Reason behind the Bitcoin price could reach $50,000 in 2020

[UrEspasito]

While the Bitcoin price was on the decline for the second half of 2019, the reality is the crypto asset still roughly doubled in value over the course of the entire year. In fact, there were only two major cryptocurrencies that outperformed Bitcoin in 2019.

Source: https://www.forbes.com/sites/ktorpey/2019/10/22/these-are-the-only-2-major-crypto-assets-outperforming-the-bitcoin-price-this-year/

Nexo co-founder Antoni Trenchev told Bloomberg’s Matt Miller why he thinks the Bitcoin price could continue to rise to the $50,000 mark in 2020.

Source: https://www.bloomberg.com/news/videos/2020-01-03/bitcoin-could-go-to-50-000-by-end-of-2020-says-nexo-s-trenchev-video

“I think that, very easily, we could see Bitcoin going up to $50,000 by the end of this year,” said Trenchev.

Trenchev’s Nexo platform allows users to borrow fiat currency against their cryptocurrency holdings. According to Nexo’s researchers and analysts, a massive rise in the Bitcoin price could occur due to the upcoming halving event. A halving event in Bitcoin is when the amount of Bitcoin generated by the network roughly every ten minutes is cut in half. This event takes place about every four years.

Have a great day

[cryptoaddictchie]

Here we are again those expert on crystal balls are speaking of their wild guess just because the price is slowly increasing

I can see that BTC is gradually moving its pace as we approach halving but reaching 50k$ soon or even this year would not be happening. The crisis all over thr world is still ongoing and evej though a lot of people wanted to invest to rise demand, there are still people who needed to allocate their funds somewhere. Also we will experience a series of dumps before even going to bullish season first.

Id rather see myself what its direction for the next few months than listening to these self proclaimes analysts

[pooya87]

this seems to me like yet another idiot who has started a cryptocurrency related service who is not trying to advertise their crappy service by talking about bitcoin's price and reporting random positive prices just to be repeated all over the social media and have their "brand name" heard.

[QueenVera]

Why do we keep making this speculators more popular by discussion their price speculation like they're some god or what. Anyone can make a speculation of bitcoin price based on how it'll favours them. They're not different from the accounts created on the forum for the purpose of guessing what the future price of bitcoin will be. Sometimes I begins to think these prediction are done intentionally to manipulate the market into a bullish trends as newbies begin to FOMO itno the market hoping to profit which isn't healthy to some extent to the steady growth of the industrial.

[Swapzone]

I think this is highly unlikely speculation.

[Fundamentals Of]

While everybody seems to be praying for Bitcoin to rise, I don't think someone is actually saying "make it $50,000 this year oh god." Do you know why? Because they think that if they ask that, it will not be granted to them. Lol.

Another thing, if someone is promoting a different project while predicting Bitcoin's price this way, his project will most likely fail.

[dragon695]

While everybody seems to be praying for Bitcoin to rise, I don't think someone is actually saying "make it $50,000 this year oh god." Do you know why? Because they think that if they ask that, it will not be granted to them. Lol.

Another thing, if someone is promoting a different project while predicting Bitcoin's price this way, his project will most likely fail.

I have encountered so many similar projects and often they are bad or scam projects. There are greedy people here, so the whales will often launch good news about bitcoin so they can buy it at a price higher than the real value of bitcoin. then only whales are profitable when they buy at a low price and sell at a high price. In crypto market, people should not expect too much about the strong pump of the same market in 2017. The golden age is only 1 time and those who are still dreaming will often be eliminated. Be realistic so as not to lose money. 

[imstillthebest]

this is nice   . many bad news ive heard left and right recently but seeing good news like this makes me easily forgot them and forgot my problems   .

 i think after this  ,  ill be headed on the store again to cash in and buy more btc  .  in preparation for the year end   .  if not because of corona virus i think the price 50k can be easily achieved by the middle of the year while people can speculate more than 50k usd by before the year end   .  still 50k usd is a great amount imo

[Shame_Game]

No matter what the reasons may be, the price of bitcoin is spontaneous.

[carlisle1]

I think this is highly unlikely speculation.

Yeah and must be moved to different section here https://bitcointalk.org/index.php?board=57.0 and there is where the place must more talks about this same topic again .

No matter what the reasons may be, the price of bitcoin is spontaneous.

and only needs time to happen,the more you eager the more you wont get any good result so in the end?still Holding is the best way to to profit here.

this is nice   . many bad news ive heard left and right recently but seeing good news like this makes me easily forgot them and forgot my problems   .

