Another day is here, and another bullish Bitcoin price-related prediction pops up, so we report it, just like we’ve been doing for quite a while now.
This year seems to be filled with crypto related predictions and the ones revolving around BTC seem to be really positive which means that the overall sentiment floating over the market is that brighter days are coming.
BTC could hit $55,000 in one or two years
The Daily Hodl mentioned a crypto analyst who goes by the name of Plan B and this person just released a Medium post which describes a new prediction model. This model claims that BTC will be hitting $55k in 2020 or 2021.
This model is analyzing the upcoming Bitcoin halving which involves the fact that the block reward that’s given to miners will be cut in half.
This will result in slowing the production of Bitcoin’s finite supply which is currently around 21 million BTC.
These halvings have reportedly triggered a positive impact so far and that’s why Plan B sees a bright future ahead.
“Bitcoin has unforgeable costliness, because it costs a lot of electricity to produce new bitcoins. Producing bitcoins cannot be easily faked,” he writes in his post on Medium.
Head over to Medium and read his complete post to understand the model. Anyway, the main conclusion of the post:
“The model predicts a bitcoin market value of $1trn after next halving in May 2020, which translates in a bitcoin price of $55,000.”
Other bullish BTC predictions
As e said, there are a lot of other bullish BTC predictions out these days. The crypto space has been literally flooded with positive Bitcoin-related predictions in 2019.
Oracle Times reported that during an interview with Morgan Creek Digital founder Anthony Pompliano, Nike Novogratz said that it’s only a matter of time before the big players such as Goldman Sachs enter the space and this will trigger the bulls.