausible. The analysts projected that Bitcoin would maintain a price between $2,000 and $15,000 throughout the year, much like its performance in 2019.
BitMEX analysts also predicted Bitcoin's market dominance wouldn't surpass 75% nor dip below 30%.
2020 Predictions:
– $BTC over $2,000, but also under $15,000
– $BTC dominance under 75%, but also over 30%
– CSW predicts: 2021 will see Chinese miners halting BTC mining and unleashing 1 million of their coins upon the market.
– #MATIC falls in value by over 80% @NemanjaMaticHappy New Year
— BitMEX Research (@BitMEXResearch) December 24, 2019
Andy Cheung: $14,000
Offering an intriguing perspective, Andy Cheung from OKEx, a leading Chinese crypto exchange, predicted suggested Bitcoin could reach $14,000 in 2020, boosted by the anticipated approval of the first Bitcoin ETF in the U.S.
‘In the coming year, we're likely to witness the expansion of global payment solutions that bypass traditional banks. Bitcoin and other digital currencies are reshaping financial structures and reframing our view of assets broadly.
We anticipate the listing of a Bitcoin ETF in the United States before 2020 ends, potentially pushing Bitcoin above $14,000. A key driver is the approval of similar ETFs across Europe.’
Altcoin Daily: $20,000
Widely-followed crypto YouTuber Altcoin Daily is known for making predictions about Bitcoin. Back on January 4th, 2019, the commentator forecast that Bitcoin would outperform the majority of altcoins over the subsequent year, a prediction that ultimately came to pass.
True to form, Altcoin Daily is sharing their 2020 outlook: although a new altcoin surge might await 2021 or 2022, Bitcoin could potentially reclaim its $20,000 all-time high this year before the next halving.
The timing is intriguing, as some contend most momentum will follow after the halving.
Regardless of the halving's outcome, Altcoin Daily is betting there’s a decent chance that Bitcoin touches $20,000 before this year wraps up.
Tom Lee: $25,000 by 2022
Tom Lee from Fundstrat, largely regarded as Bitcoin's most enthusiastic advocate on Wall Street, predicted in 2019 that Bitcoin might hit $40,000 by year's end. That prediction missed, but he recalibrated in November 2019, projecting a $25,000 price by 2022.
Peter Brandt: perhaps below $6,800 before +$50,000
Classical chartist Peter Brandt has garnered attention in crypto circles with his no-nonsense take on Bitcoin price charts.
Last November, Brandt added his voice to a Twitter thread started by Tuur Demeester, an acclaimed Bitcoin analyst and founder of Adamant Capital. Demeester had noted that Bitcoin appeared to be nearing resistance at a support level of $6,800. Brandt replied with:
‘Tuur, we might need a longer period under the support line for Bitcoin to gear up for a leap to $50,000. The market needs a full purge of bullish sentiment. Only when the optimism vanishes from Twitter will there be a promising buy signal.’
In essence, Brandt argued that Bitcoin may need to face tougher times before brighter days come again. Interestingly, Brandt noted in December that Bitcoin seemed to be clinging to an important support level, suggesting a major drop below $6,800 might not happen.
Bitcoin $BTC has apparently held at important support pic.twitter.com/VqdX7B6Mmh
— Peter Brandt (@PeterLBrandt) December 18, 2019
Antoni Trenchev: $50,000
Antoni Trenchev, co-founder at crypto lending platform Nexo, offered remarks to Bloomberg in early January estimating Bitcoin reaching $50,000 before 2020 is out:
‘It's quite feasible that Bitcoin could top $50,000 by the year's end … Initially, the plan was to buy coffees with Bitcoin, yet that hasn't played out. The current, more compelling argument is that Bitcoin is evolving into the new gold, and today's market upheavals underscore its gold-like rally.’
PlanB: $55,000
‘After the anticipated May 2020 halving, Bitcoin's value is projected to reach a $1-trillion market cap, translating to a $55,000 price per Bitcoin.’ — PlanB
Pseudonymous BTC analyst PlanB is most recognized for discussing Bitcoin's ‘stock-to-flow’ valuation model, predicting BTC will appreciate as its scarcity increases with each halving. Elaborating on how this $55,000 figure can be achieved, PlanB noted: stock-to-flow ‘Wondering where all the capital required for a $1-trillion market cap for Bitcoin will come from? My take: investment moving from precious metals like silver and gold, nations with negative interest rates (think Europe, Japan, the US shortly), countries with aggressive state control (Venezuela, China, Iran, Turkey, etc.), billionaires and millionaires seeking a hedge against quantitative easing, and institutions hunting for last decade's best-performing asset.’
