Bitcoin price predictions are always a point of contention. They have ranged from mind-blowing seven-figure surges to more sedate extrapolations of current market conditions. One industry executive thinks it is quite plausible for BTC to be $50k by the end of 2020 and here’s why.
Speaking to Bloomberg, Nexo founder Antoni Trenchev said that company analysts have crunched the numbers and a price prediction of $50,000 by the end of 2020 is highly plausible. Nexo is a banking institution providing services for the blockchain and crypto space.
When asked about general adoption Antoni reconfirmed the notion that bitcoin has become the digital gold and people are increasingly holding on to it rather than using it as a payment method.
Bitcoin Halving
The first and most obvious reason for a big rally towards the end of this year is the bitcoin halving. Trenchev added that the asset is one of few that delivers systematic asymmetric returns and the only thing that has been anything like this was the rise of the US dollar against the Reichsmark in the 1920s.
Stock to flow and other popular models using previous market cycles all signal a bull run following the halving in five months’ time.
Geopolitics
While not mentioned in the interview above, escalating tensions between the US and the Middle East in 2020 would result in a major flow out of fiat and into safe-haven assets.
This was witnessed yesterday following the US airstrike that killed top Iranian military personnel. Bitcoin surged almost 8% to top out at $7,400 as the news broke.
Gold and oil also rallied at the same time proving that BTC is, in fact, a safe haven asset and the monetary flows into them are correlated. Of course, detractors such as Peter Schiff had other ideas but, in his typically weak argument, he failed to acknowledge that investors also buy gold for speculation that its price will rise.
Heightened geopolitical risk has resulted in both gold and Bitcoin moving higher, but for different reasons. #Gold is being bought by investors as a safe haven. #Bitcoin is being bought by speculators betting that investors will buy it as a safe haven.
— Peter Schiff (@PeterSchiff) January 3, 2020
Economics
The economies of the world are in contraction which puts pressure on banks and fiat-based financial systems. The FED has increased its repo agreements by printing more dollars and this is unlikely to change in 2020.
According to the WSJ, the monetary madness has already started this year with a further $57 billion being injected into financial markets.
Economic pressures also push investors into safe-haven assets as fears of currency devaluations or capital controls escalate. Vast swathes of South America are in dire straits economically and bitcoin, which climbed 85% last year, has been the solution for many of them.
These narratives are not going away which is why a $50k BTC by the end of 2020 is definitely plausible.
Will bitcoin surge to a new ATH this year? Add your thoughts below.
Images via Shutterstock, Twitter: @PeterSchiff The post appeared first on Bitcoinist.com. origin »
The market has witnessed intense liquidation activity, with the highest concentration occurring between $101,500 and $99,800.
Bitcoin’s current distribution of holders provides insights intThe post Bitcoin's market uncertainty: Key factors driving BTC's movements appeared first on AMBCrypto.
The cryptocurrency market was bullish in 2024. Bitcoin, the leading cryptocurrency by market cap, added over 140% to its value last year, outperforming other major assets, including Gold (26%) and S&P 500 (23%).
Bitcoin (BTC) has shown a swift recovery, climbing back above $95,000 after experiencing a notable dip below this level just a day prior. This price rebound has reignited discussions among analysts about the underlying market dynamics and potential future trends.
Bitcoin ($BTC) continues to demonstrate remarkable strength, holding firm above key support levels and maintaining its bullish structure. With unrealized losses at historical lows, the market remains largely stress-free, creating an atmosphere that feels like the calm before a significant move.
Bitcoin showed unpredictable price action yesterday, plummeting to a low of $89,100 before staging a rapid recovery to reclaim the $96,000 mark. This sharp move is often seen as a liquidity sweep orchestrated by market makers to clear out leveraged positions, a tactic that fuels short-term volatility but strengthens the market’s long-term structure. Related Reading: […]
Bitcoin is trading above $95,000 after a rollercoaster Monday that saw the market plunge and recover in rapid succession. The price dropped over 6%, setting a fresh low around $89,000, before staging a swift rebound that propelled it back to $96,000 within hours.
Bitcoin’s pullback to $90,000 caused quite a stir in the market. Although its recovery to above $96,000 on Jan. 14 offered some relief, many on-chain indicators revealed underlying stress in market health.
Bitcoin, Ethereum, XRP led the recent market crash following U. S. inflation fears.
Options market sentiment was cautiously optimistic ahead of Donald Trump's presidential inauguration.
Bitcoin‘s sharp drop following its surge to a new all-time high led to significant challenges for investors and traders, especially BTC’s short-term holders. However, with BTC regaining its upside momentum, the market might become favorable for institutional and retail investors in the upcoming days.
