The price of Bitcoin in 2020 depends on the halving effect

The price of Bitcoin in 2020 depends on the halving effect

Where the price of Bitcoin will reach in 2020 depends on the effect that half the block rewards will have on the market. But analysts fail to agree on this effect.

Rational market theory argues that investors have had years to prepare, and therefore the reduction of the BTC block reward should have a small effect on prices. However, the crypto market has not been noticed by logical developments.

“The price of Bitcoin in 2020 needs macro catalysts greater than a marginal 2% reduction in inflation rates”,

considers Ryan Selkis of Messari.

Yele Bademosi from Binance Labs expects:

“The lowest BTC price in 2020 will be higher than the minimum annual level of 2019 (~ $ 3,300)”.

Blockchain Capital believes BTC will exceed $ 20,000 by 2020. Su Zhu from Three Arrows Capital has the same opinion. One of The Spartan Group’s partners believes that Bitcoin will reach $ 40,000.

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Seonil Moon from Bithumb also supports the 40,000 prediction and mentioned:

“By 2020, institutional investors will move beyond testing and start creating a new demand for crypto.”

The biggest optimist for next year is John McAfee. However, very few community members believe in his $ 200,000 prediction he backed for the Bitcoin price.

Promising altcoins

Spartan Black claims that one of the most promising tokens for next year is DOT from the Polkadot project:

“In China, it is the only project that is approaching Ethereum in terms of profile, community and investor interest.”

Spartan Black also expects MKR Maker to exceed $ 1,000.

Experts are less optimistic about the Telegram TON token. Blockchain Capital has predicted that none of the Tier 1 networks that will be launched in 2020 will enter the top 10 marketcap.

Spartan Black expects SNX and BAT to increase their market cap next year, but DOGE, NEO and ICX will lose ground. Finally, Chia’s Bram Cohen predicts that Tether (USDT) will become the third largest digital asset as a market cap.


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