What Will bitcoin Be Worth in 2020? By Jody Morse
It seems that bitcoin is all anyone has been talking about lately. Whether you’ve already invested in this cryptocurrency or you’re thinking about investing, you may be wondering what the long-term return rate is going to be. What will bitcoin be worth in 2020?
bitcoin Values Have Soared
In 2014, bitcoin had a value of $307. The cryptocurrency recently hit an all-time high of more than $11,700, up by 8 percent in one day, before dipping back into the $10,000 range.
It’s worth noting that bitcoin has consistently increased by 0.66 percent or more every day of 2017. If this level growth continues, investors could see huge returns on their money. But will it keep in the long-term?
What Analysts Are Saying
Many financial experts and analysts have tried to determine what will be bitcoin’s value by 2020. Analysts have come up with predictions that vary greatly.
Jameson Lopp, a BitGo software engineer, studied bitcoin’s daily value trends from 2010 to 2017. He believes that bitcoin could reach a value of $250,000 by 2020. McAfee founder John McAfee has predicted that bitcoin will hit $500,000 by 2020. He later changed his prediction to $1 million.
Other analysts believe that this estimate is too high. According to The Cointelegraph, analyst Ronnie Moas said some of the high-value predictions aren’t possible. Moas predicts that bitcoin will be worth $20,000 in 2020.
Will bitcoin be around long-term? Analyst Kay Van Peterson told CNBC that bitcoin and other cryptocurrencies aren’t just a fad. He believes that they will be around for a long time.
The Market is Unpredictable
Analysts can use past trends to try to predict what bitcoin may be worth in 2020, but it’s important to keep in mind that no one knows what its value will be for sure. The future of bitcoin and other cryptocurrencies is unpredictable. Some believe that the cryptocurrency market is highly volatile and likely to change at any time. Some analysts have even been waiting for the cryptocurrency market to crash any day now.
Although the future of bitcoin is unpredictable, many analysts believe that the outlook is good and that this cryptocurrency is worth the investment. It will be interesting to see how much bitcoin will be worth in 2020!
Jody Morse
