Bitcoin Price Prediction 2020
July 08, 2020
What Is Bitcoin (BTC)?
Bitcoin is a solidarity network that first enabled a new payment system and completely digital money. It was shown to a broad audience in 2009 by the nom de plume Satoshi Nakamoto, who is assumed to be an individual or a group of people. The peer-to-peer platform is powered by its users with no central authority or middlemen, and, from a user perspective, BTC is pretty much like cash for the Internet.
As a payment system, Bitcoin has steadily risen in popularity over the years and is still the undisputed king of cryptocurrencies. Being the fact, the first official documented purchase of goods using bitcoins on May 22, 2010, was a pizza. Then, the worth of 10,000 BTC was $41. At the present time, the worth of 10,000 BTC is around $25.8 million. Bitcoin uses its in-born cryptocurrency called BTC. It is the first-largest coin by market capitalization until today. It’s the first cryptocurrency that is being accepted by a large number of international platforms, including many countries’ proposals on legal systems for trading BTC. To acquire Bitcoin, first of all, you need to have a digital wallet. Atomic wallet permits you to manage BTC and 300+ other coins in the cryptocurrency market on a single interface.
Bitcoin (BTC) Price Analysis
There are no questions over Bitcoin to be the evolution of all the other cryptocurrencies. Starting from almost zero value in 2009, BTC has always been at no.1 position with respect to market capitalization being followed by other rising cryptocurrencies like Ethereum, Ripple, Stellar, Tron, Litecoin, and etc.
Currently, it’s market capitalization is more than $125 BLN and Bitcoin’s 24-hour volume is listed at over $8.9 billion USD at the moment. It is marked at no.1 position in all the top 10 cryptocurrencies in the market. Bitcoin is also the most valuable currency with the current price of about $8,750.36 USD for 1 coin.
Bitcoin Price Chart
One of the most obvious benefits of Bitcoin is that it is out of the governments, banks and other intermediaries’ control, so no one can interrupt user transactions or freeze BTC accounts. Holders of Bitcoin experience greater freedom vis-à-vis dealing in national currencies. Moreover, there cannot be an inflation of Bitcoin by printing more money as in the case of fiat. Originally, the number of bitcoins that can be mined is limited.
Since there is no way to identify, track or intercept bitcoin transactions, one of the major advantages of bitcoin usage is that taxes are not added onto any purchases.
As compared to bank transfers in traditional currencies Bitcoin transactions are relatively faster. They are done with nominal or sometimes zero transaction charges. These transactions are anonymous with no names involved, only having a public record that anyone can see. Your private key is the only link between you and your bitcoins. As long as the private key is secure, your money is safe. It is very easy to send and receive bitcoins because of the ease of operation of bitcoin accounts. There is no way that the transactions can be reversed or canceled once completed.
Small amounts of bitcoin that are used as alternative units are millibitcoin (1 mBTC = 0.001 BTC), and satoshi (1 sat =0.000001 BTC) which is a millionth of a bitcoin in value.
Bitcoin (BTC) Price Today
For now, Bitcoin’s price is on the fall and BTC’s current pricing is $8,750.36 USD. Focusing on eagle-eye details mention on December 17, 2017: Bitcoin’s price briefly reaches its all-time high of $19,783.06. Bitcoin and cryptocurrency traders and investors have long been eying a return to bitcoin’s all-time high set in late 2017. However, currently bitcoin is low by more than 57% approx in comparison to its all-time high but the potential of Bitcoin is shouting loud enough for the world to wake up and consider future for the betterment?
Market Prediction For Bitcoin (BTC) Price in 2020
2019 has been a pretty nice year for Bitcoin and its major peers. However, by the end of September, the crypto market U-turned in a 24-hour period. Due to that, Bitcoin (BTC) has collapsed under $9,000, losing more than 15% in an hour during a mysterious rapid market crash.
The instant crash was presumably caused by a number of technical issues, but researches still believe that the Bitcoin value will continue to grow. Despite the fact that now BTC is traded below $9,000, it could become a very attractive opportunity for those investors who want to buy the BTC.
Even though Bitcoin’s price has always been fluctuated frequently, this time a large number of experts share the common opinion that the cryptocurrency will soar up. Bitcoin’s expected value in 2020 and five years ahead may eventually reach $50,000, an all-time high.
Bitcoin is the one that leads the other cryptocurrencies as a factor in determining the price. There is a serious co-relationship with the fluctuations of Bitcoin’s price and all the other cryptocurrencies in the cryptocurrency market. Let’s see, what the market experts have to say about predicting Bitcoins’ future.