Analysts from the market intelligence company CryptoQuant note that current patterns in Bitcoin (BTC) metrics indicate possible changes in market dynamics. Bitcoin Price Faces Short-Term Volatility After a period of steady decline, spot exchange reserves have experienced a notable uptick, reflecting an inflow of 20,000 BTC.
The cryptocurrency market experienced a bullish rally on December 17, with Bitcoin (BTC) crossing an all-time high of $107,700. The global crypto market cap increased by 1% to reach $3. 72 trillion, while trading volume soared 34% to $211 billion, signaling heightened investor activity.
Bitcoin shrank under the $100,000 psychological level after hitting a new all-time high yesterday; the Bitcoin market was liquidated to more than half of a billion dollars just in a day. The crypto market has seen massive market liquidations of…
The cryptocurrency market is buzzing with optimism as Bitcoin (BTC) consolidates near $95,000, and altcoins like Tron (TRX) and Reserve Rights (RSR) post massive gains. With a global market capitalization climbing 1% to $3.
The crypto market has soared to a $3. 4 trillion value as Bitcoin reaches new peaks. Bitcoin’s huge surge has naturally propelled most other cryptocurrencies upward as well. For example, NEAR has enjoyed a 21% price increase over the last week, sustaining robust market stability.
Bitcoin retail numbers have dropped significantly after the recent price retracement this cycle. On-chain factors show the market is still in a bull phase; however, major indices differ from previous cycles.
The cryptocurrency market has soared, reaching a new pinnacle with a total market capitalization of $3. 13 trillion, establishing the sector as a formidable economic force. This surge reflects in the growing appeal of Bitcoin ETFs, which have seen unprecedented inflows, while Ethereum (ETH) sets its sights on managing $10 billion in assets.
The cryptocurrency market experiences positive sentiments as Bitcoin nears $100K after topping $97K. Amidst the bullish trends, Bitcoin Cash (BCH) surpassed the $10 billion market cap after significant 24-hour surges.
IBIT options went live Tuesday in a first, a move that market participants widely expect to draw more institutional interest in bitcoin (BTC). Here’s how they could impact the market.
The general cryptocurrency market has seen notable upward momentum in the past few weeks, with Bitcoin, the largest digital asset, leading the market once more toward what several seasoned crypto analysts believe to be one of the biggest bull runs ever.
Let’s face it, cryptocurrency is no longer just a buzzword—it’s here to stay. From Bitcoin to Ethereum, the market has proven that digital currencies and decentralized technologies are shaping the future.
Bitcoin recent price movement of continuous uptrend has drawn the attention of market participants and analysts as it edges closer to creating a new all-time high, blasting through critical resistance levels.
As the market faces one of its most volatile weeks—amid the U.S. election and the Federal Open Market Committee (FOMC) meeting—Bitcoin appears primed for a lasting rally. Historically, major bull runs have followed post-election periods, and analysts are optimistic about Bitcoin’s potential, forecasting it could hit $100,000 by year’s end, […]
Institutional interest in Bitcoin ETFs remains strong, potentially stabilizing the market amid geopolitical uncertainties and economic shifts.
The post BlackRock Bitcoin ETF records $329 million net inflows despite market retreat appeared first on Crypto Briefing.
As the original digital currency, Bitcoin remains one of the most popular Cryptos to trade. Due to this popularity, its price changes frequently, often having a greater impact on the wider Crypto market.
Bitcoin's growing dominance underscores its role as a safer investment amid market volatility, potentially sidelining altcoins further.
The post Bitcoin’s dominance over altcoins grows amid market uncertainty appeared first on Crypto Briefing.
Bitcoin drops below $57K due to major institutional sell-offs and market pressure. Short-term holders face unrealized losses, could trigger market volatility if they decide to cut their losses. $51K is a crucial support level and long-term investors might see this as a buying opportunity.
Short-term Bitcoin holders face mounting losses, potentially leading to increased market volatility and signaling a bearish trend transition.
The post Bitcoin short-term holders underwater as market pressure mounts – Glassnode appeared first on Crypto Briefing.
The crypto market has faced a notable dip lately. At publication, the market cap has fallen by 1. 30% to $2. 04 trillion, while trading volume has plummeted by 40. 36% to $36. 02 billion. Bitcoin (BTC) trades at $58,229.
Quick Take According to a recent analysis by CryptoSlate, the current Bitcoin market is behaving in a strikingly similar pattern to that of 2019. Since reaching an all-time high of approximately $73,000 in March, Bitcoin has been fluctuating mostly within the $60,000 range, reminiscent of previous periods of market consolidation.
As the cryptocurrency market faces yet another wave of volatility, both Bitcoin and Ethereum have seen their recent gains erode, leaving investors on edge. Amidst this uncertainty, many are shifting their focus to promising new ventures, with BlockDAG capturing significant attention.
