From outrageous price predictions to the future of altcoins, crypto analysts and industry leaders are placing their bets on the fate of digital assets in 2020.
Here are seven forecasts predicting some major shifts in the year ahead.
1. Twelve months ago, Bob Loukas, a Bitcoin trader and analyst, accurately predicted what the price of BTC would be at the end of 2019. Now, he thinks Bitcoin is headed for its all-time high near $20,000 by the end of 2020.
In the absolute bear case, after a 6-month downtrend, expect a counter-trend move towards $10k-$11k before another big downtrend. If you think you will FOMO buy $10k then buy it now instead.
— Bob Loukas (@BobLoukas) December 26, 2019
2. Mike Novogratz, the CEO of crypto investment giant Galaxy Digital, is also bullish on BTC, saying he expects the king coin to end the new year above $12,000.
2020 prediction #1. @realDonaldTrump loses by more than 10mm votes. #2 $btc finishes over 12k. #3. @USAWrestling wins 3 golds in Tokyo (MF). #4 @tomhanks wins the Oscar for Mr Rodgers. #5 @reform and it’s partners help shrink the ‘supervised’ population from 4.5mm to 4mm or <
— Michael Novogratz (@novogratz) December 28, 2019
3. Changpeng Zhao, the founder and CEO of Binance, thinks numerous governments around the world will experiment with blockchain and their own digital assets.
Says Zhao in an interview with Global Coin Research,
“I think in 2020, we will see different experiments tried by many different governments around the globe for adoption. Some will work, some may not, but overall, they will have a tremendously positive effect for crypto adoption.”
4. Ripple CEO Brad Garlinghouse predicts that 10 of the 20 largest banks on the globe will begin to “actively hold and trade digital assets in 2020” as fiat currencies go digital.
He’s also predicting that at least one G20 currency becomes “fully digitized” by 2021.
5. Decrypt columnist Matt Hussey echoed Zhao and Garlinghouse’s sentiments, predicting numerous nation states will roll out their own digital currencies this year.
6. Jimmy Song, a Bitcoin educator, thinks BTC dominance will be at more than 75% by the end of the year. He also predicts “lots of altcoin delistings.”
2020 Predictions Part 1:
* Bitcoin dominance will be 75%+ at end of year
* Taproot will be activated without much controversy
* Bitcoin price will have a bottom to top difference of at least 100%
* Halving will be the big narrative
— Jimmy Song (송재준) (@jimmysong) December 30, 2019
2020 Predictions Part 2:
* Lots of altcoin delistings
* IEOs will lose steam
* Some coin will be 51% attacked and cause an exchange to lose lots of money. Coin will go down less than 20%.
* More coins will change to be merge mined with Bitcoin.
— Jimmy Song (송재준) (@jimmysong) December 31, 2019
7. And last but not least, John McAfee now has only one year left to see whether Bitcoin reaches his sky-is-the-limit, “dick-on-the-line” forecast.
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