“Bitcoin Will Skyrocket” Cryptocurrency Traders Say Amid Speculations
Bitcoin looks to top its past performances in the coming years, according to cryptocurrency authorities. A crypto website, CCN reported that the digital currency is on the rise and may surpass its previous achievements.
One trader tweeted that the currency will likely jump to $100,000 in 2 years. He posted on his page:
Bitcoin is gonna break $100k in the next 24 months, and there’s nothing you can do about it.
— Bitcoin Macro (@BTC_Macro) January 11, 2020
However, his prediction met with some differing views from other traders. One of them said:
BTC won’t be #1 on coinmarketcap within that time and there is nothing you can do about it
— zryk (@zryk007) January 11, 2020
Other experts also concur with this prediction. As the article mentioned above, Bitcoin has always done well in halvings since it came into existence. It rose from $12.31 at the price of the first halving to $994.21 moving up to 7,976%.
After this, some traders and business experts started to doubt the longevity of the currency. But it proved them wrong again at its second halving. It surged from $650.63 to $19,535.70 recording a gain of 1,130%.
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To read more about what Bitcoin price halving means, read this Forbes article.
Another crypto trader took to Twitter to also boast of Bitcoin’s possible future rise. Davethewave said that it will even exceed the prediction of Bitcoin Macro, he tweeted far back in 2018 that it will reach about $120,000.
Mike Novogratz who is the CEO of Galaxy Digital, however, predicted that Bitcoin will likely finish 2020 worth about $12,000. This is much lower than the speculations of the earlier traders.
Also, Thomas Lee who owns Fundstrat also placed the possible gains at about 100%. Another low figure for Bitcoin despite it looking big in contrast to regular business profit margins.
Currently, Bitcoin is worth N3,090,519.12 which is approximately $8,467.17. Bloomberg reports that the digital currency had a 20% jump at the start of the year and it will likely increase.
This news is causing a frenzy within the investment ranks as experts are encouraging business owners to expand into Bitcoin investments.
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