News cannot make market move now as the days have gone for the same style of propaganda .

[kryptqnick]

this seems to me like yet another idiot who has started a cryptocurrency related service who is not trying to advertise their crappy service by talking about bitcoin's price and reporting random positive prices just to be repeated all over the social media and have their "brand name" heard.

It's a smart move, actually, as now both you and I and many others have heard of 'Nexo', which would otherwise be unlikely. Another step he could take is proclaim himself 'Satoshi Nakamoto', this also seems to boost popularity of no-names (short-term, at least).
As for the prediction, it's not a reason at all. One guy thinking it might get there is not a valid explanation of why it should be this way. However, it doesn't mean that Bitcoin won't reach $50k by the end of the year. I think it's possible, but it has nothing to do with this guy or with Bitcoin being outperformed only by 2 cryptos (I've never heard of LINK btw).

[sunsilk]

It's on bloomberg and this live interview was few months ago. I think it's a good exposure that he actually talked about bitcoin but can't also remove the fact that it's also to advertise his service. I'm all in for bullish with bitcoin.

In 2017, everyone most likely didn't expected that bitcoin can reach $20,000. That year started with $960 and then by eoy, it has shown the bull run then followed by a quick correction although, overall that run for that year was greatly bullish. Possible to happen again but the majority's sentiment for bullish run is for 2021.

[PointHope]

For BTC to hit 50k we would need to see a market cap of  about one trillion.

Considering the trillions upon trillions being printed out of nothing it is hardly a stretch of imagination for BTC to have trillion market cap fairly soon.

[Eugenar]

This topic has been discussed always as we are started the bitcoin halving. There are many speculation about the price of the bitcoin but none of them can say the accurate price of the bitcoin for this year because no one can predict it. $50000 is really high and it is reachable by the bitcoin but I think it won't happen this time because we ars still experiencing this pandemic virus which is one of the reason why the price of the bitcoin goes down before.

The incoming price of the bitcoin is unpredictable so do not believe on those people who do prediction about the price of the bitcoin in this bitcoim halving.

[boybass]

He sees the same thing we see, we ain't blind, so there is no need to speculate on our behalf, lots of people have come in with their own ideas and speculations and all , for 2020 we actually see lots of reason beyond he's own scope proving that bitcoin will have a new new, and i mean really new high this 2020. he's speculation is just based on what we all see currently.

[online73]

Hello everybody. We can now name many reasons for the rise in the price of bitcoin at $ 50,000, but so far there is no general regulation of the cryptocurrency market, here is the master and god, is a market maker. It will be profitable for him to drag the price of $ 1,000, he will find the reason, the price of $ 50,000 will be more profitable - we won’t even have time to say a word. Therefore, I just suggest relaxing and having fun.

[Yaunfitda]

For BTC to hit 50k we would need to see a market cap of  about one trillion.

More than 1 trillion is a good guestimate here.

Considering that the halvening price is in, I doubt that we will see another money coming in. Unless there is FOMO and institutional and retail investors and more fresh blood pump the market again.

Considering the trillions upon trillions being printed out of nothing it is hardly a stretch of imagination for BTC to have trillion market cap fairly soon.

Possible, but it might take years to get to a new all-time-high. We will see a lot of bumps along the way, similar to 2016-2017 bullish ride.

[buwaytress]

Not going to deny that it's "easy" to see how 50k could be achieved, if 3.6k was the best a crash could do, but I'm still going to wait for the second wave of global recession to hit the markets. When (not if) stocks finally give way to that, and we see all the repercussions come out of that, I'll be watching Bitcoin price, and so will most other investors I believe.

I'm guessing resilience, rather than boom.

[isaac_clarke22]

50k? That's quite crazy, unless there's like a sudden spike upwards in the price.
BTC is kinda stuck right now in above 9.2k. We're getting steady increases, and from that steadiness I don't think that getting even half of 50k would be possible.
Regardless if the speculation is for hype or whatsoever, I don't mind what the prediction is. As long as opportunity to buy arrives, I would.

[LogitechMouse]

Another thread regarding the price of Bitcoin within the next years .

I will repeat what I always say, these prices have the possibility to be reached but the chances of it are pretty slim right now (around 5-10% for me). We are at the $9000 right now and the first half of the year is almost done already. $50,000 within this year is possible but the chance are around 1-2%