In about nine months, Bitcoin (BTC) will see the next block prize discount, so we will witness the event called halving. However, in spite of this rapidly escalating event, the crypto money market stagnated, creating a narrow trade gap. However, a model created by veteran analyst PlanB shows that if history repeats itself, there are many dates in which Bitcoin prices will rise before halving. In fact, the statistician’s chart implies that the BTC will increase by 100% by May next year.
According to PlanB, Bitcoin will see $ 20,000 in May
The bitcoin halving incident is now nine months away. In May 2020, the number of BTCs given in each block will be halved, resulting in a positive supply shock. PlanB, a leading industry analyst claiming to be followed by major investors, shared a new chart. The successful analyst predicted that in May, BTC will trade at $ 20,000 and rise to 100% higher than its current level.
You see, Bitcoin halved 9 months before the price halved. More specifically, nine months before half of 2012, the BTC traded at $ 5, but with halving the price was $ 12. The same thing happened in the halving event of 2016. While this may seem unreasonable, there are currently analysts predicting $ 20,000 for the BTC. Tom Lee from Fundstrat recently appeared at Fox Business to talk about a $ 20,000 price estimate.
Tom Lee and Murad Makhmudov target $ 20,000
Tom Lee claimed that the cryptocurrency was a safe harbor presence. This is a narrative supported by the fact that BTC has made a first-class transaction in markets such as Hong Kong and Argentina. Bearing this in mind, Lee said Bitcoin could end the year at a much higher price than it is now – potentially at an all-time high of $ 20,000 or more.
Fundstrat analyst previously mentioned factors that could be a blessing for Bitcoin. These include the introduction of the Libra, which draws attention to the cryptocurrency field, Donald Trump’s ardent anti-crypto tweet and macroeconomic turmoil. In addition, Murad Makhmudov said that Bitcoin will soon test the $ 9,750 level. However, according to the analyst, Bitcoin will see a sideways price movement next month and will continue to rise şekil steadily ”and eventually rise to $ 20,000.