The 5 hottest Bitcoin predictions for this 2020
In the midst of uncertainty it is always good to hear from experts about the price of Bitcoin. So today we bring you 5 Bitcoin predictions for you. The world crisis caused by the Coronavirus has affected the most important financial markets, traditional and non-traditional. Therefore, when it is not yet clear what the effect of the disease will be on the price of Bitcoin in the medium term, at CriptoTendencia we bring you the 5 hottest Bitcoin predictions for this 2020.
Anthony Pompliano: Bitcoin price on the rise
We start our list of 5 Bitcoin predictions, with one of the most important crypto influences in the world. We are referring to Anthony Pompliano, the founder of Morgan Creek Digital, and one of the most authoritative voices when it comes to debating bitcoin’s price performance.
And it is that, Pompliano is optimistic these last days. Well, for him, the actions taken by the United States government will greatly benefit Bitcoin. Thanks to an increase in the money supply of US dollars, which without an equal increase in demand, should lead to a depreciation of the US currency.
Precisely the situation for which Bitcoin was created, according to Pompliano. Well, being a deflationary currency, a decrease in confidence in traditional assets such as the dollar, should direct the attention of large capitals to BTC. Increasing the demand for the currency and therefore its price.
To all this would be added the proximity of Halving in the Blockchain of the cryptocurrency, an event for which less than 50 days would remain. Which, by reducing the speed of expansion of the Bitcoins money supply, is expected to generate an increase in its price.
Peter Schiff: Still worthless
However, Anthony Pompliano’s position does not seem to convince everyone. And especially not Peter Schiff, the gold magnate known for his anti-crypto positions. Assets you would consider a bubble with no real value.
Schiff’s position does not appear to have changed in the least in recent days. Well, in fact, in a special participation made in the Anthony Pompliano podcast, Schiff would have reaffirmed his position. Predicting that Bitcoin will soon cease to have any value to investors.
Thus, Schiff would have said that Bitcoin “only has those who are interested in speculating on its price. Once nobody wants to do it, it will lose its meaning ”. So, for him, even the expansive measures of the Federal Reserve will not be able to make people interested in Bitcoin. Leading sooner or later to his fall.
Changpeng Zhao: Bitcoin Price Won’t Drop
Changpeng Zhao is one of the most respected figures in the crypto community. Not just because of his analysis, but because of the influence his company, crypto exchange Binance, has on the crypto market.
Therefore, it is worth commenting on his agreement with Anthony Pompliano about the future of the crypto market in today’s 5 Bitcoin predictions. Well, like the founder of Morgan Creek, Zhao believes that the measures taken by the United States government will seriously affect the value of the dollar. Which will lead to its fall and the emergence of BTC as a viable alternative. Bitcoin’s price performance seems to support Zhao, one of today’s top 5 Bitcoin predictions.
Zhao has even gone as far as to suggest that Bitcoin’s market capitalization could reach several trillion dollars, due to the incentive package agreed by the United States Congress. Also ensuring that, while it has money, it will not allow a total collapse of BTC.
Dan Morehead: Bitcoin will come of age
These optimistic predictions would also be backed by the CEO of the Pantera Capital investment fund, Dan Morehead. Who opined, in a letter sent to investors of the fund, that during the financial crisis that the world will face in this 2020, Bitcoin “will come of age”, reaching historical highs in its price.
For Morehead 2020 it will be an extremely negative year for the international economy, with the risk that we will witness the first year with negative growth in the world economy. All this caused by the effects of the Coronavirus. This does not mean that Bitcoin will not witness a significant recovery in the months to come:
Bitcoin’s price may set a new record in the next twelve months. It is not going to happen overnight. My best estimate is that it will take 2-3 months for institutional investors to select problems from their current portfolio. Another 3-6 months to research new opportunities like distressed debt, special situations, crypto, etc. So when they start making investments, those markets will really start to go up. “
Tim Draper: Bitcoin will save the world
Finally, without a doubt the most optimistic of our 5 Bitcoin predictions today, is that of Tim Draper. For whom, not only will Bitcoin benefit from the financial crisis, but the cryptocurrency and its decentralized operation will be the basis for the reconstruction of the world after the Coronavirus.
This would have been said in an interview conducted on the Stories podcast. Later reaffirming his words through a message on his Twitter account, where he commented that: “When the world returns, it will be Bitcoin, not banks and governments, that will save the day.”
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.