• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Trump Linked Firm Trims Stake in Major Crypto Venture, Big Sell-Off Ahead?
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Trump Linked Firm Trims Stake in Major Crypto Venture, Big Sell-Off Ahead?

Bears Battle Bulls at $7000: Where Will Bitcoin Price Go From Here?

Georgi Georgiev
by Georgi Georgiev
6 years ago
·
Posted in Bitcoin Price, Bitcoin, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

As Bitcoin price (BTC) continues to trade in the red, losing roughly around 15 percent of its value over the last week, two econometric models forecast either a very bright future or particularly hard times ahead.


Economics Professor at Columbia University Panos Mourdoukoutas and one of his students turn to econometric models to forecast the price of the world’s largest cryptocurrency in 2020. The two models they used picture two completely opposite potential outcomes.

Bitcoin Price LIVE: Bullrun in Cards As ETF HYPE Fuels Unprecedented RISE

The Bulls

According to Adam Haye’s model, Bitcoin [coin_price] will reach a price of $55,931.60 by the end of 2020. The bullish forecast is predicated on the supply of the cryptocurrency. Mining is expected to grow at a slower pace as we are getting closer to the 21 million cap. While it’s not a match for John McAfee’s famous prediction of Bitcoin reaching $500,000 by 2020, this is still a massive increase from where the currency is trading at right now.

There are now less than 4 million bitcoins left to mine. Furthermore, unless there is some unexpected and abnormal change in hash rate, the reward for successful BTC miners will drop from 12.5 to 6.25 per block in 2020.

The scarcity of the world’s leading digital currency is making it even more attractive, which is what this econometric model is based on.

The Bears

Bearish forecasts, though, are also on the table. According to Spencer Wheatley’s paper, which is widely based on Metcalfe’s Law. The Zurich professor sees the total market capitalization of Bitcoin — currently more than $120 billion, contracting to $41 billion.

The authors of the paper also predict serious volatility in the price of the first and foremost cryptocurrency:

Looking forward, our analysis identifies a substantial but not unprecedented overvaluation in the price of bitcoin, suggesting many months of volatile sideways bitcoin prices ahead.

While volatility is oftentimes pointed out as one of Bitcoin’s core weaknesses, Arthur Hayes, CEO & co-founder at cryptocurrency exchange BitMex, says that it’s actually a quality that’s much needed:

You want as much volatility as possible to have as much chance that Bitcoin goes to $50,000, $100,000, $1,000,000, whatever that high number is.

In any case, as Bitcoin marks yet another day in the red, the Intercontinental Exchange (ICE) has teamed up with Starbucks and Microsoft on the creation of a digital asset platform dubbed as Bakkt. According to popular cryptocurrency commentator and founder of investment firm BKCM LLC Brian Kelly, this will make the launch of a Bitcoin ETF “much easier” and it represents the “biggest news of the year for Bitcoin.”

Where do you see Bitcoin in 2020? Don’t hesitate to let us know in the comments below!


Images courtesy of Shutterstock; Bitcoinist Archives.

 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Georgi Georgiev

Georgi Georgiev

Follow

Full Profile

Related Posts

Bitcoin

Strategy’s Michael Saylor Shrugs Off Lawsuit, Signals Next Bitcoin Acquisition

10 hours ago
Bitcoin

Texas Signs Strategic Bitcoin Reserve Into Law – Details

1 day ago
Bitcoin

Bitcoin Bears Take The Wheel — Why $94,000 May Be The Next Critical Zone

1 day ago
Bitcoin

Bitcoin Treasury Companies: A Double-Edged Sword For The Market – Here’s Why

1 day ago
Bitcoin

Bitcoin On-Chain Metrics Crash To Bear Market Levels Despite Price Sitting Close To ATH

1 day ago
Bitcoin

Bitcoin Price Pattern Hints At $100,000 Target – Here’s Why

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Green Cloud Mining earns $3,777 a day: Helps you easily...

    41 minutes ago
  • Musk calls again! Earn high returns on Dogecoin with...

    2 hours ago
  • Musk’s attention has set off a new wave of...

    2 hours ago
  • REEF CHAIN ANNOUNCES LANDMARK PRINCIPAL PARTNERSHIP WITH...

    6 hours ago
  • Using BTC, USDC to earn 1700 euros per day through BCC...

    6 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.