The year 2019 is coming to a close. For crypto enthusiasts, the year has been a roller coaster. Volatility has been rocking the market and has seen prices move and down sporadically.
But as we reported here on CryptoMute, this volatility has not affected the overall price action. It remains that Bitcoin is up by more than 100% since its $3,100 bottom back in December 2018. With this in mind, Fudstrat’s Tom Lee and top Bitcoin analyst/bull predicting that 2020 will be a better year than 2019.
If his prediction is right we should see Bitcoin climb above $13,000 which is its 2019 year high. The easiest way to make money in crypto is a position in Bitcoin, he stated.
Tim Draper Says Bitcoin To Reach $250K In 2020
It does not take a rocket scientist to predict that Bitcoin will have a better year in 2020 that 2019. This is mainly because of the 2020 reward halving which is expected in May. Although price action has always been unpredictable and Bitcoin has the potential of changing trends sporadically, most expect its movement to be upward.
Historically, this event has sparked bullish momentum and come 2020, many expect nothing less. One top analyst and Bitcoin Billionaire investor, Tim Draper has said he expects Bitcoin to reach $250K six months after the halving.
With Tim Draper’s prediction, Bitcoin will need a little more to go on than just the halving. The most likely triggers for his prediction to come true could be Institutional investment; which is currently growing as recently proved by Bakkt surging trading volumes. Also, the SEC approving a Bitcoin ETF.
Although the hype around this has died off, such a move could spark one of the greatest bullish force.
Thomas Lee on his part believes that Bitcoin will reach $250K in 2022.