Bitcoin price prediction

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To make a well-researched Bitcoin price prediction that you can truly stand behind isn’t easy. Either you become that crazy dude on the internet drawing triangles and other TA patterns or another short-lived crypto-YouTuber.

But is it really that crazy to make a price prediction for Bitcoin?

The advancement in technology had converted the world into a global village. Businesses started shifting online, and there was a need for fast and secure digital cash to perform online transactions. There were certain attempts to make such a system to fulfill these needs. It was finally the year 2009 that the world saw an innovation in the world of digital cash.

Bitcoin was released as an open-source program by the anonymous developer or group of developers that called themselves as “Satoshi Nakamoto.” It’s been almost a decade since the launching of bitcoins.

In the start, it was difficult for people to understand the overall system of bitcoin. Over time as the use of cryptocurrencies increased, Bitcoin gained the trust of the users. Now it is considered as one of the safest methods to do online cash transactions.

Bitcoin $1 Million 2020

The main purpose behind the invention of Bitcoin was to develop a decentralized system that is not under any influence of central authority or a government. The blockchain network on which Bitcoin works is completely decentralized.

The network operates on the participation of all the users connected to the network. The system is secure, anonymous, and fast.

When Bitcoin was released, the main purpose was not to use it as an investment asset.

But it is very nature of cryptocurrencies to be volatile; Bitcoin is also volatile. The price varies a lot. One day it goes to all-time and high, and after a few days, the value decreases to rock bottom. This volatile nature of Bitcoin made people both rich and poor.

Bitcoin price prediction – can it make you rich?

The volatile nature of Bitcoin made it an attractive investment asset for investors. An investment where you invest small and get rich quick might sound like a scam, but in case of Bitcoin, it proved true for many people.

Before Bitcoin reached its all-time high of almost twenty thousand dollars, many people had invested, and they became millionaires overnight.

Did they predict that? Or were they all just lucky? How could someone be able to predict Bitcoin’s price?

Bitcoin rich

What determines the value of Bitcoin?

Predicting the future value of Bitcoin is one of the hottest topics of the crypto world. As discussed earlier Bitcoin is a decentralized currency; this means that there is no central authority that controls its value. 

Fiat or traditional currencies are controlled by banks that could change its value based on economic conditions or certain factors. The value or price of Bitcoin, on the other hand, could not be changed or altered by a single person.

It is important to understand that Bitcoin is not a tangible currency. It doesn’t exist in the form of physical form. It only exists in the form of code. So the value of Bitcoin is what people perceive that its value should be.  Some similar factors affect the price of Bitcoin the same as it does to traditional currencies.

Bitcoin – The gold of the internet?

Bitcoin is known as the gold of internet, it is not just a name, in reality, Bitcoin does share some properties with the gold. The main concept that makes gold so valuable is its limited supply.

A hundred years ago, it might be easy to dig the earth at certain places and get a good amount of gold in return. Nowadays, as the supply of gold is getting lesser, it is difficult to mine gold without using heavy hardware and technology.

Bitcoin the gold of the internet

Similarly, Bitcoin shares its property with Bitcoin, as in the early days of Bitcoin mining, it was easy to mine bitcoins with fewer hardware requirements. 

Nowadays, the hardware requirements are too much, and in some case, the value of mined Bitcoins doesn’t even covers the cost of hardware alone.

“I think the internet is going to be one of the major forces for reducing the role of government. The one thing that’s missing but that will soon be developed, is a reliable e-cash.”

– Professor Milton Friedman, a Nobel Prize winner in economics

Factors Determining Price of Bitcoin

Certain factors determine the value Of Bitcoin. Starting from the basic concept of supply and demand to internal governance of how bitcoin operates all affect the value of Bitcoin.

Major factors that determine the price of Bitcoin are as Follows:

  • Market Concept of Supply and Demand
  • Overall Competition of Bitcoin in Crypto Market
  • Exchanges the Bitcoin trades on
  • Regulations about it buying and Selling
  • Internal Governance
  • Events like Bitcoin Halving

Let’s discuss these factors in detail:

Bitcoin supply and demand

Supply and Demand

Like traditional products, one of the factors that determine the value of Bitcoin is the concept of supply and demand. The supply of traditional currencies is based on the overall circulation of them in the region. The discount rates, reserve requirements could also be adjusted accordingly. Thus a central authority could potentially impact on the currency’s value.

Bitcoin, on the other hand, is developed in a way that the supply of the total number of Bitcoins is limited. This impacts the bitcoin in two different ways. First, the bitcoins generated in the mining process are fixed. One day the supply of new Bitcoins will eventually stop. The only bitcoins left will circulate in the market.

The major factor in determining the future of Bitcoin is the limited supply of them. The supply will stop one day and only circulated bitcoins are those that are already mined by the system. The value might increase a lot, as this means that the supply is limited. Only time will tell what happens.

Ethereum price mobile phone


When Bitcoin was released, it was a market leader and well-known in the market. It is still the most used and trustworthy cryptocurrency.

As Bitcoin was released as an open-source program, this laid the way for new entrants in the market, and nowadays there are thousands of cryptocurrencies in the market.

Each has its properties and pros and cons. One of the top completion faced by the Bitcoin is Ethereum. Ethereum is a complete smart blockchain with the integration of its currency Ether.

Ethereum has established itself as the second dominating blockchain on the market. And is constantly improving and making its way up in the market. Ethereum is quite advanced and provided a platform to market decentralized apps on the platform.

Ethereum is quite advanced and provided a platform to market decentralized apps on the platform.

