bitcoin price predicitions

Bitcoin Price Predictions & Forecast for 2020

With how rapidly and unpredictably the bitcoin market is, the prediction for bitcoin for going up or down is anybody's guess. However, a lot of individuals in the cryptosphere like to guess how large the costs of this valuable coins with grow.

While there is no method of knowing what’s going to occur with bitcoin in the next years, it can always be fun to speculate. Bearing that in mind, I do not want to predict the future of bitcoin and be wrong. There are three different situations that could happen with this digital currency in the  next few years.  While looking at future predictions, we will also examine future predictions of this precious coin.

The predictions on bitcoin vary a lot in price. By 2020, some state 1 BTC will be worth $15,000 while even some saying $100,000. Some of these specialists have used historical data to come to these forecasts,. Even with all these theories, the cryptocurrency marketplace remains amazingly volatile.

 

1st Forecast Prediction Bitcoin -$100,000

bitcoin price future 100,000

In order for bitcoin to reach $100,000 it needs to reach 3 percent of the total global money supply. Currently all of the bitcoins are worth more than 200 billion.  To put that in lame man’s term, take the half the value of Amazon and that is the total worth of bitcoin today.  We have a long ways off before that 3 percent is achieved. 

What has to happen for bitcoin to reach this goal of 3 percent?  It would have to more user friendly.  For us that are reading this article, it seems very to trade but not to the average person.  Bitcoin would have to be as simple as inserting or swiping a credit card.  Also the traffic capacity of the blockchain system would to need to improve significantly.  Today, the bitcoin system is only capable of processing around 100 trades per minute.  This is less than 2 percent of the total global exchange among tangible currencies. 

Could this occur by 2020?  Probably not.. but here are a few bitcoin future predictions 

Tom Lee and Fundstrat used an average of the percentage gained in price after each dip to arrive at the 2020 figure.

2nd Forecast of Bitcoin Prediction -$50,000 = 1 Kilo Gold

When I asked a recent person about bitcoin.  They didn’t compare to it to money but to gold.  They said I was wrong in describing it as money.  After all, a limited amount of bitcoins are being produced.  With this statement you can put bitcoin as a safe haven like physical gold bar.  Wouldn’t it be nice to hold a kilo of gold and equal it to your 1 bitcoin!

Let’s say bit coin accomplishes one-tenth of their popularity as gold for a wealth storage. That would make bitcoins value of approximately $1.2 trillion. This would  roughly equal one kilo of gold at $49,956 each coin.

 

Ronnie Moas has compared the popularity and wealth of cryptocurrencies to that of the dot-com boom.

3rd Bitcoin Prediction -$20,000 = Brand New Car

brand new car equals bitcoin

This bitcoin price forecast doesn’t seem unrealistic like the other predictions.  It is kinda shocking that bitcoin was worth this point at one.  Will it go back to being worth the price of a brand new car?  The image is of a Toyota Corolla which at it’s based price is around $20,000

 

Since Bitcoin is not widely accepted as a form of payment it is reasonable to presume that bitcoin could easily reach $20,000 by 2020 or 2021.  What is the first word that comes to your mind with your think of digital currency.  That is easy – bitcoin.  With bitcoin being so popular and well known.  This predication of $20,000 is most likely going to happen.  It has happen before and will probably will happen again in the year 2020.  

Could Bitcoin Crash in 2020?

What are some  possible factors that Bitcoin could crash. The two biggest ones are bad press and security issues. While bad press might persuade some people to turn their backs on Bitcoin, the lack of effective security might harm the way that this coin is perceived.

With that said it is very unlikely that bitcoin will become worthless.  At worth it could maybe decrease to $5,000 which is around half what the current value is.  No one really knows what the future holds for bitcoin, but is always fun to predict your thoughts.

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