- Which Cryptocurrency will explode in 2020?
Bitcoin is the Cryptocurrency that will explode in 2020. This is because Bitcoin currency will soon become a direct beneficiary of a slowed supply growth and an escalated demand growth in the entire global cryptocurrency market. Considering the supply side, the third halve of May will have a direct impact on the amount of Bitcoins penetrating the cryptocurrency market hence leading to a slowed supply growth. On the other hand, the demand side of the Bitcoin will be escalated to very high levels in 2020 because this is the entry point into the cryptocurrency market in the entire world.
- Is 2020 a good year for Cryptocurrency?
The year 2020 has been quite an exciting one for the cryptocurrencies. Since the outbreak of the global Covid -19 pandemic, there has been the existence of uncertainties on both the medium and long-term impacts that are likely to be faced by the crypto markets due to the pandemic. Despite this, the market has experienced a massive resurgence with the prices of stable coins, bitcoin, and Ethereum shooting up by 30% in the last few weeks. This rise has occurred amidst the worst scenarios in the history of digital currencies, where the value of the Cryptocurrency has been sold at half the normal price in a series of surprising sell-offs.
- Is it worth investing in Cryptocurrency in 2020?
Yes, it is worthy of investing in Cryptocurrency in 2020. According to the CEO of Binance, Changpeng Zhao, he disagrees with the fact that it is the Covid -19 pandemic that led to the crash in the leading Cryptocurrency, Bitcoin from $ 10500 to $ 4679.Instead, he blames the overall sentiments from the market, furtherly stating that Bitcoins fundamentals is still very strong. Luckily enough, the market began recovering, and by the moment of writing, BTC was trading at $6298, which is a glimmer of hopes for the crypto markets.
- What will Bitcoin be worth in 2020?
According to Tom Lee, a co-founder of the market strategy firm Fundstrat Global advisors, his recent prediction projected a rise in the Bitcoin currency to $91000 by March 2020. This was based on the chart showing Bitcoin’s performance following the preceding dips in the market. The above value was arrived at, through calculating the averages of price percentages gained after every dip. On the other hand, according to Ronnie Moas, the founder and director of research at Standpoint Research, he projected that the Bitcoin would be worth $50000 by late 2020.
- Which Cryptocurrency is best to invest in 2020?
Bitcoin still remains the best Cryptocurrency to buy for 2020. This is because, in the few months to come, it will get the ticket of directly benefitting from slowed supply growth and increased growth of demand in the global cryptocurrency market. Its supply side will equally be subjected to the third halving in May, thereby directly impacting the amount of new coins getting into the market hence causing relatively slowed supply growth. The demand side, however, will get higher in 2020, since Bitcoin is the entry point for new investors in the crypto market.