Bitcoin price can win 100% in 2020, halving has not yet been taken into account, says Fundstrat
The price of Bitcoin can win 100% in 2020, halving has not yet been taken into account, says Fundstrat. Bitcoin (BTC) can provide a 100% return to investors in 2020 and can increase significantly in the five months until the halving of May, according to a new report.
In its next Crypto Outlook 2020, the market research firm, Fundstrat Global Advisors, said it believed halving was not yet “priced” in the price of Bitcoin.
Fundstrat expects more than 100% of BTC earnings
Currently, the report is only available to the company’s customers, and the main findings were uploaded to Twitter by co-founder Tom Lee on January 10.
“By 2020, we see several positive convergences that improve the use case and also the economic model for cryptocurrencies and Bitcoin, therefore, we believe that the total return of Bitcoin and and cryptocurrencies should exceed that of 2019,” says an excerpt.
Fundstrat continued: “In other words, we see a strong probability that Bitcoin will win> 100% in 2020.”
The factors that Lee and others identified focus on geopolitical tensions and the upcoming presidential elections of the United States, in addition to halving.
Fundstrat followed the example of last year’s events, noting that BTC / USD reached its peak amid tensions around the digital currency of Facebook, Libra, and negative comments on Bitcoin by President Donald Trump.
Bullish catalyst or “no event”?
As Cointelegraph reported, geopolitical factors form the basis of the Bitcoin bullish price scenarios of other commentators for this year.
However, when it comes to the impact of halving, experts are less united. Last month, Jason Williams, co-founder of the Morgan Creek Digital digital asset fund, said May would be a “non-event” for Bitcoin.
Williams seemed to contradict co-founder Anthony Pompliano, who a month earlier had claimed that even at USD 8,750, Bitcoin still did not have the price of halving.
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