What To Watch For In 2020
Bitcoin and Crypto Market – 2020 is going to be an exciting year for Bitcoin and the cryptocurrency markets for many reasons, a few of which really stand out. The upcoming Bitcoin halving and a possible ETF in the U.S. could drive the price up, but what will happen with the countless other cryptocurrencies on the market? How will Facebook’s Libra, shifting regulations, and government cryptocurrencies impact the markets and global adoption?
As we enter 2020, Bitcoin shows no indication of giving up its throne as the king of cryptocurrencies. Bitcoin will likely remain this way for at least the next few years, even as we see more businesses and governments introducing their own digital assets. That’s because over the past 10+ years, Bitcoin has proven itself as a long-term investment and store of value. While the price of Bitcoin was a bit of a disappointment in 2019, I predict that the price will spike to $11,000 around the halving event in May. The communities that believe in Bitcoin will continue to HODL, regardless of price fluctuations. I also expect an ETF to pass in the U.S. this year, which could further spark activity among traditional investors and wealth managers.
As the crypto markets mature, every project needs to have a viable use case, a strong community, and an experienced leadership team to succeed. During the crypto boom of 2017, we saw thousands of cryptocurrencies enter the market. Many of these either turned out to be scams, or held promise but were poorly managed. This year, we’ll continue to see scammers and inexperienced leadership teams exposed, and many more cryptocurrencies will nosedive to zero value. Their teams will fade away or move on to other projects. This will be a net positive for the crypto ecosystem, as we desperately need quality over quantity to reach mainstream consumers.
I expect cryptocurrency adoption to grow as companies deliver products and services that make it easier to use. People are beginning to see the value that cryptocurrency brings to the world — and that includes politicians. Government leaders are wrestling with how they will leverage blockchain technology and cryptocurrency as we enter this new decade. China’s central bank is doubling down on its efforts to launch a cryptocurrency, and other countries are likely to do the same. This year, we’ll see more governments and business leaders announce their own cryptocurrencies. While this legitimizes the industry, we must stay skeptical. Ask yourself what the motivation is behind these projects, and if they’re in it for the right reasons.
The most influential of these will be Facebook’s Libra, which continues to dominate industry conversation. When Libra launched last year, it not only signaled a sea change in the industry, but forced regulators to take crypto seriously. It’s also forced other tech giants to reckon with the future of blockchain technology.
All eyes will be on Bitcoin’s price, Libra, and how governments will challenge crypto in 2020. Since the Bitcoin network launched in 2009, there’s never been a dull moment in crypto. One thing’s for sure: This year will be no different.
About Bitcoin Price Prediction:
- Bitcoin Price Prediction 2020: BTC will be around $70,000 by Alexey Ermakov
- Bitcoin Price Prediction 2020: BTC will strongly be influenced by one major event: the Bitcoin – halving, by Moritz…
- Bitcoin Price Prediction 2020: Its best days still lie ahead of it, by Jeff Barroga
- Bitcoin Price Prediction 2020 Ranging Between $8k and $10k by Pascal Thellmann
- My Bitcoin price prediction for 2020 is $20,000 – Eric Brown
- Bitcoin Price Prediction 2020 – Part 1
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Bitcoin and Crypto Market