What will Bitcoin look in 2020? Many enthusiasts and stock market analysts are trying to work out what realistically the coin’s value and place in the market will be.
Analyst Ronnie Moas predicts Bitcoin will hit $20,000 within three years, and some independent views see it as reaching up to $1mln per Bitcoin. The latter seems a bit exaggerated and not possible.
The early testing’s of the Lightning Network that followed the Segwit protocol activation, have enabled that Bitcoin gradually expand and gain almost half of the entire cryptocurrency market. Currently its market value is up to $80 billion. The successful implementation of Segwit, as well as the coin’s ever-increasing popularity, has given Bitcoin a great advantage in the market.
The Bitcoin transactions are happening at a high rate with 400,000 BTC per day, and only 1728 new Bitcoin’s are created each day. The number of Bitcoin’s created is expected to drop to 864/per day in 2020 and only 432 Bitcoin’s in 2024.
In the years closer to 2034, almost 99 percent of Bitcoin’s would have been mined. That makes 20,712,785 BTC in total. People will start to realize that there will not be enough Bitcoin’s to go around. The fear of not being involved in this craze will cause people to purchase the remaining 1.6 percent for the next one hundred years.
If the price of Bitcoin continues to rise in the same trend as it has done in the current year, we are sure expecting to hit Ronnie Moas’s target of $20.000 per BTC.