The cryptocurrency market is witnessing a significant resurgence, with Bitcoin climbing back to $63. 3K. This rally began almost immediately after the near-assassination of former President Trump on Saturday, and the bullish momentum has shown no signs of slowing down.
Bitcoin shows signs of stabilization after the recent price drop, with market data indicating a potential local bottom.
The post Bitcoin bottom is in, but market news still pose threat: Bitfinex appeared first on Crypto Briefing.
The cryptocurrency market is currently facing pressure due to a steep drop in Bitcoin prices. Yet, hope is still alive. Many are awaiting the next bull run, expected to elevate the market once again.
Bitcoin's price remained over $65,000 amid a decline in retail investor activity.
Current on-chain data suggested a lack of short-term holder activity, indicating potential for future market moThe post The silent Bitcoin market: What's happening behind the scenes at $65K? appeared first on AMBCrypto.
Despite the aggressive market correction, with Bitcoin’s (BTC) value dropping to the lower end of the $65,000 zone and Ethereum (ETH) trading around $3,500, key market metrics remain optimistic. Notably, Bitcoin is trading at $65,217 at the reporting time, down…
Bitcoin (BTC) touched its minimum bullish target of $70,100 before facing rejection. Amidst the uncertainty surrounding the upcoming release of Consumer Price Index (CPI), inflation rates, and the Federal Open Market Committee (FOMC) decision, the market is bracing for potential volatility.
Quick Take Recent data from Farside reveals that 8 out of the top 30 publicly traded Bitcoin miners have achieved market capitalizations exceeding $1 billion. Marathon Digital Holdings leads the pack with a market cap of $5.
Bitcoin’s Funding Rates on DyDx and Deribit have turned positive.
The coin’s “flat” Open Interest signals that market participants are unsure of its short-term price direction.
BitcoThe post A look at Bitcoin's rally to $63K and the effect on market demand appeared first on AMBCrypto.
The cryptocurrency market has been struggling lately, with Bitcoin, Ethereum, and many other major, mid-cap, and low-cap currencies experiencing declines or only minor gains. This downturn can be attributed to several factors, including negative sentiment towards the top cryptocurrencies and low trading volumes across the board.
Bitcoin’s trading pattern lately reveals a consistent sideways movement, with fluctuations between $60,000 and $72,000. This trend, as highlighted by top cryptocurrency analyst Doctor Profit via a tweet on X, mirrors historical market behaviors that have typically preceded significant price increases.
Bitcoin (BTC) has again taken the spotlight in the crypto market, rising above $66,000 as a confirmation of its price rebound following the market-wide crash in the past week. However, while Bitcoin has restored optimism in investors, we see negative price action on Toncoin (TON), a notable market gainer in […]
In the midst of the dramatic changes that have occurred in the cryptocurrency space after the Bitcoin halving event, Bitfinex provides a perceptive analysis that reassures investors that the market dynamics of BTC have remained positive in the post-halving period.
As offshore markets diversify, Binance’s Bitcoin market share has declined to 55%, while Bybit emerged as a frontrunner with a surge from 2% to 9. 3% Binance‘s dominance in Bitcoin trading outside the U.
As the Bitcoin (BTC) Halving event concluded for the fourth time, the cryptocurrency market witnessed notable changes in key metrics. These developments have led Charles Edwards, a market expert and founder of Capriole Invest, to issue bold predictions that hint at a paradigm shift in the BTC market.
Bitcoin began to gain wider attention in the October 2023 rally when it became more clear that so-called “spot” ETFs would be approved and launched soon. The launch of 11 ETFs on Jan. 11 was a milestone for the digital asset world and broke ETF records.
Several major banks across the United States are currently experiencing deposit delays, according to a report from CNN on Nov. 3. That report suggests that Bank of America, Chase Bank, US Bank, Truist Bank, and Wells Fargo are among the banks that have experienced issues.
Despite some concerns within the web3 community about the Federal Reserve’s understanding of the evolving digital landscape, recent evidence suggests that these fears may be unfounded. The Fed has been diligently studying the intricacies of the web3 ecosystem and the technology underpinning it.
The debt ceiling is unlikely to hold as the government faces increased pressure from interest rate payments, a potential catalyst for Bitcoin and cryptocurrencies.
As the highly anticipated US Consumer Price Index (CPI) data for June is set to be released today at 8:30 am EST, the Bitcoin (BTC) market finds itself at a crucial crossroads. With inflation concerns lingering and the Federal Reserve’s next moves under scrutiny, market participants eagerly await the impact of the CPI figures on BTC’s price trajectory.