Bitcoins were introduced in the cryptocurrency exchanges in the year 2008, and it was the first application of Blockchain Technology. Since then new Bitcoins were mined and used in the exchanges with real-time transaction information. As per the market report, it is estimated that the price of Bitcoins is likely to hover around $ 9.500 to $10,500. As a result of the financial crisis due to the worldwide pandemic, Bitcoins are headed towards a roller coaster ride. However, still, the year 2020 is going to be fruitful for the cryptocurrency traders. The best part is, BTC will be touching an all-time high price during the whole year.
It suggested that the traders buy BTCs in chunks as it will benefit them from either way like if there is a fall in price will not impact much on their trades and if the prices are raised to a certain extent then the traders will be the gainers. Cryptocurrencies being accepted worldwide and people now have the choice to purchase cryptocurrencies in minutes from any part of the globe. However, most of the available providers of the cryptocurrencies may offer unfairly high rates and commission. The good part is that buy BTCs now is no more difficult as was earlier, all because of the introduction of new mobile and web services that allows people or traders to buy BTCs almost instantly.
The crypto market is experiencing volatility and may affect the price of Bitcoins in the coming five years. So it would be the best idea to keep track of the predictions done by market experts working in the heart of the cryptocurrency market. According to the prediction of the founder of McAfee associates,’ it is said that BTC is likely to be worth half a million dollars in the year 2020 and may even reach the mark of $ 2.6 million in the same year. After the Bitcoin halving event which is basically an event in the network that is responsible for lessening the supply of BTC, it is estimated that the coin value will increase, and price rise is expected in the year 2020.
In the current market condition, BTC has been showing a steady rise since March and a further increase in price is inevitable in 2020. The two halving events that happened earlier play an important role in predicting the coin’s future as the price of Bitcoin was at an all-time high after the events. In terms of the rise in the price of the Bitcoin, there is some hope for an upward price trend and it is likely to rise by $11,500 in the year 2020. This is good news for the cryptocurrency traders as their anticipation will not go in vain.