Coindesk Bitcoin Price Prediction
Noelle Acheson is a pioneer of company analysis and CoinDesk Director of Research.
You whether call it the “halving” or the “halvening,” one of the few things we can be sure of in crypto is that the conversation around Bitcoin’s upcoming reduction in mining reward will intensify over the next six months. Why? Because previous halvings have triggered bull runs.
John McAfee’s: $1,000,000
The extravagant, explicitly anti-establishment technologist, charismatic and obscene John McAfee is predicting his own famous hypothesis on where Bitcoin’s price will go in 2020.
According to a news article and Twitter posts, McAfee considers that Bitcoin’s price will drastically reach one million Dollars, which will make Bitcoin’s market cap up to $18 trillion (18,000,000,000,000).
John expects this to be reached by the end of 2020 and he seems pretty confident about it. In November 2017, he doubled down on his $500,000 call for the same timeframe, raising it to a cool million.
Morgan Creek Digital CEO
The CEO of Morgan Creek Digital Mark Yusko has very interesting but simple advice for investors; sell Amazon stocks and invest in Bitcoin and blockchain. Yusko was a guest speaker at the Digital Asset Summit. He reckoned that Bitcoin is the crème de la crème of all technologies is presumably the best wealth creator in the world.
What we’ve been telling institutions is pretty simple. Folks, you’ve got to put one percent of your assets in Bitcoin as digital gold. It’s way better than gold.”
Yusko’s words were bold and optimistic for both Bitcoin and blockchain. He said that the two will be the conduit for making the “first 10-trillion-dollar company and the first trillionaire.”
Oliver Isaacs: $25,000 or more
One of the most prominent Bitcoin analysts, developers and educators Oliver Isaacs believes that Bitcoin has the potential to hit $25,000 by the end of 2019 or early 2020.
Fran Strajnar: $200,000
Fran Strajnar, CEO of crypto research firm Brave New Coin, expects the price of Bitcoin to hit $200,000 no later than January 1, 2020. In an interview with Inverse in 2018, Strajnar stated that the adoption in rates is keeping being quite steady, and it heavily correlates to the price, so therefore, until people just simply stop continuing to adopt Bitcoin for some reason, we all should see $200,000 per one Bitcoin by first January 2020 at the latest.
Bitcoin (BTC) Price Prediction 2020
If the events of the past few weeks have taught us anything it is that cryptocurrencies in general, and Bitcoin particular, are capable of some real surprises.
There are clearly many factors that will impact the future of cryptocurrency and especially Bitcoin. Yet when a mainstream bank like ING has positive things to say about its future it does inspire a degree of optimism.
“Cryptocurrencies remain a volatile and largely speculative asset but won’t necessarily stay this way forever,” says Jessica Exton, Behavioural Scientist, ING. “As for whether crypto is on its way to becoming the new cash: we see the uptake of all payment and investment options as they prove relevant and useful continuing. Diversification is, therefore, more likely…. at least for now.”
“Crypto is notorious for being hard to predict over relatively short-term periods but if one looks at the long-term price of Bitcoin, it’s hard to see the price going anything other than up, especially with the halving on the horizon in 2020,”
How to buy Bitcoin (BTC)?
Atomic is a decent option to buy Bitcoin, as the wallet is high-tech professional software that is decentralized providing the maximum security and much better handling of Bitcoin and 300+ other cryptocurrencies in the market in a user-friendly way.
Simply download the app on your mobile (Android or iOS respectively), create a strong password and save and keep secret the 12-word mnemonic seed phrase, as it is the only key to your valuable funds.
Now to buy bitcoin, verify your ID not to let identity fraud or theft. Photo ID is required to make sure that it’s really you. Next, just follow a few more easy guided steps as per your preference within the wallet to meet your needs. Start investing at $50 and up to $20,000 daily. Receive crypto on your wallet. Credit/Debit cards accepted.
How to Exchange Bitcoin (BTC)?
When it comes to exchanging crypto, Atomic wallet can really be convenient, secure and fun at the same time. You only need to do log in to Atomic.
Click on the tab Exchange as displayed on the left menu and then click on the tickers to select the trading pairs. Set the amount and click the Exchange button at the bottom.
Now your funds are sent to an exchange, all you need to wait for the transaction confirmation on the block explorer. You can now view transaction details once it’s complete.
New balance and transaction history will be uploaded on the history tab.
You can now receive Bitcoin and other 300+ cryptocurrencies on your Atomic wallet using Credit/Debit cards.