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

[Taskford]

 It's another dream by those people who think they can earn by spreading fuds over the internet since imagine this OP how could the bitcoin go at $50k price while if you look at the situation right now you can find that the market is struggling so much from global recession and do you think its easy to recover after this thing ends?

For sure no so better step on reality and stop listening to those idiots around.

[nicecrypto]

We can not entirely rule out the possibility of btc reaching the predicted amount because looking at this past few days,  btc have perform well, some will say it is because  of the upcoming halving but let's be positive, even though not up to 50k but I feel btc will do great before yeah end,
The situation of the virus will improve and the economy will recover and so is crypto market.

[swogerino]

I think that this price will be or can be reached in the end of the year 2021.

Here is my reasons why I think we will get to that amount.It is because of halving.In 2012 the first halving happened and after that we see a lot of fluctuations going back to November 2013 when we had the first bitcoin strike.Next halving was in 2016 which was followed with fluctuations until we reached 20000 Usd in the end of 2017.Now we are in May 2020 where we expect halving after a few days and I think fluctuation will happen which hopefully will be followed by 50000 Usd in the end of 2021.

[bitbunnny]

Dream on, people!
It's good to see positive predictions but I prefere those who have at least some ground in reality.
50000$ is pure exaggerating and to my opinion it's not likely to happen. Don't think that every time when Bitcoin price starts to rise that it will reach enormous hights. This takes time, positive trends and continuous, steady growth. Currently there are no conditions for something like that.

[Nadziratel]

I just red an interview about halving and its affect. No one shouldn't expect a 100K after day of halving.

https://www.thinkingcrypto.com/interview-mark-yusko-ceo-of-morgan-creek-capital-markets-economy-bitcoin-crypto/

Mark Yusko said same thing like me. Halving will take effect in a while but it is not right to wait for it in a few days.

[sandra_x]

Most of the very optimistic predictions about the price of bitcoin hitting the roof were often without tangible data to back them, just wild guesses. I personally do not see bitcoin hitting 50,000 USD this year. The rise in price of bitcoin is only going to be gradual and will take a while,

[Gotumoot]

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

Hahaha just let them dream whatever they want we all know that sooner or later reality would wake them up.
No matter what they say I don't think that BTC could really hit a high price this year after all of the crisis that is happening it would really be hard to rise up.
The economy would take some time to recover so does the people so it would take some time before we could see the price going crazy again.

[DevilSlayer]

Expect your expectations, it is not mean that the article that you posted is a fact; it is just a speculation after all so we should not believe on what others say. There are too many speculators and there are many predictions all over the internet, for those who will believe on what they say; you are just affecting your mental health because you are becoming hyped. We cannot just believe on what will they say because it is just a opinion and they can be wrong. If you want to protect, do not believe to humors and predictions.

I experienced to lose huge amount of money before because of the rumors and prediction of the other who are self proclaimed gurus. There is a saying that it is good to learn with the mistakes of other in order for you to protect your capital. That speculation can considered as not achievable especially today where we are still experiencing recession.

[BitcoinsGreat]

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

Although many people are claiming the bitcoin will reach 50,000$ in this next halving but i will be happy if it will reach 24,000$ this year. I think this is a realistic number and bitcoin can reach this by December of this year.

[uboid]

I am confident that it will reach $100,000 during the next bull run, that said I can't say when it will happen.

[maydna]

Although many people are claiming the bitcoin will reach 50,000$ in this next halving but i will be happy if it will reach 24,000$ this year. I think this is a realistic number and bitcoin can reach this by December of this year.

I am sure people who bought bitcoin at 2017-2018 would be glad to see $20k-$22k if that is happening because they already bought bitcoin at the highest price, and they hold for a long time. If the price can increase to that price, they can recover they're lost before plus people can make a profit from bitcoin which they are always waiting. Bitcoin can reach $50k at the end of this year, but that would need more support to lift the price to that price. Well, we can wait for that, and if the price really increases so high, then that will be a good moment to make a huge profit for people who have much bitcoin.

