Despite Bitcoin Drop to $7,800, Cheery Analysts Expect BTC to Run to $20,000 in 2019


In a recent interview with lifestyle publication The Independent, Oliver Isaacs, an industry analyst, explained that Bitcoin has the “potential to hit $25,000 by the end of 2019 or early 2020.” Isaacs looks to the fact that there have been a number of fundamental catalysts behind this move, pointing a finger at the U.S.-China trade war as a catalyst for the growth of Bitcoin, widely deemed a safe haven or hedge asset in spite of its volatility and youth.

It is important to note that these firms’ entrees in the cryptocurrency space shouldn’t have a direct impact on the value of Bitcoin, but these corporations have and will continue to play a key role in improving the industry’s image, which was slammed after 2018’s 80% decline. Simply put, Bitcoin rallying to $20,000 in the coming months would invalidate the asset’s cyclicality, which shows that BTC doesn’t register a new all-time high until the block reward reduction, slated to arrive in May 2020.