After witnessing a rejuvenating 2019, it appears that Bitcoin will surge yet again. Bitcoin has caught the interest of many people all over the world and they continue to make a prediction about its trend. In the long list of individuals forecasting the trends of Bitcoin, notable trader Bob Loukas has shared his views on Bitcoin, gold, and stock in 2020.
According to Bob, 2020 is set to be bullish for the world’s leading cryptocurrency. A strong accumulation is expected to take place for a brief period in 2020 for BTC. The accumulation of BTC will lead to upward momentum for the cryptocurrency. Gold witnessed a good 2019 and may reach a new all-time high in 2020. The same could apply to Bitcoin as well in 2020. Bob thinks that 2020 will remain a good year for both BTC and the yellow metal.
If another report is to be believed, the rising uncertainties prevailing all across the globe and weak Dollar may push more investors into BTC. A fixed supply of cryptocurrency may cause a price rise in 2020. Earlier this week on Wednesday, Bitcoin rose to seven-week high and gold scaled to $1600 for the first time since 2013.
According to Adam Back, CEO of Blockstream, Bitcoin is poised to reach an all-time high of $100,000 in 2020 amid the impacts of halving and technology fundamentals. The potential of beating its previous all-time high of $20,000 is quite high.
Paolo Ardoino, Chief technology officer of Bitfinex, said that he does not think Bitcoin will fall below $6000. When 2020 comes to an end, Bitcoin’s price may hover around $20,000.
Philipp Sandner, Head of Frankfurt School Blockchain Center, said that it is difficult to estimate. As per one narrative, Bitcoin has emerged as digital gold. According to this version, the price of Bitcoin may reach the range of six-figure. Meanwhile, the recent development in India, China, and some other countries may, however, make cryptocurrencies doubtful. The price of Bitcoin may also drop to a huge extent. It may touch the range of four-digit numbers. The two cases may have a strong likelihood in principle.
Bitpay Chief Commercial Officer, Sonny Singh said that crypto prices are likely to scale a new all-time high this year after Nexo co-founder, Antoni Trenchev claimed that Bitcoin price would remain in the range of $50,000 in 2020.
It is interesting to note that Singh’s prediction proved to be true in 2019 when he predicted that Bitcoin would remain in the range of $15,000 in 2019.
This year he suggested that Bitcoin will pass the all-time high and said, “I think Bitcoin passes the all-time high and goes passed $20,000 this year.”
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