As the cryptocurrency market continues expanding, experts are giving their opinion about the market and how Bitcoin (BTC) will move the next years. In a recent report released by Travis Kling, the founder and CTO of Ikigai Asset Management, Bitcoin could achieve a new all-time high in 2020.
Bitcoin Could Surpass Its All-Time High In 2020
Ikigai Asset Management has released its tenth crypto update. In this article, the company talks about Bitcoin, its price and how the market is currently performing. According to it, the crypto market could change the world and increase wealth among individuals.
One of the most interesting things is related to Bitcoin’s price. They believe that the digital currency could surpass its all-time high from 2017 just next year. It is worth pointing out that Bitcoin experienced the fourth-best quarterly performance since 2012.
In addition to it, they explained that it is possible to have a new all-time high in 2019 and it is likely to happen in 2020. They had to change their predictions due to the fast expansion of the crypto space during the last months.
On the matter, they commented:
“In our Monthly Update letter that went out June 1st we said, “last month we stated that new all-time highs were well within reach for 2020. We now believe that may have proven too conservative, and there is a meaningful chance new ATHs are possible in 2019, and likely in 2020.”
At the moment, there is also a very positive sentiment in the market that the company is linking to Libra, the digital currency that Facebook announced almost two months ago. Although Libra has many regulatory issues to face and solve, the market is very excited about the effects that it could have on the space.
Libra is the digital currency that was announced by Facebook and that is expected to be launched in 2020. Although Facebook is working on it, there have been many regulatory agencies requesting the company to provide information about the crypto-related project.
Finally, Kling said that we are in a bull market but we are currently experiencing a healthy correction. With it, investors have time to accumulate more coins before the digital asset starts growing again.
At the time of writing this article, CoinMarketCap shows that Bitcoin is being traded around $10,540 and a market capitalization of $187 billion. In the last 24 hours, Bitcoin remained stable.
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