[Twentyonepaylots]

Most of the very optimistic predictions about the price of bitcoin hitting the roof were often without tangible data to back them, just wild guesses. I personally do not see bitcoin hitting 50,000 USD this year. The rise in price of bitcoin is only going to be gradual and will take a while,

Yeah, there is nothing wrong with being optimistic but at least considerate being a realist too, coz too much optimism might just disappoint you. We can all agree that the price of bitcoin is high, market dominance is above half, the All Time High is as good as ever but having a price prediction of $50,000 is just as bad as fud. The halving might be good this year, or not but I don't think it will be the reason to reach the price of $50K, never.

[megarbuz]

China is testing the use of digital currency. There, Starbucks and McDonalds buyers will be allowed to pay in RMB. There are also more than 70 financial sector companies in China, and each of the 4 state-owned banks are introducing blockchain-based applications. Info taken from StormGain digest

[carter34]

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

Most likely too that the project can fail because people would see it as bidding under to project something not real. Why don't the Op come up clean rather than projecting the price of bitcoin as if their were no speculation board or we all don't understand bitcoin will moon after halving.

[Distinctin]

That hope is hanging on the tin air. Yet, some people would speak that way as they think that people would make it believe that Bitcoin is really on that flew. Because to be honest, $50k is really far from happening and I do hopes that newcomers will think differently and not bothered by how people get desperate. If we know the situation, definitely we can tell where we are now and knows the capability of the market.

[Skieleton]

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

It's true ... The market is now even more unpredictable than it was. I know after myself. I plan a larger investment in BTC but the economic situation has thwarted my plans. I think not only I think so ...

[whyrqa]

The fact is that from year to year the macroeconomic situation in the world is only getting worse.  Many countries, under the leadership of their short-lived government, issue more and more national currency, which inevitably leads to their depreciation.  Against this background, cryptocurrency is becoming more valuable along with gold, especially with bitcoin.  therefore, the value of Bitcoin will increase in the future anyway.  but I am also concerned about the fact that almost 80% of all Bitcoins were bought at a price much lower than they are today and if the price reaches a certain level, then there is always a certain risk that the owners will try to sell it in large quantities.

[stadus]

This is normal to the crypto space, once the market is bullish, we will again see a lot of bullish prediction but what we have to do here is just to remain realistic all the time, I am not saying $50,000 isn't realistic but IMO, it's chance of being achieve is unlikely this year, I am okay with $20,000, that would be a new ATH I guess.

[Lucius]

For those who didn’t notice, the OP posted links to articles dated October 2019 and January 2020, which means long before the pandemic happened. I think that therefore their speculations should be seen in the context of people who could not take into account what happened and the consequences that are yet to come.

I can refer to the video presentation of the young Trenchev on Bloomberg, and as some others have noticed it is more than obvious that it is PR (watch the video to the end), with classic comparisons of Bitcoin to gold, halving is coming stuff and rise of US dollar vs reich mark in 1920

I don't see why a BTC wouldn't be worth $50 000 at one point, that's a pretty affordable price considering we should reach a market cap of just $1 trillion for that. This is also one of the theses to which this price is related compared to the gold market cap which is about $9 trillion.

[bitgolden]

This is normal to the crypto space, once the market is bullish, we will again see a lot of bullish prediction but what we have to do here is just to remain realistic all the time, I am not saying $50,000 isn't realistic but IMO, it's chance of being achieve is unlikely this year, I am okay with $20,000, that would be a new ATH I guess.

Obviously there is no way that the price could be 50k this quickly, we are already on 5th month and in order to move from 10k levels to do a x5 and reach the 50k price mark we would need a lot of money, and I mean A LOT, like over 100 billion dollars thrown into the bitcoin world. Look at all the sales happen on average and look at all the buys on average.

Definitely there is also a chance that sellers will stop selling, that way we do not require this much money go into bitcoin and only require people to stop selling, but if the sellers keep on selling the same way they sell, we need about 700 million dollars bought into bitcoin everyday for the rest of the year to reach at that level. I do not see that happen at all, that is just way too much money to go into bitcoin alone.