What will the Bitcoin price be in 2020? Will we see BTC achieve an unstoppable bull run or will it crash to unforeseen lows? We have gathered 9 Bitcoin price predictions from cryptocurrency experts that will hopefully shed some light on what industry insiders are expecting to see in 2020.
1. John McAfee: $1 million
John McAfee has become a well-known name in the crypto sphere, and is quickly building a reputation for making bold statements and even bolder gestures (see his 2020 presidential bid) . In keeping with this, McAfee predicts that by the end of 2020 Bitcoin will be worth a staggering $1 million.
“I now predict Bitcoin at $1 million by the end of 2020,” he says. So confident is he in his prediction that McAfee has reaffirmed his promise to “eat my dick if wrong.”
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD
— John McAfee (@officialmcafee) November 29, 2017
2. Thomas Lee: $91,000
Thomas Lee predicts that by March 2020, Bitcoin will be worth $91,000. However, it’s important to note here that this prediction was made in March 2018 which, in the crypto sphere, might as well be a lifetime. As a result, it’s entirely possible that Thomas Lee has since adjusted his forecast.
Read more: Is Bitcoin dead? 8 reasons why it is NOT
According to a Forbes article, Fundstrat’s Thomas Lee based his prediction on a chart that shows Bitcoin’s performance after past dips. An average of the percentage after each dip was calculated and then used to arrive at the 2020 prediction.
The article explains that because the chart uses a logarithmic scale, Bitcoin’s highs and lows are less defined as they would be if the chart used a linear basis.
Read more: 8 long-term Bitcoin price predictions by crypto experts
3. Bobby Lee: rally to start in late 2020
Bobby Lee has predicted that Bitcoin will bottom out at $2,500 sometime in Januay of 2019 which will set the stage for a bull run in late 2020. He predicts that by December 2021, Bitcoin will peak at $333,000 before crashing once more to $41,000 in January 2023.
If history repeats perfectly, then the current bear market for #Bitcoin would bottom out at $2,500 next month, in Jan 2019.
And then the next rally would start in late 2020, peak out in Dec 2021 at $333,000, and then crash back down to $41,000 in Jan 2023.
Something like that?🙂 https://t.co/M8ljIVnt73
— Bobby Lee (@bobbyclee) December 7, 2018
Bobby Lee then made a poll asking Twitter users if they think his prediction is accurate. Based on the results, 59% agree with his forecast.
4. Murad Mahmudov: Bitcoin will achieve a new all time high in 2020, Tone Vays: there is a 40% chance that this happens.
Murad Mahmudov, host of ‘On The Record’, believes that Bitcoin will hit a new all time high sometime in late 2020. Prominent crypto personality and analyst Tone Vays generally agreed in an interview with this statement, adding that there is a 40% chance of seeing a new all time high in 2020. This percentage increases to 45% for 2021.