Bitcoin Price Prediction: BTC Price Forecast

October 15, 2020

Price Prediction

Sean Korbett

What is Bitcoin (BTC)?

Bitcoin is the first decentralized digital currency. Basically, Bitcoin is a peer-to-peer payment system that is not tied to the economy of any country or to the central bank. All actions to issue new coins, process payments, and create accounts are done by equal, independent network participants. Bitcoin uses cryptographic methods to ensure the functioning and protection of the system, but at the same time, all information about transactions is documented on a virtual ledger called the Bitcoin blockchain, which is accessible for everyone to see.

Nowadays Bitcoin is the most famous cryptocurrency in the world and the number one digital currency by market capitalization.

Bitcoin achievements and future plans

The latest most impactful news from around Bitcoin were the following:

• Bitcoin halving took place on May 11, 2020.

• Bitcoin developers move forward protocol enhancements through soft forks and activating Taproot. 

• Bitcoin is the most popular cryptocurrency investment for companies. MicroStrategy, a publicly-listed U.S. invested $425 million in Bitcoin. Square reportedly invested 1% of its portfolio into BTC, demonstrating strength in its long-term growth.

• According to Chainalysis 11.4M Bitcoin are held as long term investment.

• At block height 642,034 on August 3, a billion-dollar transaction took place where it only cost a small amount of 80 cents (0.0008034 BTC at 129.6 sat/vB). 

• Over $300,000 in bitcoin grants being raised to support open source development and seeing bitcoin out-perform the price of gold by 100% so far this year.

There is no official roadmap of the Bitcoin project. But according to the official Twitter of the Bitcoin Core developer – John Newbery, in the near future the Bitcoin team will focus on the Lightning Network. The Lightning teams working on c-lightning (Blockstream), Eclair (ACINQ), LND (Lightning Labs) and Rust Lightning will continue to develop the protocol. 

Bitcoin Price History

Source: CoinMarketCap, Data was taken on 15 October 2020.

Experts Price Predictions

Bloomberg Intelligence

Blomberg analytics says that Bitcoin’s foundation is firming for further price advances.

“Considering normal maturation, about double the time frame from $1,000 to $10,000 would come in around 2025, for Bitcoin to potentially add another zero.”

Mike Novogratz

Mike Novogratz (CEO of crypto merchant bank Galaxy Digital) hopes that BTC will reach $20,000 highs by the end of 2020.

“This is the year of Bitcoin and if it doesn’t go up now by the end of the year, I might just hang my spurs.”

John McAfee 

An entrepreneur John McAfee has attracted public’s attention with his bizarre Bitcoin price predictions for the year 2020.

In the beginning of October 2020, McAfee got arrested for tax evasion charges, so the crypto community probably will not see the end of this bet.

Tone Vays

Famous derivatives trader and consultant, Tony Vays during an interview with IGTV noted his thoughts for BTC price:

“Do we think we go as high as $100,000? I’m not willing to make that statement. For me, I would be happy if the next top was around $45,000, and that can happen quickly.”

Anthony “Pomp” Pompliano

The co-founder of Morgan Creek Digital Assets, Anthony “Pomp” Pompliano is sure that Bitcoin will continue to grow.

“You know there are people who debate what the size of the gold market is but let’s just use easy numbers. Let’s say that it’s $8 trillion. That puts Bitcoin at, depending on how many are lost or stolen, $400,000 to $450,000 today. Do you think that Bitcoin is going to be the equivalent of the gold market? I don’t. It’s better. It’s going to capture more market.”

Bitcoin Technical Analysis

Source: Tradingview, Data was taken on 15 October 2020

Bitcoin Price Predictions 

TradingBeasts BTC forecast

By the beginning of December 2020 BTC price will be $10,271.457 (-9.23%) per coin. TradingBeasts analytics thinks that by end of the year 2021 the maximum BTC price will reach $13,969.59 (+22.51%), while the minimum price could be $9,499.322 (-16.69%) per coin.

Wallet Investor Bitcoin price prediction

According to the Wallet Investor Forecast System, BTC is a good long-term investment. By the end of December 2020 Bitcoin could reach a maximum price of $15,339.20 (+34.51%) while by the end of 2021 its price can be $16,691.80 (+46.38%) per coin.

So, is it profitable to invest in Bitcoin? According to Walletinvestor forecast, the long-term earning potential can reach +12.47% in one year.

DigitalCoinPrice BTC price prediction

Based on DigitalCoinPrice forecast Bitcoin is a profitable investment.The BTC average price may grow up to $26,263.42 (+130.31%) till the end of December 2020. While by end of the next year the its average price will be around $23,736.09 (+108.15%). 

CoinPriceForecast Bitcoin forecast

CoinPriceForecast thinks that Bitcoin price at the end of 2020 will be around $11,495 (+0.8%). By the end of 2021 BTC price will reach $15,603 (+36.83%) per coin.

As you can see there are a lot of Bitcoin price predictions, but no one knows for 100 % what will happen with its price. One thing is for sure – if you are looking for the best platform to exchange cryptocurrency – StealthEX is here for you. 

How to buy Bitcoin at StealthEX

BTC is available for exchange on StealthEX with a low fee. Follow these easy steps:

✔ Choose the pair and the amount for your exchange. For example, ETH to BTC.

✔ Press the “Start exchange” button.

✔ Provide the recipient address to which the coins will be transferred.

✔ Move your cryptocurrency for the exchange.

✔ Receive your BTC coins!

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The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.

October 15, 2020