Bitcoin will reach $ 25,000 according to Bobby Lee’s analysis

Many crypto analysts believe that the block reward reduction that will take place in May will generate significant gains for the Bitcoin price. Many believe that the BTC will exceed the historical maximum value this year.

Analysts’ opinion

Bitcoin analyst Jack posted on Twitter charts comparing the BTC evolution of 2017 with that of this period. These show a similar evolution and suggest that Bitcoin has been growing steadily until the end of the year.

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Venture capital investor Tim Draper believes that all the money that is printed will reduce the value of fiat currencies. This could encourage investors to start using Bitcoin, which has a limited supply and cannot be manipulated by governments. Draper also believes that the current crisis will increase interest in digital financial innovations such as Bitcoin, smart contracts and artificial intelligence.

Bitcoin will reach $ 25,000!

Ballet CEO Bobby Lee expects Bitcoin to reach $ 10,000 by halving. He expects governments to continue printing huge sums of money to support the economy affected by the coronavirus crisis. Subsequently, this plentiful supply of money could lead to inflationary pressures, which will drive investors to Bitcoin. By the end of this year, Lee expects Bitcoin to reach $ 25,000. He explained the logic of his prediction in a series of statements for the Cointelegraph:

“I expect a huge increase in demand for cryptocurrencies in the coming weeks as Bitcoin inflation slows by half, while governments continue to swell currencies to lessen the economic impact of the global pandemic.
As a larger amount of fiat money pursues a limited amount of goods and services, a significant increase in inflation is inevitable. This will cause prudent investors to resort to Bitcoin as a safe haven to retain their purchasing power.
I am convinced that Bitcoin will surpass its peak of $ 20,000 by the end of 2017 to reach a new high of $ 25,000 by the end of 2020 ”.

Currently, Bitcoin is trading around $ 7,300.