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Could the price of Bitcoin (BTC) reach $ 20,000 USD by the end of the year?

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According to a recent analysis, the bitcoin price could approach the price of $ 20,000 by the end of 2020.

This is the June 2020 issue of the Crypto Research Report, which shows the results of the attempt to model the price of BTC with the Irving Fisher equation.

It is the so-called "exchange equation", developed in the last century by Irving Fisher, and is based on the concept that the more often a currency changes hands, the less value it has, since money tends to change hands with more often when people think they may lose value.

The analysis is quite complex, but the bottom line is that starting at a price of around $ 9,200 at the end of June 2020, the bitcoin price could hit over $ 19,000 by the end of the year.

Furthermore, even using the same model, it is estimated that it could increase to more than $ 340,000 by the end of 2025, and then reach almost $ 400,000 by 2030.

The analysis also takes into account the price of other cryptocurrencies, such as Ether (ETH), which, starting at about $ 200 in June 2020, could end the year at more than $ 300, and then rise to $ 3,500 by 2025.

However, the most sensational growth would be that of Litecoin (LTC), which could increase from $ 44 to $ 80 by the end of the year, and then rise to more than $ 1,200 by 2025, and more than $ 2,200 by 2030.

Solid returns are also expected for Bitcoin Cash (BCH) and Stellar Lumens (XLM).

The authors of the report also stated that Bitcoin is still at the beginning of its adoption curve, priced at $ 7,200 at the end of 2019 that would suggest penetration of no more than 0.44% of accessible markets.

If this penetration rate reaches 10%, its price would reach almost $ 400,000.

In total, the market capitalization of all cryptocurrencies could grow to a remarkable $ 212 trillion from the current $ 260 billion.

Obviously, this is not the only forecast that has been made about the bitcoin price in late 2020, but many of the other forecasts have not been made analyzing the fundamentals of this cryptocurrency, such as the speed at which it is traded.

For example, some forecasts based on technical analysis of price trends claim that the price cannot exceed $ 12,000, while there are also others claiming that in the coming months the price may drop even significantly due to problems. which can again affect financial markets.

At the beginning of the year, when the existence of the Covid epidemic was unknown19, some had even hypothesized that the price could exceed $ 50,000 in December, but in light of what has happened in the financial markets since March, these Hyper bullish hypotheses have slimmed down.

However, it should be noted that an analysis that takes into account the fundamentals of BTC use is more robust than one that simply analyzes the price trend, insofar as those who simply do so often cannot give indications long-term.



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