Despite the cryptocurrency and digital asset market going through a bearish phase, several analysts had suggested that now is the best time to invest in crypto. This time, the Chinese Bitcoin bull Zhao Dong has backed this notion by commenting that investors should buy Bitcoin now as the price is low and it may start shooting.
Bitcoin Price Prediction 2020
Interestingly, the Chinese Bitcoin billionaire has predicted that the market may initiate to grow in 2020 and that the leading digital asset may reach the value of $50,000 a pop by 2021. Interestingly, Dong says that now is the best time to buy. As per ZyCrypto, Dong said:
“For most people, if they don’t pay attention to Bitcoin now, they won’t pay much attention to most of the time, so for them, only how many tens of thousands of bitcoins will break them will be noticed again. If you and I believe in the future of Bitcoin, so it is best to hold as much as possible when nobody cares.”
Unlike some other analysts, Dong is of the opinion that the market won’t be doing much escalation in 2019. It is to be noted that he isn’t the only one having this stance. Charlie Lee, the founder of Litecoin, anticipates that Bitcoin will accomplish $20,000 in around 3 years. Apart from the aforementioned predictions, some fintech experts suppose that Bitcoin may gain a considerably level throughout this year alone.
Notably, there are a lot of experts that contemplate 2019 will be the year for the growth of digital assets and cryptocurrency. It is apparently becoming comprehensible that the growth may not be as major as is expected. This, to a certain extent, is due to the fact that some developments in the sector that were anticipated to impel a bull run are not yet ready to go ahead.
Bitcoin Price After Bakkt Launch
One important factor behind the deceleration of the sector’s growth is the delay in the launch of Bakkt Bitcoin trading platform. It is to be noted that Bakkt was to launch early this year. However, it is now anticipated to commence later in the year.
It is to be noted that the uninterrupted postponements will keep institutional investors away from the market as long as the infrastructure is still not 100 percent. Also, there are trivial recoveries that the market goes through time to time. Nonetheless, they aren’t considered enough to make a complete revival.
Prospective investors will have a lot of time to get drawn in before the bull market which is expected to come years from now, as per the analysts.
What are your thoughts about the prediction? Do you think Bitcoin has the potential to reach $50000 by 2020? Or you think that its value may become zero?