Bitcoin halving in 2020 was quite a momentous occasion for the community and crypto enthusiasts. It supposedly reduced the reward for any Bitcoin block mined, hence, ensuring scarcity of the cryptocurrency. Meanwhile, it also spurred positive and negative Bitcoin price predictions.
All the bullish and bearish predictions formed the basis of this list, which is intended to highlight some of the insightful quotes from industry players on Bitcoin price prediction.
1. Thomas Lee
We’re really optimistic on crypto and Bitcoin this year. […] Whenever Bitcoin breaks back into its 200 day, its average six-month gain is 197%.
Thomas Lee, a Wall Street strategist, explained that Bitcoin would return huge profits whenever Bitcoin crosses its 200 DMA or Day Moving Average, with the expected Halving effect.
2. Max Keiser
While referring to the impact of Coronavirus on Bitcoin, Max Keiser said:
This is the global financial crisis that will catapult the price $100,000 and beyond.
The well-known Bitcoin supporter said the Coronavirus spurred the second part of the global economic meltdown and that the Bitcoin price could surge to $100,000 amid fear of the pandemic.
3. Hal Finney
Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 21 million coins, that gives each coin a value of about $10 million.
Hal Finney is considered of the Bitcoin legends and pioneers. His Bitcoin price prediction was that the cryptocurrency would reach up to $10 million upon mainstream adoption as a dominant payment system.
4. Josh Rage
BTC Unpopular Opinion: The next Bitcoin peak high will not be as high as most people think.
Regardless of the Halving hypes, Josh Rager, the advisor of Glassnode, said that Bitcoin wouldn’t reach $75k to $85k high since its “bottom to peak return” decreases by roughly 20 percent in every circle.
5. Robert Beadles
I would further venture to say Bitcoin will hit $2 million a coin in the next five years so long as the core dev team doesn’t destroy it accidentally from within.
Robert Beadles, the president of Monarch, noted that Halving would get Bitcoin to $11,000 and even more if the core development team doesn’t compromise it.
6. Anthony Pompliano
This [halving] will see a programmatic decrease in the incoming daily supply of Bitcoin from 1,800 per day to only 900 Bitcoin per day.
Pompliano is a well-known Bitcoin proponent who has made several Bitcoin price predictions. He predicts the price to spike in the next 1 to 2 years amid the scarcity.
7. Dan Morehead
If history were to repeat itself, Bitcoin would peak in August 2021 — at $533,431.
Dan Morehead, the CEO of Pantera Capital Founder, believes the Bitcoin value could surge as seen in the previous Halving, especially with the increasing rate of money printing.
8. Jake Yocom-Piatt
The stock-to-flow ratio is increasing substantially as a result of the halving, so that is good for the longer term price of Bitcoin.
Jake Yocom-Piatt, the co-founder of Decred, predicts that Bitcoin is set for the price increase and that miners would push up the price.
9. Peter Schiff
A consensus trade is crowded and usually doesn’t pan out as the crowd expects. I can’t think of a more consensus trade in #Bitcoin than being long going into the Halving, an event that is universally believed to be extremely bullish.
The Bitcoin opponent, Peter Schiff, touted that the Halving effect might be disappointing. He claimed that crypto traders could be disappointed in the hopes of seeing a price increase.
10. Danny Scott
We can hope for the $100,000 region to hit within the next 12 to 18 months.
CoinCorner’s Danny Scott believes in Bitcoin price surge amid the Halving; however, it will take more time than expected.
11. Mr. Pal
Bitcoin is the call option on the future system.
Mr. Pal, who is known for his economic crisis forecast, believes that Bitcoin is growing into a haven asset, and could reach $1 million in 2023 – 25.
12. Zac Prince
Bitcoin has already bounced back from its losses stemming to pandemic market reaction.
The co-founder of BlockFi, Zac Prince, says the Halving was “perfectly timed” and expects the price to steadily rise as a haven from COVID-19.
13. Satoshi Flipper
No way are my convictions changing because some clowns sold their BTC and price tanked one day.
Satoshi Flipper, a cryptocurrency trader, is among those who believe that Bitcoin will surge amid the Halving; hence, he is HODLing tightly.
14. Charles Edwards
This will be the most brutal Bitcoin Halving in history.
Charles Edwards, a Digital asset manager, predicted that the production cost of Bitcoin could double to $14,000, just like the last Halving.
15. Su Zhu
I think once the halving comes through and people see there’s less supply coming on the market, there’s going to be quite a big supply shock.
Su Zhu believes in the positive effect of Bitcoin scarcity. Therefore, he expects the BTC price to rise accordingly in the next few months.
16. James Torado
I would not be surprised if we see bitcoin prices rise above these levels so that miners remain profitable.
TadeBlock’s James Todaro predicts that Bitcoin could be reaching $15,000 per coin amid the Halving to retain the miners.
After the Halving, we only need $200M per month to keep $7k level. If $400M stays, then.
PlanB said that Bitcoin price would reach $14k with a $400 million inflow per month, possibly due to the Halving.
18. Paolo Ardoino
We might see some FUD before the Bitcoin halving. By the end of 2020, I think the Bitcoin price will be at least $20,000.
Ths CTO of Bitfinex, Paolo Ardoino, said he expects FUD over Bitcoin yet remains bullish that the price will spike by the end of 2020.
19. Adam Back
I think there is a good prospect of exceeding the previous all-time high of $20,000 in 2020.
The CEO of Blockstream, Adam Back, is optimistic that the price of the cryptocurrency will exceed the current all-time high amid halving and other fundamentals.
20. Marc P. Bernegger
I consider the macroeconomic situation to be a strong driver of the Bitcoin price.
Together with the Halving and institutional investments in Bitcoin, Marc P. Bernegger expects Bitcoin price to rise steadily in accordance with the macroeconomic conditions.