Bitcoin Prediction ✅ for 2020

If you are one of those people who are doing HODL or have bought when the price was well above the current level, I recommend you continue reading this article, where I will try to analyze the future of Bitcoin for the 2020.

Many people have bought or are thinking of buying and wonder if Bitcoin is a good investment. In 2017 the Bitcoin price increased by 2,000%, and what everyone wants to know is whether it will have a similar performance in the coming years. What will happen to the BTC in this 2019 doesn’t matter as much, but what it eventually does in the long run.

The idea of this post is to give a general look at the current Bitcoin, where it is, and then move on to a brief explanation of those important aspects to take into consideration before investing heavily. If you have already invested do not worry, this type of information will also be very useful to make a good decision.

If you have read other articles on this website then you will know that always recommends doing your own work, and this one in particular does not try to go against it, but to be a starting point where you understand and you are informed of basic aspects that guide you to acquire more Knowledge, either in this blog or in another.

To Close the guide we will see some of the most popular predictions for the year 2020 that concern the Bitcoin, and also what is my personal opinion. Finally we will analyze some developments for the coming months that can be of vital importance for the value of the first Cryptocurrency.

What is the Bitcoin?

Many will know what the Bitcoin is, I’m not going to tell them anything new. But We cannot analyze the evolution of its price if we do not know the basics of this Cryptocurrency. Those things that anyone should know before embarking on an investment like this, and unfortunately few people seem to be interested.

Bitcoin was created in January 2009 by one, or several people, called Satoshi Nakamoto. This was the first Cryptocurrency to see the light, allowing people to send and receive funds without the need for an intermediary as occurs in traditional monetary systems. In turn, one of the most important aspects for Bitcoin enthusiasts is the fact that it is a decentralized payment system.

This implies that the network is not controlled by anyone in particular or any institution, not even a central bank. Instead, transactions are validated by a community called miners who use their computers and hardware equipment, i.e. their computational power, to solve complex mathematical problems. For This work they receive rewards, either by new BTC created or by the commissions paid by the people for the transactions.

All This is given thanks to a technology that has been in the mouth of the whole world in the last months that is the technology blockchain. If we wanted to draw a parallel with something that surely everyone already knows, we could say that the blockchain is like a great ledger where transactions are recorded. That has several interesting features, but undoubtedly the most important is the immutability, which prevents anyone can modify a transaction confirmed.

Other aspects that we must know and are important of the blockchain technology of Bitcoin is the fact that it is composed of blocks, so in Spanish it is called chain of blocks. Each One of them contains transactions that once validated the block is added to the rest forming a large chain that grows continuously.

Each block is created once every 10 minutes approximately, and is capable of processing up to 7 transactions per second. The commissions that are paid to send a transaction will depend on how many people are using the system, or what is the same as saying that both the blockchain is saturated.

Today we can say that the Bitcoin project has achieved a great success, although there is still a long way to Go. From its beginning until 8 years later, at the end of 2017, the price increase of the penny until the $20,000. And This may not be the greatest achievement, but to provoke a revolution that has caused more than 1,600 altcoins (cryptocurrencies alternatives) to be born.

This is a brief summary of Bitcoin, but now you have some idea of what the project is about and we can start predictions for the 2020. Although not without first discussing some considerations before using all your money in this currency.

Bitcoin prediction for 2020

Price prediction and issues to consider

The reality is that no one can predict for certain the price of the cryptocurrencies, because if so we would all be millionaires. In the Criptos sector, volatility is a present component all the time, making it move up or down momentarily for no apparent reason. This makes predictions very difficult to achieve.

That’s Why it’s important to focus on important aspects, fundamental analysis, that will allow you to analyze future events and their level of certainty and the impact that this can cause. Of Course This is not easy, but if we focus on your technology, roadmap, associations and regulations it can be something simpler.

Still It can be a very difficult task, even for people who make a lot of money for doing this all day. Imagine how complicated it can be for anyone who takes it as a hobby. However, if we can carry out a long-term analysis and believe, thanks to our own analysis, that Bitcoin or any Cryptocurrency has a positive perspective, it is best to invest and not worry so much about the small swings that occur in a way Daily.

Finally, I have to say that we must avoid at all costs investing in how exciting a prediction can be. Many will have come to my post waiting for a prediction talking about the thousands of dollars they can win, but my intention is to be as honest as possible. If It were so easy we would all do them, and there wouldn’t be so many people trying to sell their course or their predictions.

My goal with this post, and with any other, is that you learn more, that you make better decisions. If you decide to invest is because you really believe in it and not because you just read it.

Today you can run to buy BTC to your favorite exchange, but the reality is that from here to four or five months little you remember this post, and when a fall occurs the reality is that you make bad decisions. However, when one does its own work it possesses the convictions and the mentality to face any adversity that the market present.

Those millionaires who bought when the Bitcoin was worth $10 did not rush to the first decline or the first negative news they found, but had studied everything they found in their path and made a decision they kept in spite of everything.

Bitcoin prediction for 2020

Price predictions for 2020

One of the most well known and controversial predictions is that made by the expert in computer security and businessman John McAfee. This industry personality is known for being the creator of the popular McAfee antivirus, as well as some eccentricities.

He is Also well-known in the cryptocurrencies industry for writing peculiar predictions on his Twitter account. Although today we know that companies have paid for doing these promotional work, where he spoke of the potential of a new altcoin.

