Bitcoin (BTC) Price Likely to Hit $20,000 by Year’s End: Prominent Crypto Trader
In a recent interview with U.Today, top crypto YouTuber and Bitcoin trader Carl Eric Martin shared his view on why the Bitcoin price may surge this year to reach $20,000 by the end of 2020.
Right now, Bitcoin has regained a tiny bit of its losses and, at press time, the major cryptocurrency is trading slightly above $8,000, as per figures from CoinMarketCap.
‘BTC inflation to get cut in two’
Carl Eric Martin is a strong Bitcoin believer and he reckons that, by the end of 2020, BTC is going to surge to at least $20,000.
The main reason, Martin says, is going to be the Bitcoin halving in May. Martin claims the halving is a crucial event, as it will drive inflation rates to half of what they are now. And this happens every four years, he says. Thus, Bitcoin was initially made to resist inflation.
‘Previous halvings radically pushed the price up’
This is going to be the third Bitcoin halving and, after the previous two, Martin says, the BTC price received substantial momentum. However, it does not necessarily mean that this time the major crypto will soar in price, he adds.
He predicts that the attention from the market to Bitcoin before and after the halving is going to be tremendous.
'Very bullish regarding June 2020'
The trader also said that he is particularly bullish on June 2020, as this will be the month right after the halving. However, the price surge could take place, as per him, only by the year’s end – BTC may hit $20,000.
Even if the flagship currency does not hit $20,000 by the end of 2020 or early 2021, by that time BTC will still be worth much more than it is today, Carl said.
His attitude towards Bitcoin is as follows:
“I believe that Bitcoin is fundamentally game changing and it's a huge revolution for the world economy and actually the world in general. It's a paradigm shift.”
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