Bitcoin predictions

BTC 2020 forecast: halving the Bitcoin block

A halving of the Bitcoin blockade is scheduled for May 2020. This event could also have a significant effect on the price of Bitcoin, reinforcing the common view that 2020 could be a record year.

 

The reward for mining Bitcoin is halved every 210.000 blocks. At first, miners earned 50 Bitcoins per mined block, four years later the reward was halved to 25 Bitcoins. Today they get 12,5 Bitcoins for a block.

 

In May 2020, the reward will halve again to 6,25 BTC.

Demand for Bitcoin is expected to increase, but supply cannot increase in line with it. When demand exceeds supply, the Bitcoin value will increase.

 

For example, the first halving of Bitcoin occurred in 2012. A year later, Bitcoin peaked. In 2017 the situation repeated itself, just a year after the second half of 2016.

 

Bitcoin price prediction: how much will it be worth in 2020?

 

2019 was a relatively good year for Bitcoin; however, by the end of September the cryptomarket had made a U-turn over a 24-hour period. Bitcoin (BTC) plummeted below $ 9.000, losing more than 15% in an hour during a mysterious rapid market crash.

 

Things have been pretty difficult for Bitcoin, but the other altcoins on the list of the top 20 cryptocurrencies have suffered even more. The most popular Altcoins, including Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), EOS and others, had double-digit losses.

 

The sudden collapse was allegedly caused by a number of technical problems, but analysts still believe that BTC's value will continue to rise. Despite the fact that Bitcoin is now trading below $ 8.000, it could become an attractive investment opportunity for those looking to buy.

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