Bitcoin refers to cryptocurrency that first surfaced back in early 2009. Since then it has caught the attention of financial aficionados and cut throat business men. While the financial market struggles to get back on its feet following the corona virus pandemic, according to some business hulks this is the perfect time for the crypto-gold equivalent-currency to shine.

While the world banks are pumping in cash to put the economy back on track, considering a threatening wave of inflation, crypto –fanatics can have a moment of relief since the future of Bitcoin seems possibly brighter than the annual solar eclipse.

Considering its finite supply and programmatically designed algorithm which allows the Bitcoin supply to reduce as it reaches its maximum supply makes it the probably the safest if not the trickiest bet of all times. Now is probably a great time to invest in cryptocurrency, especially bitcoin or otherwise there might be a possible chance of a slow and noxious corrosion of your currency in front on the infamous and unbeatable dollar.

Carl Kruse advocates for Bitcoin , especially while the novel COVID-19 wreaks havoc all over the financial forte. Following the third halving of the bitcoin that happened this past month, it is advisable to probably invest in the crypto-currency.

Financial enthusiasts, giants and aficionado’s suggest some interesting and astounding price predictions. Let’s hear what they have to say.

 

Predictions by Bitcoin aficionado’s for 2020

Tom Lee

Tom Lee who is the ex-Chief Equity Strategist of the famous JP Morgan, The head of research and Co-founder of Fundstrat believes that following the Bitcoin halving that was observed in May 2020, Bitcoin can possibly deliver a 100% returns to its investors. While talking to the finance head at Yahoo, the business giant predicted a possible all-time high hit of around $27,000 by late summer 2020.

Max Keiser

The American financial broadcaster who has also been a loyal enthusiast of the Bitcoin currency has predicted a highly optimistic observation stating that the BTC might reach an astounding $4, 00,000 regardless of the strain caused by the Novel COVID-19 on the financial market. This comes in at a very crucial time for the central banking system, which is trying hard to stay afloat following the havoc wreaked by the global health emergency.

Bobby Lee

After following his early predictions, the CEO of China’s first Bitcoin cryptocurrency has now predicted an interesting observation. According to the Co-founder of BTCC which is a Bitcoin exchange organization based in Hong Kong, the bitcoin would reach a maximum of $333,000 following late 2020 and early 2021. He also insisted that the value might drop back to $41,000 later in 2023. Bobby lee also believes that the bitcoin value might actually exceed the value of physical gold in the recent years, especially following the financial stress caused by the pandemic.

John McAfee

The software tech giant has predicted some really interesting increase in the value of the bitcoin following the end of 2020. The well-established and highly successful business aficionado has been an avid supporter of the Bitcoin cryptocurrency in the past. He has predicted a mind blowing increase in the value of around 1 million USD by the end of 2020. In the past he also been known to have said that the fiat currency might actually diminish in the coming years and the entire world would actually shift to cryptocurrency, considering Bitcoin safety and value (more info on carlkruse.org/preserving-bitcoin-code-at-svalbard/). John McAfee also predicted a 10 times increase in altcoin currencies like Apollo and MTC.

Chamath Palihapitiya

The Canadian-American founder of Social capital and the co-owner of the Golden state warriors have predicted some really interesting observations following the third halving that surfaced in May, 2020. Chamath Palihapitiya has been an avid supporter an investor in the bitcoin business. His first investment in 2012 led him to include bitcoin in his private account, hedge fund and general fund and naturally now he owns 5% of all Bitcoin circulation, all over the world. If this isn’t convincing enough that will be?

The founder of Social Capital has predicted that the Bitcoin value would increase to up to a $100,000 within the next 4 years. He also stated that the price might actually reach to an astounding $1 million by the end of 2037. The business giant has been a great supporter of the crypto currency and has compared its value to the value of gold in the past. Following a possible corrosion of the financial stock market, it only seems interesting enough to invest in the Bitcoin business.

Wences Casares

The Argentinian fin-tech Silicon Valley entrepreneur has promising predictions for the future of cryptocurrency, especially Bitcoin. The tech hulk who bought his first bitcoins in the early 2011, following a great financial instability in Argentina is now the CEO and Founder of Xapo and one of the board members of PayPal.

Xapo is Wances’s brain child, and a bitcoin wallet startup that has achieved interesting milestones in the past. According to Wences the bitcoin value will hit an estimated $1 million mark up by the end of 2027.  He is positive for the future of bitcoin and has been reported to have said that the value might just keep on increasing especially following a financial block caused by the pandemic.

 

The verdict

Cryptocurrency enthusiasts and business aficionados have predicted major positive changes at the Bitcoin forefront, by the end of 2020. While a lot of these predictions come in at a time of uncertainty, one thing’s for sure, that there is a high possibility of cryptocurrency being introduced as the new mode of finances globally. The value of bitcoin is being measured and compared to that of gold at the moment and is predicted to reach its maximum as compared to the past in the coming years. The abovementioned predictions and observations come in handy particularly during the financial crisis following the pandemic.

It has now become more evident than before that bitcoin might be the only creative solution to help reroute the financial market back to its original grace