{[{item.pair.split("_")[0]}]} ${[{item.price.toFixed(4)}]}

{[{item.change24}]}%

{[{item.change24}]}%

CREATE ACCOUNT

analytics
COIN ANALYSIS & WATCHILIST

transaction
ADD TRANSACTIONS WITH EASE

cryptonews
CRYPTO NEWS

Have an account? login

BTC December 2020 Forecast. Based on Bobby Lee Calls

BTC  Forecast

June 30, 2020 | 

JOHN K MWANIKI |  0 Comments| 

2449 Views

Share:

Get Into Cryptocurrency Trading Today

Even though Bitcoin is already massive in the economy, its volatility is a persistent challenge. The changes in the value inform how investors trade and the possibility of stability at last. 

Furthermore, the difference in cost on Bitcoin tends to trickle to the other crypto coins. For that, most speculators have a role in predicting the value of the currency at any given time. Most of the predictions are always right. 

One of the sensational latest predictions was made by Bobby Lee, China's first exchange, BTCC's CEO. Earlier, Bobby had predicted the value of Bitcoin to reach $1 million within 20 years. However, this has changed with him predicting the value to reach an all-time high of $25,000 by December 2020. 

Furthermore, he expects the run to get to an ultimate $39,900 by late 2021. Relaying the thoughts through a tweet to Elon Musk of Tesla, Lee observed that by then buying a Tesla would cost only 1BTC. He even promised to give away a free Tesla if the prices hit such targets.

He also went ahead to create a poll on the Bitcoin enthusiast's views on the expected value changes. 

Reasons for the Expected Bullish Price Increase 

The changes in Bitcoin prices depend on several factors. The main reason for the expected price increase this time round is the halving. Bitcoin has a system where it reduces the miners' reward to half after every four years. 

So far, there have been two successful halvings in 2012 and 2016. The 2012 one came with massive results. It came with an increase of around 200%. The 2016 edition also came with a relatively high success of gains of about 60%.

With the current high values of the Bitcoin, such price control mechanisms seem to have more effect.

Currently, most people are looking to own the coins, more than ever before. Reducing the number of coins available through halving, coupled with the high demand for the coins, is likely to make the price shoot further. 

The other reason for the likely increase in the Bitcoin price is its viability as a stable investment. Even though most people had considered bitcoin a haven, the mantra had never been confirmed until Covid-19 hit. The coin had a mixed reaction to the virus's effects.

By declining acutely during the early period, most people thought Bitcoin is not as safe as thought. The decline coincided with a declining traditional economy as the economy kept stalling.

However, while the fiat economy relied on the central bank's measures for stability, bitcoin started rising. The rise had been so significant, it even went past the elusive $10000. 

Still, most traders described the sustained rise as a bull run. They thought it would only last for some time then fall flat once more. They had relied on the signs of lack of more investors and other cryptos not rising as well.

Few months down the line, the coin has sustained such high levels with more possibility of expanding further. 

Such sustained rise has boosted traders' trust on the coin. The economic crises fueled by the COVID-19 pandemic has also made traders realize the need for adverse investments.

With crypto being a viable alternative, nothing seems better than an excellent performing Bitcoin. All factors kept constant, Bobby Lee is not way off the mark to say Bitcoin will hit unprecedented levels in 2020. 

Predictions by Other Experts 

Apart from Bobby Lee, several other Bitcoin enthusiasts and thought leaders have voiced their predictions for the crypto. The first other notable figure is yet another Lee, an ex-chief Equity Strategist JP Morgan paints a picture of a growing coin.

Even though Tom Lee doesn't give exact numbers, he says the BTC investors will grow due to the break-even of the price of 1TBC. 

Fran Strajnar also provides a definite prediction of the crypto world. He believes the coin will attract more users over the year that it will hit $200,000 mark by February 2020. The same thoughts are shared by another ardent Bitcoin commentator, John McAfee.

He believes the coin will grow to reach the million mark. While it might be on a light note, he sure believes in the growth pattern. 

If there is one man that has continuously been correct with his prediction on Bitcoin is Anthony Pompliano. The Morgan Creek Digital partner had predicted the fall and rise of the coin to $3k and back to $10. While it seemed unbelievable at that time, it is how the market changed.

He has also vouched for a growing Bitcoin for this and the coming years.

Bottom Line 

The volatility of bitcoin is a feature that seems not likely to end any time soon. For those looking to get a piece of the investment, right now seems the best time to buy the coin. With Bobby Lee and some other top crypto commentators predicting a surge, it is all you need.  

Buy & Sell Cryptocurrency Instantly

Share:

COMMENTS

0 Comments

Like this article

CREATE ACCOUNT

LIVE RATES

All COINS

TRENDING

Market Cap {[{ marketcap }]}

Symbol

Price

Change

Chart

Trade

{[{ item.pair.split('_')[0] }]}

${[{ item.price }]}

{[{ item.change24 }]}

{[{ item.change24 }]}

TRADE

Showing {[{ showing }]}

Market Cap {[{ marketcap }]}

Symbol

Price

Change

Chart

Trade

{[{ item.pair.split('_')[0] }]}

${[{ item.price }]}

{[{ item.change24 }]}

{[{ item.change24 }]}

TRADE

Showing {[{ showing_trend }]}

WHAT'S NEW

NEWS

REVIEWS

BROKERS

WALLET