Tomas Salles, a cryptocurrency analyst with the renowned forex publication FXStreet, examined prior halving events in his 2020 analysis, predicting yet another post-halving moonshot towards $80,000. The emphasis below is Salles's own:
Tomas Salles: $80,000
‘The inaugural halving happened on November 28, 2012, reducing the initial reward from 50 BTC per block to 25 BTC. At that time, BTC/USD stood at around $12.22, and over 368 days, bitcoin price forecast phenomenal growth of 9218.67% was witnessed’
The second diminishing event came on July 9, 2016, cutting the reward further to 12.5 BTC per block. At that juncture, BTC/USD was valued at $657.61, and following 525 days, Bitcoin's value jumped 2938.57% to a peak of $19,800, , up to $1178 per BTC.
A rudimentary progression implies that the next climax might require close to three years with an approximate gain of over 1000%, aiming for a price near $80,000, .
Former Bitcoin skeptic Mark Yusko, the CEO and Chief Investment Officer at Morgan Creek Capital Management, now holds ‘hyperbullish’ views for the future. He predicts BTC could surge to $100,000 by 2021 and potentially reach $500,000 by 2030: ‘Anticipating a $100,000 Bitcoin between now and 2021 … By 2025, the price could ascend to $250,000, and further down the line, around 2030, Bitcoin might achieve $400,000 or $500,000 as it reaches gold equivalence … .”
Mark Yusko: $100,000
Bitcoin Price Prediction 2020: From Zero to a Million – What Experts Envision?
Exploring Bitcoin Price Predictions for 2020 by Noted Crypto and Financial Experts – Valuations from $0 to $1Million per Bitcoin Bitcoin Valuations for 2020: From Worthless to a Fortune – Expert Opinions Explored Examining the Bitcoin Price Forecasts by Renowned Crypto Specialists and Finance Figures – Ranging from Zero to a Million Dollars per Bitcoin
Tim Draper: $250,000
Bitcoin has seen a meteoric rise of 9 million percent over the past decade, marking it as a remarkable chapter in financial history.
Despite Bitcoin's roller-coaster history, the past decade saw the trailblazer of cryptocurrencies closing on a high note.
In 2019, Bitcoin's value surged 87%, nearly doubling from $3,843 to $7,200 by year's end. Meanwhile, Bitcoin's network hashrate also saw a substantial rise from 40 to 100 exahashes per second, a 150% jump.
The year witnessed major corporations launching flagship products, including futures offerings by
Bitcoin Time Traveler: $1,000,000 by 2021
currency crises in Latin America and evolving Sino-U.S. trade relations fueling global discourse on Bitcoin's growing appeal as a safe-haven asset; pro-Bitcoin politicians gaining ground; and the maturation of
Conclusion , Cameron and Tyler, are stars in the crypto space for their rapid rise to a net worth of more than $1 billion, largely powered by BTC gains. Cameron Winklevoss’ prediction of a $320,000 Bitcoin assumes a 10- to 20-year timeline.
Conclusion
Bitcoin Lightning Network, the second-layer scaling solution, steadily advancing.
And we're just getting started...
Keep an eye on Bitcoin's Live Pricing Here
As we dive into 2020, speculation is rampant across the crypto space about the year's potential surprises.
References
Expectations are mounting for spring's major event, predicted by some to trigger substantial price shifts — anticipation is palpable following the new year!
Let's capture a snapshot of the myriad perspectives buzzing within the cryptosphere about Bitcoin's trajectory this year and beyond.
— Nouriel Roubini (@Nouriel)
July 13, 2019
Curious about what the pros are saying?
Dr. Nouriel Roubini, or 'Dr. Doom' as some like to call him, is an American economist renowned for his vehement critiques of Bitcoin and the crypto space over the years.
Peter Schiff: $1,000, maybe
Despite various perspectives, Dr. Roubini remains steadfast that Bitcoin lacks intrinsic value and is destined to plummet to $0. Although he's lately been less vocal, last summer he reignited debate, tweeting 'Donald Trump is right about Bitcoin.'
#Bitcoin — Peter Schiff (@PeterSchiff)
January 2, 2020
This nod referenced Trump's explosive July 2019 Twitter rant, dismissing Bitcoin as 'not money' and built on 'thin air.' BitMEX Research: $2,000 to $15,000 Given this backdrop, it's hardly a revelation how Dr. Roubini valued Bitcoin then or in 2020: it's worthless to him.
Peter Schiff, an American economist, financial commentator, and infamous 'goldbug' trader, shared these thoughts. Schiff has long criticized Bitcoin, and his remarks cropped up during a Twitter debate last November.
