The price of the bitcoin can jump to $20K in 2020, Bloomberg said in a report.
This can happen if the bitcoin rate actually repeats the curve from four years ago, the Bloomberganalysts say. In 2016, the value of bitcoin rebounded to its 2013 level after plummeting 60% in 2014.
The experts point out that bitcoin fell by 7% in 2018. If the 2016 trend resumes, the world’s main cryptocurrency may reach $20K in 2020.
They also note that this year’s crisis has actually helped cryptocrencies, as the pandemic accelerated the transition from cash to digital payments.
Indirectly, the interest of large investors in this asset also suggests a possible upward trend. For example, the Grayscale fund bought 25% of all bitcoins mined this year. The leading countries’ money issuance policies provoke investors to look for alternatives to currency, such as gold or the bitcoin.