In an interview, Antoni Trenchev, co-founder of Nexo, stated that the bitcoin price could pass the bar $ 50,000 by the end of the year.
Trenchev co-founded the startup Nexo which offers the possibility of lending crypto-currencies against Fiat money. He is one of the crypto enthusiasts who think that the bitcoin price could exceed $ 50,000 in 2020.
“We could easily see the Bitcoin reach $ 50,000 by the end of this year, “he said in an interview with Bloomberg.
According to Trenchev, the next bitcoin halving, that is, halving the mining rewards on the network, could have a significant impact on the price of the first cryptocurrency on the market.
“The last time this happened, Bitcoin increased by 4,000%,” he added.
Asked about the use of Bitcoin as daily payment, Trenchev acknowledged that the digital coin was not suitable for paying for coffee.
“Now, Bitcoin is more perceived as the new gold. Its price could reach $ 50,000 if the assets grab 10% of the current gold market, “he said.
After reaching nearly $ 20,000 in December 2017, the bitcoin price lost more than 75% of its value in 2018 and then started to rise again in early 2019 and hit $ 14,000 last summer. Its price has since been halved and now ranges between 6,500 and 7,500 dollars.
We remind you that theinvestment in crypto assets, including Bitcoin, is extremely risky. Cryptocurrency prices are subject to significant price fluctuations.