The price of bitcoin gained nearly 92% in 2019 as it started its year at $3,750 and reached above $7,000 at the end of the year. According to a recent report published by Fundstart, bitcoin gained because of Facebook announcing its crypto project and US President, Federal Reserve Chairman talking about digital currency publicly.
Bitcoin would move closer to its all-time high of $20,000.
The price of bitcoin surged in 2019 despite the strict regulations all around the world. The Fundstart report claims that bitcoin would be seeing a similar bullish momentum that would push the price of bitcoin up by 100%. The report highlights three events that could make this prediction come true. The first event is bitcoin halvening, which is scheduled to take place in May this year. 2020 US Presidential elections and geopolitical risks would also contribute to the rise in the price of bitcoin, according to Fundstart.
Blockstream CEO believes $100,000 per bitcoin is not far.
The CEO of Blockstream, Adam Back, said that the current world of negative interest rates, Modern Monetary Theory and inflation, we are closer to the path of “hyperbitcoinization.” He added that $100k per bitcoin is not far away, given that it has already crossed above $10k, which nobody had expected a few years ago. Currently, the price of bitcoin is trading just above $8,000.
And $100k Bitcoin doesn't seem so far given we already crossed $10k threshold a few times when few expected even $1k some years back and $10k seemed crazy.
— Adam Back (@adam3us) January 11, 2020