Bitcoin price predictions are always a point of contention. They have ranged from mind-blowing seven-figure surges to more sedate extrapolations of current market conditions. One industry executive thinks it is quite plausible for BTC to be $50k by the end of 2020 and here’s why.
Speaking to Bloomberg, Nexo founder Antoni Trenchev said that company analysts have crunched the numbers and a price prediction of $50,000 by the end of 2020 is highly plausible. Nexo is a banking institution providing services for the blockchain and crypto space.
When asked about general adoption Antoni reconfirmed the notion that bitcoin has become the digital gold and people are increasingly holding on to it rather than using it as a payment method.
The first and most obvious reason for a big rally towards the end of this year is the bitcoin halving. Trenchev added that the asset is one of few that delivers systematic asymmetric returns and the only thing that has been anything like this was the rise of the US dollar against the…