Market experts believe that the price of Bitcoin will continue to rise long after the 2020 cut in half. According to Goldman Sachs’ former fund manager, Raoul Pal, the cryptocurrency could be worth up to $ 1 million in the coming years.
Like Raoul, other experts are predicting Bitcoin’s price after the cryptocurrency premium has been reduced. Estimates range from $ 250,000 and $ 1 million, in a scenario of full appreciation of Bitcoin.
The halving occurs in 13 days and should halve the reward in the extraction process, which is currently 12.5 (BTC) for each extracted block. Let’s evaluate four forecasts for the price of Bitcoin after halving 2020:
Can Bitcoin be worth a million dollars after halving?
The Bitcoin price can hit a million dollars after halving, according to expert Raoul Pal. Goldman Sachs’ former fund manager predicts cryptocurrency in an environment somewhat distant from the 2020 halving.
The halving could be scheduled for May 11th Raise the price of Bitcoin by up to a million dollars, with investors using the cryptocurrency as a store of value given the current difficulty of recovery in the traditional financial market.
However, Raoul predicts that the cryptocurrency will reach $ 1 million in the next three years, before the 2024 cut in half. The expert also comments on this Bitcoin’s capitalization could reach $ 10 trillion.
The executive also mentions gold as another asset that will play an important role in the financial market. To believe in this forecast, explains Raoul has invested 25% of its capital in precious metals and another 25% in Bitcoinin addition to other investments.
The cryptocurrency is quoted at $ 250,000
While Raoul Pal believes Bitcoin’s price is a million dollars, Tim Draper has a more modest forecast and is betting that the cryptocurrency should reach $ 250,000.
The billionaire is betting that the price of Bitcoin will reach this amount in 2022, two years after the halving, which reduces the cryptocurrency mining reward to 6.25 (BTC).
Draper, who owns no less than 40,000 Bitcoin units, released the forecast in late 2018, two years before the 2020 cut in half. The executive proposes that an expansion of the cryptocurrency market should consolidate this forecast.
Analysts who set the Bitcoin price after halving in 2012 and 2016 advise buying crypto
Price in US $ 300 thousand in three months
Financial expert Preston Pysh also predicted how much Bitcoin could come after halving 2020. The cryptocurrency is expected to be worth up to $ 300,000 in the next two to three months.
The creator of the digital Warren Buffett teaching platform “Buffett’s Books” does a related to the amount of electricity spent on Bitcoin mining to explain the $ 300,000 forecast.
For Pysh, the price of Bitcoin is up to $ 300,000 from mining activities. In addition to mentioning this value, the expert comments that the range of $ 80 to $ 100,000 is the “orbital level” of the cryptocurrency price after halving.
Elliot Waves brings the price to $ 333 million
In a scenario of all optimistic predictions about the price of Bitcoin, the Ross Ulbricht guess is the most surprising. The expert certifies that every unit of cryptocurrency It can be worth $ 333 million.
This forecast is supported by the Elliot curve theory, in which the market capitalization of Bitcoin would be achieved $ 7 trillion. Using a chart to illustrate the study, the manager compares the strength of the cryptocurrency’s ratings after prices have dropped to $ 1,000.
“If wave II lowers prices to $ 1,000 and wave III is the same size as wave I, Wave III will raise prices to $ 333 million. Assuming 21 million bitcoins, this corresponds to a market value of $ 7 trillion. ”