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At the end of October of this year, in an article called, "FxWirePro: wait for the value of Bitcoin to decrease by more than 40 percent by 2020", available at https://www.econotimes.com/FxWirePro-Expect-Bitcoins-value-to-decline-more-than-40-percent-by-2020-1449635 we suggested that the price of Bitcoin will probably decrease by 40 percentage from current rate of $ 6380 per coin up to $ 3800 per coin area.
We expected the current economic environment, where fixed income assets are gradually becoming more attractive with a higher return at a time when acceptability and fungibility are two of the main problems faced by Bitcoin, it would be harmful for the price of Bitcoin.
Our forecasts came true with the BTC / USD traded at $ 3500 per currency. But it was much earlier than we expected. On the basis of price action, our model suggests that the bearish sentiment surrounding Bitcoin is much stronger than we originally anticipated. Thus, a further fall in price is likely.
New forecasts:
Based on internal models, we expect the price of Bitcoin to lose another 45% by the end of the decade and reach a minimum of $ 2,000 per currency.
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