For one reason or the other, several members of the crypto space are outrageously confident that Bitcoin can spike significantly. These set of people are not deterred by the virtual asset's $10,272 price today. Thus, they have publicly expressed their opinion on what could possibly be Bitcoin's price before 2020's end. Let's take a look at some of these Bitcoin price predictions for 2020.
1. John McAfee Believes Bitcoin Can Hit $1 Million
First on the list, is the popular Bitcoin bull, John McAfee. Notable for his McAfee antivirus, the 73-year-old has shown a lot of interest in cryptocurrency. On April 15, 2019, McAfee said it is mathematically impossible for Bitcoin not to spike to $1 million by 2020's end. Similarly, he stated on November 29, 2017, that Bitcoin will hit $1 million else, he will eat his d*ck on National TV.
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. Veteran Trader Claims Bitcoin Can Spike to $55,000
PlanB, a cryptocurrency trader is confident that Bitcoin's halving in May 2020 can impact on the asset's price positively. In a tweet on March 26, 2019, PlanB opined that a model he has created shows that Bitcoin can surge to $55,000 after May 2020's halving. The veteran trader also remarked that Bitcoin's market capitalization could also rise to $1 trillion after May 2020.
"The model predicts a bitcoin market value of $1trn after next halving in May 2020, which translates in a bitcoin price of $55,000."https://t.co/n5P5uMCKHT— PlanB (@100trillionUSD) March 26, 2019
3. Digital Asset Research Says Bitcoin Could Hit $60,000
Digital Asset Research, a crypto research firm, recently conducted a study quite similar to PlanB's. In its research, the firm noted that the increasing demand for Bitcoin due to its scarcity and diminishing supply could spike its price. Also, the spike could be as high as $60,000 by May 2020. If the latter is the case, then Bitcoin's market cap could hit $1 trillion next year.
4. Crypto Analyst Opines Bitcoin will Surge Above $20,000 in Early 2020
Filbfilb, an analyst on the trading view platform opined on July 24, 2019, that Bitcoin will surge above its all-time high of $20,000 in early 2020. The analyst also remarked that in 2019, Bitcoin has been the best performing asset available to the masses. Nonetheless, Filbfilb outlined that Bitcoin may continue consolidating until its halving in May 2020.
5. Joe McCann, the U.S. Federal Reserve Has Guaranteed Bitcoin's Bull Run
Joe McCann, founder, and chairman of the Board of NodeSource said in a tweet on August 27, 2019, that the Fed's action guarantees Bitcoin's bull run into 2020. An image attached to McCann's tweet revealed that there is a high probability for more interest rates cuts in the coming months.
The Fed has caved and has guaranteed bitcoin's bull run well into 2020. pic.twitter.com/Z5yZRY1VpB— Joe McCann (@joemccann) August 27, 2019
6. Joe Kernen, Bitcoin Bear Says the Asset Could Surge to $55,000
While a good number of those who see Bitcoin spiking soon are generally bullish, Joe Kernen, a CNBC news anchor is bearish about it. However, Kernen surprisingly believes that Bitcoin could surge to $55,000 after its halving in May next year. Thus, like others, Kernen bases his prediction on demand and supply influencing Bitcoin's market price before 2020's end.
7. Former Goldman Sachs Analyst Says Bitcoin will Hit $100,000
Murad Mahmudov, former Goldman Sachs analyst, said in a tweet on August 13, 2019, that Bitcoin will hit $100,000 soon. In his tweet, Mahmudov wrote:
"At first glance this looks like a weak chop for the next week or so, but my intuition tells me there is steady accumulation happening at these levels. Don't try to outsmart yourself on short timeframes, zoom out & think big. In my view, BTC is going to $100K per orangecoin."
At first glance this looks like a weak chop for the next week or so, but my intuition tells me there is steady accumulation happening at these levels.— Murad Mahmudov 🚀 (@MustStopMurad) August 12, 2019
Don't try to outsmart yourself on short timeframes, zoom out & think big. In my view, BTC is going to $100K per orangecoin. pic.twitter.com/uccAgZdcXo
8. Fundstrat's Quantamental Strategist Says Bitcoin Will Spike to $36,000
Sam Doctor, Fundstrat's Quantamental Strategist after analyzing Bitcoin's mining cost and the asset's price, opined on May 10, 2018, that Bitcoin will surge to $36,000 by 2019's end. Given that the price today is still a significant distance from his prediction, it makes it a bit questionable. Nonetheless, the year is far from over, and we're yet to see how the market will turn out by the end of the year.
We believe breakeven mining costs provide a support level for $BTC, as #miners - main natural #Crypto sellers - reduce selling at low $BTCUSD price. Based on expected computing hashpower and breakeven cost growth, that could imply #Bitcoin price of $36,000 by 2019 year end. pic.twitter.com/CVwIWNz8Lr— Sam Doctor (@Samcryptoquant) May 10, 2018
9. Max Keiser Says Bitcoin Could Hit $28,000
Max Keiser, a TV host, remarked on September 1, 2019, saying Bitcoin could spike to $28,000 soon. In Keiser's opinion, Bitcoin's hashrate is moving closer to 90 exahash per second. Kieser also said: "Per protocol's hard-coded Game Theory, hash precedes price. $28,000 in play."
#Bitcoin hash approaches 90 Quintillion. Per protocol’s hard-coded Game Theory, hash precedes price. $28,000 in play.— Max Keiser, tweet poet. (@maxkeiser) September 1, 2019
10. Fran Strajnar, Bitcoin Can Spike to $200,000
Fran Strajnar, CEO of Brave New Coin, a cryptocurrency research firm while in an interview with a cryptocurrency blog, remarked that Bitcoin could hit $200,000 by January 2020. According to Strajnar, as long as people keep adopting Bitcoin, then there's nothing stopping the cryptocurrency's price from surging that high.
These are the top Bitcoin price predictions before 2020's end. What's however, worthy to note is that most of these predictions have been tied to Bitcoin's halving in May 2020. Other analysts have taken a look at the asset's historical performance, demand, supply, among other factors to ascertain what it could do in the near term. Nonetheless, it's barely a few months before 2020, and we'll see which of these forecasts comes to fruition.
Note: This Piece Of Information You Read Should Not Be Regarded As An Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.