In this article, you’ll learn straight from bitcoin’s top experts as they offer their 2020 bitcoin price predictions.
Most seasoned bitcoin supporters understand that the underlying infrastructure of the Bitcoin Blockchain is now massive. Since the inception of bitcoin, there’s been a constant stream of development. With each new capability woven into the network, we’re seeing more value and usability.
But if you go by what you read on social media, the talk about bitcoin invariably turns to price. And who can resist a little prediction now and then? After all, bitcoin is an asset that has outperformed all other assets in the last decade. It certainly deserves attention and respect – not to mention a healthy dose of speculation.
The influencers who contributed their price predictions are all deep into the bitcoin and blockchain rabbit hole. It’s highly doubtful that any of them will ever come out. But, all of them are directly impacting global adoption of cryptocurrencies in their work. So, if anyone should make a bitcoin price prediction, it should be them.
So we asked them, “What’s your bitcoin prediction for 2020?” Here’s what the experts said:
Bitcoin price predictions – by the experts:
Josh Fraser, Co-founder, Origin Protocol, @joshfraser
“It’s going to be a good year for Bitcoin. I’m expecting it to surge past 14k after the Chinese new year before reaching 30k towards the end of 2020. As usual, it won’t be a straight shot. There will be lots of people taking profits along the way causing minor corrections, particularly around the previous ATH at 20k.”
Joel Comm, Co-Host of The BadCrypto Podcast
“Because of this halving event that’s going to happen in early May, the media around the world are going to be talking about bitcoin a lot more. Usually, that type of coverage drives fear of missing out (FOMO) and people start buying into the crypto marketplace once again. So my prediction is that we’re going to see perhaps an ATH for the price of bitcoin in 2020.”
Timothy Draper, @TimDraper
“Only for 2022. $500k.”
Gunther Sonnenfeld, Founding Partner of Novena Capital
“It’s an interesting question when you consider mining pool shifts, hash rate differentials, and the halving of mining rewards. Such things have historically created bullish trading activity, but I think now investment over speculation has been tempered by the realities of the networks, and a better acquaintance with blockchain technology overall. $15K to $20K for BTC is probably a safe baseline over the next year, but the key elements will be improvements on network security and transactional scale, liquidity generation on exchanges, the actual use of the coins for more mainstream consumer purchases, and understanding how Bitcoin products can collateralize risk or de-risk investments in related digital asset classes, to include altcoin movement. This is where the rubber will actually meet the road in financial terms.”
Roger Ver, Early Bitcoin investor and proponent of Bitcoin Cash
“Utility drives the price. The chain with massive utility will have massive price increases. That’s why I’m betting the most on Bitcoin Cash.”
Bryan Bishop, Bitcoin Core Developer, @kanzure
“I’ll go on the record saying the reports that I have a crystal ball into the future are misleading and inaccurate. I think what we should be looking forward to in 2020 for bitcoin is more development and more privacy, like with the upcoming Taproot proposal or greater security with bitcoin vaults.”
Jameson Lopp, Cypherpunk, Co-founder & CTO of Casa, Bitcoin proponent
“I’ve never made a price prediction, though I have had a tweet taken out of context and posted on charts as a price prediction even though I prefaced it with “wishful thinking,” meaning I expected it NOT to happen. Bitcoin price predictions are ridiculous and are a disservice to the ecosystem due to their shallowness. They result in people investing in an asset they don’t understand well because they think it’s an easy way to get rich quick.”
Travis Wright, Co-Host of The BadCrypto Podcast
“It’s going to be more difficult than ever [to mine bitcoin]. And it’s going to take more hash power than ever to mine efficiently, which typically squeezes the supply and demand and then increases the price over time.”
Riccardo Spagni, Monero Core Team
“Yes – at the end of 2020 I predict 1 BTC will be worth 1 BTC, and 1 XMR will be worth 1 XMR.”
A big thank you goes out to all the bitcoin experts who weighed in with their 2020 bitcoin price predictions (or not!). The year will be filled with excitement and speculation, of that, we can all be sure!
Learn how traders use price predictions in our article: How to Profit from Bitcoin Price Predictions at HedgeTrade.