Bitcoin Returns in 2020 Could Hit 100% without The Halving Event
The coming Bitcoin halving in May 2020 is making crypto participants focus on the digital currency. Many expect an impressive Bitcoin upsurge after the halving. However, some people believe that Bitcoin’s price will significantly rise, even without taking the halving into account.
A recent report revealed that Bitcoin can offer investors 100% returns in 2020. The report further claimed the possibility of Bitcoin rising exponentially, even before the halving happening in May.
Crypto Enthusiasts on Factors Affecting Bitcoin Price
Fundstrat Global Advisors pointed out that the halving is yet to get priced into Bitcoin’s price. The company’s clients can access the report, as Tom Lee gave out main points on Twitter on the 10th of January.
Lee and some other people believe that only geopolitical tensions and upcoming US presidential elections will influence Bitcoin’s price. He believes that Bitcoin halving will contribute to the cryptocurrency’s forthcoming upsurge, as Fundstrat reviewed the events last year before reaching this conclusion.
Fundstrat mentioned the price of BTC/USD hitting its peak amid the concerns raised over the stablecoin project on Facebook. Additionally, the US president negative comments led to an upsurge. Past reports stated geopolitical factor as the primary contributor to Bitcoin’s price rise this year. However, when it comes to halving, the experts are not quite in agreement.
As per Jason Williams, the joint founder of Morgan Creek Digital, the imminent halving will be a hyped non-event for Bitcoin. On the other hand, Anthony Pompliano, also a joint founder of Morgan Creek Digital, begs to differ with Jason Williams. The latter said that two months ago, the halving effect’s pricing is yet to happen at $ 8750.