Bitcoin Forum

CNBC’s Joe Kernen, the co-host of CNBC’s business program Squawk Box, hinted that Bitcoin price might hit the $55,000 level by 2020.

https://bitcoinist.com/bitcoin-to-55000-by-may-2020-cnbcs-joe-kernen-hints/

O WOW!

55,000 BACKED BY NOTHINGS! O MAN! THAT IS A LOT OF NOTHINGS!


I WONDER WHAT HAPPENS WHEN IT`S BACKED BY 100,000 NOTHINGS?

DO I STILL HAVE NOTHING?  ::)

A lot of these "predictions" are coming from people that need/want the coin to go up and have a lot of holdings, they're not so often from random spaces anymore...

As they mention the block halving, that does nomrally have an impact, however, if everyone expects the impact, it might have already happened or might take longer to happen.

"mjglqw, a Hero member from Bitcointalk, predicts Bitcoin to hit $1,000,000 sometime in 2020"

See how pointless that is? Yea. Stop giving this price predictions too much attention. It means nothing, and it's definitely not worth your time to focus on these stuff whereas you could do something else that's actually worthwhile.

With that said, while I don't think we're hitting $55k next year, it's definitely still a huge possibility.

actually most of these dudes that keep predicting high prices are advertising their business. usually they run some sort of investment firm or something like that which would benefit if there were more speculators and investors in bitcoin space. and the only way to increase that is to tell gullible viewers that price is going to shoot up.

as for halving, the effects will have 2 stages. the first will be the hype which will only happen about 1 or 2 months before the halving date itself and the second will be the real supply rate decrease which will slowly start after halving when 1-2 months passes.

The predictions keep coming in from different angles, we have that of Mr McAfee that sounds very elaborate in my opinion, anyways in the midst of all the different predictions we will eventually see which will come to past, May 2020 is not that very far, lots of crypto lovers are waiting with kin interest to see this happen, all road leads to 2020 8)

I don't believe in any predictions. Wait until 2020 and find out if it's true

Sometime we are tired of these price prediction because at the end of the day we aren't going to see anything close to the said price like what we have seen in the past, let focus on the development of this technology to bring it to the general public for global adoption. All I believe is that, there will be a huge rise in 2020 but not as speculated by  these speculators with high price.

Sounds more like 'Im filled up pretty good with Bitcoin at the moment and the 55k number is my wish for the year 2020'
Let experts predict Q3 (https://bitcointalk.org/index.php?topic=5160304.0) of this year to start with and see how it will hold up.

Firstly this post should go to "speculation" and secondly it's a free world so anyone can say anything! It doesn't matter if that makes sense to anyone or not! If he predicted the target as 20k or close to that, then it would have made sense! 55k is just not possible within this short period of time!

To some extend we believed these speculators with their speculative price with Bitcoin, this is not the first time they are out with such price and sometimes they come to past with their speculations. I can still remember the year 2016 before I joined the journey of Bitcoin, those prediction actually came to past but not like this ones which are on the high side.
I believe that by 2020, we might see a good increase of 100% and not thousands.

These predictions are intended propaganda rather than real predictions?
What exactly makes the price $ 55,000 in May? Is this price at the beginning of the month or the end?
The real predictor is that gives you a range of price where the difference between the upper and lower limits is supposed to be not great.
Those who set a specific price are those who want to revive hopes of price rises and when the price reaches a different range adjust their forecasts.

yes I agree with this. I see there will be a very significant increase next year. every halving, bitcoin always experiences a very high increase. in 2016, bitcoin can rise by more than 200%. and because of this I am optimistic that bitcoin can be up to moon.

it is possible, with the same probability as to hit 20k, or to hit 5k, BTC is highly volatile and un-stable at the moment, and forecast on yearly basis is hard to be valid, especially without any analysis behind it