Is there an upcoming trend in bitcoin? How much will crypto coins grow this 2020?
Some experts believe it has already started. Brian Armstrong, the founder of Coinbase, sets the prediction at 20K by the end of the year. John McAffee expects bitcoin to rise well over a million.
This October, the billionaire Peter Thiel invested over $20 million on new bitcoin mining technologies. Aside from these events, the global economy could influence as well. Here, Adam Back explains how USD inflation could raise the bitcoin price even more.
What makes this year different? Why are influential people getting into crypto precisely now? Do they now anything we don’t?
Bitcoin has generally gone up since 2017 despite the 2018 spike. But what if we in front of a new one? Most investors expect bitcoin to skyrocket even beyond the boom of 2018.
Will Bitcoin Go Up Again?
For new investors, these price changes are an opportunity. Once it goes up, it will be too late to get in, so how should you prepare? What’s the risk and reward of crypto?
The first clues of bitcoin growth came up this October. At this moment, Bitcoin grows at a rate of 20% per month. Although it reaches high values from time to time and bounces back, the price still goes up. We’ve seen this happening since December 2018.
Even if there was a crash, past records suggest it will get back up. Now that it’s accelerating, there’s not much time to reach. When will the explosive growth happen? You should expect it within the first half of the year.
What do crypto investors know about bitcoin?
Will bitcoin go up again? How can John McAffee be so confident about the trend? Until today, we’ve mined over 18 million bitcoins in total. By the end of May, the number could reach 21 million, which is the hard limit set.
Of course, value increases lead to a slower production. But what will happen once we reach this cap?
There’s no governance system to regulate cryptocurrency. Will we just stop producing more coins? Could we set a new production limit?
The final decision will depend on the crypto community consensus. Regardless of the result, this event would globalize bitcoin. More and more countries could recognize it as a real currency. World-class brands would use cryptocurrencies as the primary format.
In a few words, this could cause a dramatic increase in bitcoin. Here is where John McAffee’s prediction starts to make sense.
Now, this doesn’t deny the usual ups and downs of the market. Once the major event happens, investors will have little time to react before it goes back down and regulates.
When the value goes far beyond the expected “ceiling,” you should expect it to stabilize. For smart investors, those few days are more than enough to meet such an opportunity.
Final words on Bitcoin Potential
Bitcoin has grown slowly but surely despite occasional spikes. While most crypto coins are volatile, this one is the most stable. This consistency may be indicating the market “floor,” so Bitcoin is about to go up.
No matter how much evidence we gather, there will always be uncertainty. Luckily, today’s investors can prepare better for potential growth.
We saw a similar trend in 2018. What made Bitcoin go up, and how does it relate to 2020? Could we find patterns in other coins like Ethereum? If you connect the dots, you may find your opportunity before it’s too late.