However, in 2017, McAfee made a risky prediction for the Bitcoin price in 2020, which would reach $500,000. Although This is not exactly the most striking, because although it is a very high number of enthusiasts believe that it is possible, but the fact that failure to comply he promised that he would eat his private parts in a live broadcast on television.

In spite of this, surely it will not be the strangest thing that we see in it, but yes something quite probable, since in the last time it has decided to redouble the bet and now said that it expects that it is $1 million. He Seems to be quite confident in the outcome, even though the statistics do not seem to be on his side.

Bitcoin Roadmap

We have Already discussed that an important aspect of Bitcoin, which is well worth observing, is the progress of its roadmap and the objectives ahead. This, together with the regulations, compose an important part of the evolution of its price. We See Some particular issues about this.

Bitcoin prediction for 2020

Technical Developments

Although Bitcoin has a clear advantage for being the first Cryptocurrency, the largest market capitalization, regulations and real-life use, the transaction performance is still quite poor.

In fact we have seen many other cryptocurrencies that are cheaper to use as well as more scalable.

The first against the Bitcoin is that the minimum to be expected to confirm a transaction is 10 minutes, as long as there is no congestion in the network. Other currencies, such as Ethereum, can verify transactions in just 16 seconds.

Secondly there is the problem of the commissions, when the network is used by many people at the same time these are increased to cost dollars instead of pennies.

Finally we find the most important problem, Bitcoin only confirms 7 transactions per second. This is because the problems of scalability have not yet been tackled as this Cryptocurrency deserves. For example, NEO and Ripple are able to confirm thousands of transactions a second, if Bitcoin finally wants to transform itself into a global payment system, it must work enormously in this regard.

A company called Lightning Labs (which has received investments from very important companies such as Twitter, PayPal and Litecoin) works on a protocol that seeks to terminate this problem once and for all.

Surely Many will already know this technology that is called the Lightning Network, which is believed to increase Bitcoin transactions up to millions per second. But The best thing is that because of this, the transactions will be much faster and also less expensive.

A technology like this, if successful, could mean a huge increase in the Bitcoin price in the future.

Regulations

Even though Bitcoin has been with us for almost 10 years, recent months have begun to talk about the issue of regulations. Many believe that if governments begin to regulate this will negatively affect the price of cryptocurrencies, including myself.

On the other hand there are people who argue that the regulations could be very beneficial for Bitcoin, as occurs for example in Japan.

In 2017, this nation was the first in the world to fully regulate the Bitcoin as it does with the financial services industry. In fact, the Japanese government has put the Bitcoin in the category of assets that includes the yen.

Since then, Japan has seen how the Cryptocurrency’s marketing volumes increase. The people use it in the day to day, being able to spend this in more than 200,000 shops.

The arguments of this trend are that if these regulations are applied at the global level, it will help to give the Bitcoin greater legitimacy. Not only Does it help people to trust it, but the big financial institutions start investing. In this way the price will increase.

In my opinion this is not entirely true, as the cryptocurrencies, and especially the Bitcoin, were created with the intention of escaping government control. To all those measures that inevitably lead to disastrous economic cycles. The increase in its volume is easily explained in the wake of the increase in its price, which has led to unprecedented media coverage and has driven its popularity.

If We let governments regulate them they can create a false sense of security, but in return we will lose the freedom to decide what to do with our money and how it behaves. Big investors will Enter the market, but along with them all that great speculation that inexorably lead to the bubbles that we hate so much.

Now It remains for you to analyze all the questions on this point and draw your own conclusions. But remember not only analyzing what can happen in the immediate context and in the short term, but what could happen from here to 10 years if that happened. Japan may have many regulations, but the reality is that its GDP does not grow since the 90.

Competition

While Bitcoin is the first Cryptocurrency and number one, there are hundreds of other projects eager to snatch the place. The vast majority are built on other blockchains, such as Ethereum, but there are also independent projects that have turned to the difficult task of fighting the tough battle that implies being a payment system.

There are No guarantees of what Cryptocurrency will be the winner of this contest, so it is important to always be investigating what other projects are doing. The example of the search engines is the most interesting to draw a parallel.

There is Also the threat of the cryptocurrencies created by the central banks, as is the case of the Venezuelan government that has issued the Petro. This is certainly a possible threat, because if we look at the history of money, private banks were the first to be responsible for issuing the money on paper. Although It was finally the governments that monopolized this task by creating the consequences we already know, inflation and economic crises.

Bitcoin prediction for 2020
Is Bitcoin a good investment?

Before We continue we need to point out that this is not an investment council. I Only base my opinion on all the information we have analyzed above, nothing is guaranteed. Always Ideally you take all this and do your own analysis, which is based on this information added to your research work.

I Believe that in the future many cryptocurrencies will offer enormous value to society and therefore be able to multiply its value. Bitcoin is a very stable currency and the one that marks the step of the market, having a huge competitive advantage for this. This is Not to say that there are no risks as we have seen before, but that analyzed periodically can be controlled.

Conclusion

After This it is difficult to add much more. I Think I have covered all those important aspects that I think can be influential factors in the value of Bitcoin. You Can Follow the BTC price on our website, but never forget to do your own homework. Not bad that you read blogs and news sites constantly, but not write all this. But at the end of the day, we are alone in our investments.

We’Ve seen what different personalities thought within the Bitcoin environment, and it’s an important kick to start our research. From there we can deepen the arguments that led them to hold those values for the 2020 and convince ourselves that it is something that could happen or not.

Now I would like to know what you think of the predictions, what is your prognosis and your arguments for the 2020. Sharing we can all benefit from a greater amount of information.