Is it too early to be speculating about the price of Bitcoin in light of what happens in the Summer of 2020?
The eyes of the world will be on Japan when it hosts the 2020 Summer Olympics, not to mention the thousands of international atheletes, fans, spectators and tourists who will converge on the land of the Rising Sun. As we all know, Japan is one of the most bitcoin friendly - if not THE most bitcoin friendly - country on the planet right now with it's acceptance of Bitcoin as a legal currency.
Also, for those not yet aware, the next Bitcoin halvening will occur sometime during the Summer of 2020.
Not only will there be some decent exposure just from the fact of bitcoin friendly Japan hosting such a yuge international event
(sure, the Olympics has lost some of its prestige, but still), but there will lso be the inevitable hype surrounding the ?third bitcoin halvening to occur around the same time (albeit price increases have historically occurred weeks to months after the actual halving event date).
Add to that, we could by that time have a consensus solution to the problem of scaling implemented.
To summarize:
Bitcoin-friendly Japan hosting 2020 Summer Olympics + Bitcoin Halving in Summer 2020 +/- possible consensus solution to scaling problem = Perfect Storm? Or just a minor squall?
My over-exhuberent amateur bitcoin speculation intuition vibes are telling me ~$30K price for bitcoin towards the last quarter of 2020 - barring any catastrophic negative event(s) occurring between now and then.
What do you think? Too early to predict? Am I putting to much significance on things? Out of my mind with $30K?
2020 will be a great year for bitcoin. Im sure we'll have segwit by then, we'll have fully operational lightning network, and bitmain will most likely be bankrupt. ETH may have collapsed by then, since we will go through another DAO, all this money will come back to BTC.
The halving decreasing the reward will bring the price to 5+ figures.
We will get SegWit this year! Look what is happening since a few days! More and more companies agree to UASF BIP148. If Bitmain and it's allies continue to act as they did in the past few days and weeks they will learn a very hard lesson!
In terms of 2020 I don't know if the Olympic games will play such a significant role for Bitcoin's price. We still have 3 years to go and in that time a lot of stuff happens in the crypto space! Imo we could see 5 figures way earlier, even if it's just for a short moment!
However the halving in that years could finally push us above $10k. Again this is all only possible if no other big shit may happen or any plans to stall Bitcoin's progress.
EDIT: I also believe as soon as we move to a price of around 4-5k I'm sure we will see companies like Samsung, Intel entering the space, and producing mining chips. This will help to increase mining decentralisation again, which is definitely needed!
