ADVFN Founder and Financial Analyst predicts that Bitcoin will grow in 2020

The financial analyst predicts that Bitcoin will grow in 2020

Clem Chambers, the founder of ADFN, spoken with Evening Standard U.K. on the cryptocurrency market, blockchain technology and Bitcoin (BTC). He said that in the future, Bitcoin it will start to grow and reach new highs.

Second Mr. Chambers, in 2020 it expects Bitcoin "boom" again from blockchain technology It will be adopted by many companies all over the world and will be embraced by different companies. At the same time, he believes that Bitcoin will also define the next 25 years when the Internet has revolutionized the last 25 years.

It is important to remember it Bitcoin did not have a good year in 2018. After growing exponentially in 2017, 2018 was a year to forget for Bitcoin in terms of price performance. Now analysts are wondering and predicting what will happen in the future of the virtual currency market.

According to the cryptocurrency analyst Flib Flib, Bitcoin could start its run in mid-2019 and reach prices up to $ 290,000 in mid-2022. However, he believes there will be a floor in 2019 of $ 2,500 and $ 3,100.

https://twitter.com/filbfilb/status/1078316170493734918

He explained that degressive returns do not apply if there is an increase in demand in an 'activity with a limited supply as Bitcoin. Moreover, Murad Mahmudov, another recognized Bitcoin analyst he said that Bitcoin could reach another historic high in 2020.

The market seems to be very bullish for 2019 and 2020. In the near future, there are some things that could be catalysed by a new rush to the virtual currency market. The Intercontinental exchange (ICE) is about to launch Bakkt on the market and allow the institutions to enter the space. This would generate greater buying pressure in Bitcoin and other virtual currencies on the market.

Furthermore, the United States Securities and Exchange Commission (SEC) could approve the first Bitcoin ETF in February 2018. If approved, investors would be able to enter the market and also increase the purchasing pressure in the most popular digital assets on the market.

At the time of writing, Bitcoin it is trading around $ 3,871 and has a market capitalization of $ 67.62 billion.