The crypto market looks pretty good today, with most digital assets trading in the green.
This year is expected to be great for the crypto industry and especially Bitcoin. Despite the volatility of the crypto market, there are various optimistic predictions regarding the most important digital asset.
Bitcoin is about to make a huge comeback
Bitcoin Bull Thomas Lee who is the head of research at Fundstrat Global Advisors predicts another great year for BTC.
The analyst believes that Bitcoin is about to make a massive comeback.
Lee commented the following during a CNBC interview:
“2020 should be great for Bitcoin because you’ve got, number one, the halving happening – the block rewards for miners getting cut in half. That’s a big supply-demand change. I think last year the White House killed the Bitcoin rally, with their opposition, but with the presidential elections underway, it’s not going to be in the headlines.”
With the Nasdaq closing at yet another new high, @fundstrat's Tom Lee gives his predictions for stocks and reveals what areas of the market he finds attractive pic.twitter.com/GAuw8CHE8h
— CNBC's Fast Money (@CNBCFastMoney) January 23, 2020
He continued and explained that “This is bullish for Bitcoin. And then with geopolitical tensions in the Middle East, that’s good for crypto. So, there should be a lot of tailwinds. We’re getting a lot more interest in it as well from our clients.”
At the moment of writing this article, BTC is trading in the green and the most important digital asset is priced at $8,415.22.
Speaking of predictions, one of the most popular ones these days is BTC hitting $100k by 2021.
Popular crypto analyst PlanB is analyzing this prediction.
He’s also checking whether the upcoming halving, which will slash the amount of BTC that miners earn for processing transactions in half, will convince miners to switch off their rigs.
You can check out his tweet that sparked a debate below:
Do you think May 2020 #bitcoin halving of miner reward will cause a mining death spiral or miner capitulation?
— PlanB (@100trillionUSD) January 22, 2020
During the past week, BTC saw a strong surge and this week the crypto market saw a natural correction following the rise in prices.