In those discussions, Schiff speculated that Bitcoin might be headed for a correction down to $1,000. The charts could have evolved since, yet one might argue Schiff still sees this as a viable outcome.
2020 Predictions:
Additionally, Schiff forecasts a simultaneous decline in both U.S. stocks and Bitcoin, cautioning that 'Bitcoin will tumble even quicker.'
Despite being the standout asset of the past decade, Bitcoin presently underperforms this era's asset classes.
While I anticipate a downfall for U.S. stocks soon, I suspect Bitcoin's drop will be even more pronounced.
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- https://messari.io/asset/bitcoin
- http://dfj.com/people/timothy-draper/
- https://www.reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
- https://thenextweb.com/hardfork/2020/01/07/john-mcafee-reneges-on-promise-to-eat-his-dick-if-bitcoin-fails-to-hit-1m/
- https://cointelegraph.com/news/bitcoin-can-hit-250k-in-2020-reaffirms-tim-draper-as-dominance-rises
- https://www.forbes.com/sites/billybambrough/2019/12/13/former-bitcoin-skeptic-thinks-the-price-is-about-to-explode/#171f20705733
- https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-forecast-2020-btc-the-ultimate-store-of-value-201912201347
- https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
- https://www.cnbc.com/2018/07/06/winklevoss-stays-bullish-on-bitcoin-hires-nyse-cio-to-gemini.html
- https://www.forbes.com/sites/ktorpey/2020/01/03/why-the-bitcoin-price-could-hit-50000-in-2020/#6b0f27c12f37
- https://finance.yahoo.com/quote/BTC-USD/history?period1=1546322400&period2=1578463200&interval=1d&filter=history&frequency=1d
- https://www.blockchain.com/en/charts/market-cap
10$BTC
I think that the value of BTC will reach $70000 level and from that moment we will find something different. But for sure we can expect $7000-8000 by the end of this year. But it will happen not so steadily but in couple of jumps.
Cheung envisions Bitcoin hitting $14,000 in 2020 following the anticipated approval of the first U.S. Bitcoin ETF.
Tim Draper: $250,000
Cheung foresees expanded global payment adoption beyond legacy financial systems. Bitcoin and its digital siblings have transformed financial narratives, reshaping asset perceptions.
By late 2020, he believes it's quite likely a Bitcoin ETF could be listed in the U.S. Such development might catalyze Bitcoin's surge past $14,000. A prime motivator for this prediction is Europe's pre-existing approval of similar ETFs.
Conclusion
Altcoin Daily, a popular crypto YouTuber, consistently navigates Bitcoin predictions. In early 2019, they foresaw Bitcoin outpacing most altcoins within a year, a prediction that indeed flourished.
Altcoin Daily's updated 2020 forecasts are equally compelling: while the next altcoin boom might loom in 2021 or 2022, they're confident Bitcoin could reclaim its $20,000 zenith before 2020's halving unfolds.
That ties into debates where analysts posit major price shifts will occur post-halving.
Yet, regardless of the halving's timing, Altcoin Daily is optimistic about Bitcoin revisiting $20,000 by year-end.
Tom Lee of Fundstrat, Wall Street's renowned Bitcoin champion, predicted in 2019 that Bitcoin might reach $40,000 by EOY. While that didn't happen, in November 2019, he adjusted his forecast anticipating Bitcoin achieving $25,000 by 2022.
July 13, 2019
Peter Brandt, a classical chartist, has gained traction within crypto trading circles for his objective Bitcoin chart analyses.
Last November, Brandt joined a Twitter discussion initiated by Tuur Demeester, a prominent Bitcoin analyst and Adamant Capital founder. Demeester highlighted BTC's persistent resistance hovering around $6,800. Brandt responded thus:
'Tuur, an extended dip beneath the line might be essential for BTC's robust climb to $50,000. Bulls need to be entirely flushed. When no bulls can be spotted on Twitter, that'll be a stellar buy signal.'
In essence, Brandt signaled that Bitcoin's resurgence might necessitate a rough patch upfront. Notably, in December, Brandt observed BTC clings to a pivotal support level, so a drastic plunge below $6,800 may ultimately not transpire.
Antoni Trenchev, co-creator of the crypto lending platform Nexo, shared his musings with Bloomberg early January, suggesting a $50,000 Bitcoin is possible in 2020.
'I can easily see Bitcoin ascending to $50,000 by year-end… The core idea was initially around Bitcoin purchases for everyday items like coffee, which hasn't panned out. Today's more persuasive narrative positions Bitcoin as new digital gold, confirming today's market tumult — Bitcoin and gold are rallying side by side.'