Crypto investor explains why BTC could hit $20,000 with the next wave of adoption

20 Jan, 2019 | Updated: 25 Jan, 2019
by Richard Allen
Opinion
Crypto investor explains why BTC could hit $20,000 with the next wave of adoption

Since Bitcoin breached the $20,000 mark before plummeting, crypto investors the world over have been trying their luck at predicting when we’ll see the world’s biggest cryptocurrency reach a new all-time high.

Alistair Milne, chief investment officer at Digital Currency Fund, recently tried his hand at the prediction game, stating that Bitcoin used to be an “asymmetric investment opportunity.”

Milne explains that “the asymmetric opportunity is absolutely explicit” due to increased regulatory certainty and the fact that Bitcoin has fallen around 80% from its all-time high. Milne went further to say that “Bitcoin may drop and/or eventually retest its ATH… at a minimum.”

He explained that “each wave of adoption is an order of magnitude bigger than the last.” Therefore, with the increased number of consumers and the ever increasing  “price predictions of HODL’ers,” Bitcoin will climb past $20,000. Furthermore, with Bitcoin now reaching mainstream awareness, the FOMO will be “larger than ever.”

As a self-confessed altcoin skeptic, Milne explains that investors are aware that Bitcoin is like trading Gold with 100x leverage, “and, next year, Bitcoin’s inflation/production rate will actually be lower than Gold’s.”

“No-one appears to doubt the usefulness of Gold as an investment, they shouldn’t doubt Gold 2.0.”

Read more: 9 Bitcoin price predictions for 2019 by crypto experts, Is Bitcoin dead? 8 reasons why it is NOT, Will Bitcoin recover in 2019?8 long-term Bitcoin price predictions by experts

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Read more about:Bitcoin (BTC)

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