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Bitcoin price predictions after the 2020 halving
Bitcoin price predictions after the 2020 halving
Bitcoin

Bitcoin price predictions after the 2020 halving

By Marco Cavicchioli - 11 May 2020

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Bitfinex has collected and published a list of predictions regarding the price of bitcoin after the 2020 halving

The team of the exchange has contacted several traders, as well as crypto content creators, and asked them to comment on it. 

In reality, in many cases these are not specific predictions about the price levels it might reach, but about the trends that will be triggered when the creation of new coins is halved. 

For example, Didi Taihuttu says that the deflationary aspect of bitcoin has made it the best performing asset of the last decade, and the third halving will further increase its scarcity, making BTC even more valuable. According to Taihuttu, a new bull-run could occur in the next 18 months. 

In this regard, Crypto Bitlord says the price could rise to $12,000 soon, and then aim for the new all-time high. 

CryptoMurmur also agrees but adds that this bull-run could be faster than the previous ones: in fact, he points out that uncertainty is still reigning in traditional financial markets, and that a further price increase could make bitcoin an even more attractive investment for the mass of retail investors. 

He also adds that a bearish phase could return later on, due to the fact that the bull-run must be supported by the entry of large capital that is invested in bitcoin in the long term. 

Mr Backwards explains that Bitcoin is now stronger than ever because it has recovered from a difficult period, supported by the growing adoption of financial institutions. 

Meanwhile, Jason Williams suggests following the famous motto “Buy the rumour, sell the news” and to pay attention to the selling after the halving. 

A slightly different opinion is that of Willy Woo, according to whom, after this halving, the miners will cease to be the biggest sellers of bitcoin, arguing that the main sellers will become the exchanges themselves, which will sell the proceeds from the trading fees collected in BTC. 

Crypto Michaël, on the other hand, argues that summer could be a “fun” time for altcoins. 

Bitfinex’s opinion on the 2020 Bitcoin Halving

Paolo Ardoino, CTO of Bitfinex, is more cautious. In fact, he states that it is actually very difficult to predict what will really happen in the short term after the halving. 

Ardoino says that he remains extremely bullish in the long term, but the current very critical situation in the financial markets generates too much uncertainty, and this, combined with the fact that the prices of cryptocurrencies could be affected again by traditional markets in the coming months, prevents having a clear picture of the situation. 

 

Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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