$400,000 or $2,100? What will happen to bitcoin price according to analysts:
Roger Ver: bitcoin price will not go up in 2020
Former Bitcoin.com CEO, Roger Ver said that we shouldn’t expect bitcoin price going up after halving. The network is overloaded, and after reward reduction the speed of processing transactions will go down, which will decrease demand for bitcoin, Ver thinks.
“There is a very real possibility the price of Bitcoin Core does not go up after halving.
For the first time, the blocks are full and there is no room for additional commerce to take place on chain”, — the businessman wrote in his Twitter account.
According to Ver, Bitcoin Cash has better prospectives, because it is more scalable.
Bitcoin may go down in price by 70%
Once again, halving is to blame. Specialists of CoinMetrics came to a conclusion that bitcoin can follow Litecoin’s trend.
Before the second halving which took place in August, 2019, the price of LTC grew by 50% in 3 months and reached $146. After reward reduction altcoin lost 70% of its value and its price now is $40.
According to the analysts, the reason for that the market had already put in the price of LTC the expected rate rise after halving. Similar situation can happen to bitcoin. If BTC will not go up, miners will have to sell off their coins, specialists in CoinMetrics think.
Bitcoin’s price will be over $400K by 2023
This is what trader Benjamin Cowen thinks. He showed analysis of crypto market capitalization applying logarithmic regression.
Based on conservative evaluation crypto can reach $17 trillion market capitalization by 2023, which means bitcoin’s price going up to $417 K. Cowen finds the most bullish prediction would be for total market capitalization to reach $32 trillion by 2023 — in this case BTC will cost around $1,2 million.