$60K for a single bitcoin! When will the $60,000 Bitcoin Prediction materialize?
What are the 3 main factors that can push the Bitcoin price to $60,000 and even higher?
According to the investment research company, Digital Asset Research, the bitcoin price which is currently around $10,000
will reach $60,000 by May 2020. That's about 6 times the current bitcoin price. Based on that prediction, if you invest $1000 today... you could walk away with $6000 in May 2020.
Invest $1,000,000 and you get $6,000,000 ... then you can buy yourself an island.
That's pretty sweet.
One of the main factor that the Digital Asset Research took in consideration, in order to present the $60,000 bitcoin price prediction, is the scarcity of the digital gold.
Indeed the total number of Bitcoins that will ever be created is limited at 21,000,000. That is the maximum supply of bitcoin. According to coinmarketcap.com, the current supply is just under 17,800,000 bitcoin.
There are not so many bitcoin left to be mined.
Bitcoin is a rare digital commodity. As I said earlier there will ever be only 21 million of them meanwhile the world population is approaching the 8 billion mark. As crypotuccrencies are gaining popularity and as we are moving more and more toward a cashless society, it is natural for the Bitcoin price to grow rapidly in order to reflect the increasing demand.
The second strong factor that justifies a The $60,000 Bitcoin Prediction is the bitcoin halving
that will take place on the 20th of May , 2020. On that specific day, the reward that bictoin miners get paid will be divided by 2. You see maintaining the bitcoin blockchain and securing bitcoin transactions is an expensive business that requires a lot of hardware and tremendous energy. For their work, miners are currently rewarded 12.5 bitcoin per block.
After the next bitcoin halving the reward will be only 6.25 bitcoin per block... in other words they will get half the amount of bitcoin for a work load that keeps on rising due to popular demand.
Therefore for the bitcoin mining business to remain profitable the bitcoin price has to rise.
The third factor is the arrival of big institutional investors and the astronomical amount of money that they will bring to the cryptocurrency market.
On top of that, those institutions will use physically settled futures contracts via trading platforms such as BAKKT and LedgerX.
A contract that is physically settled is a big deal, because it means that at the end of the contract, the private investor can expect the physical delivery of its cryptocurrency assets instead of a cash pay out.
Therefore the BAKKT exchange and its competitors will have to buy a huge quantity of Bitcoins and keep them out of circulation in anticipation of delivery requests.
As I said earlier the total number of bitcoin is limited and out of the current supply of 17 million, many of them are locked in vaults or cold storages.
My good friends, I am telling you, those institutional investors can have an exponential effect on the bitcoin price.
I am not a financial adviser, this is not financial advise, this is just my opinion but
the main keyword here is EXPONENTIAL. $60,000 per bitcoin might be a very conservative prediction.
So after watching The $60,000 Bitcoin Price Prediction on Youtube, if you take action and if you end up buying an island...
make sure to send me a postcard :)
I wish good health, wealth and happiness.
All bitcoin price prediction and bitcoin price analysis that I post on this site and on my bitcoin youtube channel are only the expression of my personal views on the current state of the cryptocurrency market. All contents, bitcoin news and cryptocurrency videos are for informational purpose only and should not be considered as financial advise because I am not a financial adviser.
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