We have put together some fresh forecasts for 2020:
Bitcoin will grow to $1 million by 2040
Analyst Benjamin Cohen suggested a more realistic date when bitcoin would cost $1 million. He extended his model of logarithmic regression and it showed that BTC would cost $1 by 2038–2040.
The expert points out that every next cycle of bitcoin growth requires more time. It took 2,5 and 4 years for the first two, the next will take around 5,5 years, and by its end bitcoin would cost $100 thousand. The fourth cycle will last for 7 years and will finish around 2030 when the price of bitcoin would be $500 thousand.
If the model continues to work, by the end of the fifth cycle which will last for 8,5 years, BTC will reach $1 million.
Opinion: bitcoin will grow up to $8,300 by February\
Popular twitter analyst Benjamin Blunt suggested that bitcoin’s price will grow up to $8,300 by the end of January-beginning of February 2020. The trader an inverse head and shoulders bottoming pattern on a daily BTC/USD graph the figure, after which the price should go up to the specified level.
Analyst filbfilb has a similar opinion, but his goal is more conservative: $7,800 by the beginning of the next month.
We will see bitcoin costing $25,00 in 2021
Trader dave the wave thinks. He confirmed his December forecast according to which bitcoin will hit over $20,000 by the beginning of 2021, after which it will go down for a few months, and by the end of 2022 will be over $100,000.
When making this forecast the analyst used Elliot wave theory, according to which bitcoin’s graph is currently in wave (2).