As the Bitcoin halving event is nearing, the crypto space is getting pumped up with enthusiasm. Very recently, Bitcoin hit the $10,000 mark, which filled the crypto space with frenzy. There are crypto analysts and enthusiasts who have been giving optimistic predictions since then. Fundstrat's Tom Lee said that Bitcoin might reach $40,000 by the end of 2020. Tom Lee has been very vocal about his interest in Bitcoin always. He states that Bitcoin might give enormous returns post the halving event that is scheduled to be in May 2020.
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 hash rate reaching an all-time high of 62 quintillions per second.
Currently, Bitcoin (BTC) is trading at $9777.76 USD with a BTC price of 0.19% down today. The market cap of Bitcoin is USD 178,187,585,214 with 18,223,762 BTC circulating currently. The 24-hour price movement chart indicates that $45,928,009,445 worth of BTC was trading. The price peaked at $9,821.9500 in the last 24 hours while the lowest price was $9,493.6300 (Bitcoin price prediction today USD). You can check the Bitcoin hourly price prediction or Bitcoin price live on any of the sites.
Let's understand what is the Bitcoin price prediction for 2020 and the next 5 years. 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:
Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, believes that after the Bitcoin halving event, which is expected to happen in May 2020, Bitcoin can deliver 100% returns to its investors in 2020. He recently predicted Bitcoin's short-term potential while speaking to Yahoo Finance, where he believes BTC might hit an all-time high of $27,000 by summer, 2020.
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.
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.
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.
In an interview with Cointelegraph, McAfee predicted that 10 years from now, “there'll be no fiat anywhere in the world [...] everything will be cryptocurrency.”
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.
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 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 that might function freely and securely. By the end of the year 2020, the Bitcoin price will reach $23,499.
Bitcoin might experience unexpected growth by 2022, with the adoption rate getting tripled. Bitcoin might be accepted by the masses worldwide as the most feasible payment system, which is hassle-free. Bitcoin anyway is not far off before it takes the sweet spot for fiat currencies, and most of the developed world might see the change coming in faster than the rest. By 2022, Bitcoin might reach $32,000, given the advancements are stable.
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.
Bitcoin is the most popular cryptocurrency, dominating the crypto space with its blockchain technology and its scarcity. Bitcoin was created in 2009 by the pseudonym Satoshi Nakamoto, who might be an individual or a group of people. It works on a peer to peer network, where no intermediaries are involved. It is the digital currency, which aims to exclude the intervention of any third parties, while you are transacting.
It is gaining adoption and some people have started using BTCs in real-time, like buying a Lamborghini or buying a mansion. It's easy as well as advanced. Once you understand the technology behind it, you will definitely embrace the beauty of this digital currency.
As per the experts and crypto enthusiasts, a huge chunk of people are optimistic about Bitcoin going up in value in the years to come.
It depends on you and your goal, as in if you are looking for long term investment or short term investment. Moreover, it is highly recommended for you to do thorough research before making any investment decisions.
As per the most expressive Bitcoin enthusiast, John McAfee, Bitcoin might reach 1 million in 2020. He is pretty optimistic and confident in his statement. But that might be a little way too optimistic bullish figure.
You can get Bitcoin with fiats like USD or Euro. But Bitcoin is a virtual electronic currency with an efficient built-in transfer system. You need to put it in an exchange and convert it into fiat to exchange it for real money.
Bitcoin might reach $23,500 by 2020 end.
The lowest price was in October 2010, when Bitcoin was worth less than a dollar and cost $0.125, and in 2011February to April, it was trading at $1.00.
Bitcoin might surge way above $50,000 by 2030. It might even reach $75,000.
You just need to convert Bitcoin into fiat currency and send it across to your account. Sometimes, Bitcoin ATMs can also be helpful.
Bitcoin enables transparency and decentralization, and different countries have specific rules and regulations.
You can go here directly to start buying Bitcoins.
1 Bitcoin is equivalent to $9,544.34 as of October 28, 2019.
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