According to Sonny Singh, the bitcoin price could beat her historic record of $ 20,000 by the end of the year. The financial director of BitPay believes that several "unforeseen events" will allow the digital coin to reach a new high.
In an interview with Bloomberg, the COO of the American company BitPay, one of the largest crypto-payment processors on the planet, returned to the evolution of the price of the first cryptocurrency on the market with a forecast bold enough to 2020.
"I think that Bitcoin will break his all-time record and spend the $ 20,000 this year, ”he said.
Singh said last year that the arrival of Fidelity and ICE, as well as the possible approval of an ETF by the SEC, could propel Bitcoin between $ 15,000 and $ 20,000. Although the two US giants have launched crypto products, the SEC has not approved an ETF. The BTC price meanwhile reached around $ 13,000 at its highest level in July 2019.
While many analysts cite the next halving, that is, the halving of mining rewards, like THE price trigger for Bitcoin in 2020, Singh predicts rather than “ unforeseen events ", As the announcement from Facebook Libra last June, propel the token price towards a new historic record.
“Technical and high frequency trading is what drives this Bitcoin market. Whenever you have an unforeseen circumstance like the Iranian incident that happened a few days ago it adds new buyers to the market, "he said.
According to him, countries likeIndia where the China could authorize the Bitcoin this year and large firms could try to compete with the Libra from the social media specialist.
“The US government could also do something. Something unexpected that could [Bitcoin] make it really speed up, ”he added.
The leader of BitPay concluded by citing the efforts of the American payment company Square, with its subsidiary Square Crypto, around Bitcoin.
Last week, another crypto-optimist, Antoni Trenchev, the co-founder of Nexo, pleaded for a Bitcoin at $ 50,000 in 2020.