The other noteworthy competitors are Monero and Litecoin.

The world of crypto is volatile, so you never know when a new leader will come out of nowhere. Bitcoin has an edge being the older player in the market. So it has perks of high visibility and trustworthiness. These factors give it an edge over its competitors.

privacy coins

Availability on Exchanges

Just like traditional investors are interested in observing stock options on NASDAQ, NYSE and other exchanges. Cryptocurrency investors also observe how a currency is doing on various crypto exchanges. These exchanges help the investors to make decisions based on how a currency is doing on the exchanges. Some exchanges also allow the purchase and selling of coins over the platform.

One of the factors that determine the value of Bitcoin or as such of other cryptocurrencies is their availability on certain exchanges. When exchanges become famous and trustworthy, they make decisions of adding the currency on the platform. They could set rules according to their choice.

As of Bitcoin, it operates on almost every major exchange, thus giving it an edge over competitors and making it readily available to be traded. Thus resulting in its increased value.

Find the best crypto exchanges for Bitcoin

SEC and Bitcoin

Rules and Regulations

Although cryptocurrencies are decentralized in nature, still they are under rules and regulations by the exchange commissions or other related regulatory authorities. There is a debate on how to classify such digital asset as Bitcoin. 

There are two major schools of thoughts, the Security and Exchange Commission (SEC) classifies cryptos as securities, the U.S. Commodity Futures Trading Commission (CFTC) considers bitcoin to be a commodity. This creates a sense of uncertainty in the market for traders and investors.

This could impact the price of Bitcoin in two different ways; fewer regulations will provide Bitcoin with the opportunity to reach more potential investors, thus resulting in increasing its demand. The second factor is if the Bitcoin is properly regulated, its volatile nature might become stable in the future, which could prove either good or bad.

Internal Governance

As central organizations do not govern Bitcoin, this means that it relies on the developers and miners who participate in the bitcoin network. There are certain updates made to the network; some users who disagree with certain updates may leave the system. So bitcoin developers have to make sure that updates don’t affect a large user base. 

One of the drawbacks bitcoin has to face is the issue of scalability; the system is sometimes slow to perform a transaction. The number of transactions depends on the size of the block and certain occasions you might have to wait for some time for your transaction to be processed completely.

john mcafee bitcoin price prediction

Where might Bitcoin price go to in the future?

The factors we discussed earlier are important to notice if one wants to predict the future value of Bitcoin. You need to consider each factor before predicting the future value of Bitcoin.

Although it seems almost impossible to predict the outcome of something so volatile like Bitcoin, still according to some famous investors and researchers, they believe that the value of Bitcoin might go to as high as $25,000 at the end of 2019. (According to a report by the Independent)

Bitcoin Price Predictions for 2020

Prediction by McAfee

Let’s start with discussing the prediction of the creator of popular McAfee anti-virus software. McAfee is a well-known name in the world of cryptocurrency. His predictions are usually considered “insane,” but they are usually very close.

McAfee seems so optimistic and confident about the future price of Bitcoin as he predicted that bitcoin would reach around $1 million in 2020. Only time will tell whether this prediction was based on confidence, or it was just an overconfident tweet.

McAfee claims that his prediction is based on his model. If this happens, the market capitalization of Bitcoin will be a whopping $15 trillion! As of now Bitcoin doesn’t seem too close to this prediction and needs a lot of value raise to reach the McAfee prediction.

Tom Lee CEO of Fundstrat Global Advisors

Prediction by Tom Lee

Another person who’s been keen on sharing his Bitcoin price prediction is Tom Lee. And his views on Bitcoin value in 2020 is also an interesting one. Lee works for the cryptocurrency research organization Fundstrat, and he is well-known for discussing the price performance of Bitcoin live on TV. 

Mr. Lee predicts that the value of Bitcoin will reach an all-time high of $91,000 by the end of 2020. The researcher highly experiences in chart work analysis. Like all other predictions, let the time decide the actual outcome of Bitcoin.

Bitcoin Price prediction tools

There are certain tools available that could be used to come up with your prediction of the future value of Bitcoin. These tools use proper graph analysis, historical value, and data of Bitcoin value and make predictions accordingly.

Some major tools available online are Bitgur and Cointracking. Bitgur provides a Bitcoin price prediction tool, based all current trades made, support and resistance zones and trend analysis. Creating a high probability forecasting for Bitcoin.

Bitgur Bitcoin price prediction

How to predict the future value of Bitcoin

To come up with your observation of Bitcoin price and value, you could use the tools or do a manual analysis of the currency behaves in its life span. Reading forums or books by authentic researchers could also help you to come up with your prediction.

Should you invest in Bitcoin?

The volatile nature of Bitcoin has always attracted investors. It might seem easy just to invest small and get good outputs. But the very nature of Bitcoin being volatile also comes up with risks. You never know when the value of Bitcoin drops to its lowest.

If you are planning to invest, it is better to start small, learn things to observe the overall market and make the decisions accordingly.

Check out our guides if you want to invest in Bitcoin, and avoid the common mistakes.

Bitcoin Roller image

Investors cannot control certain factors. Every investment comes up with its own risk. If you have already invested in the Bitcoin, then it is better if you hold on as in the near future the supply of Bitcoin will stop, and it might open the door for Bitcoin going to its all-time high.


This is the end of the guide about our look into the concept of Bitcoin price prediction. And the certain factors that affect the value of it. There are some popular predictions that are discussed; feel free to agree or disagree as per your choice.

Some certain developments and factors will have an impact on the future value of Bitcoin in the future; only time will tell what the actual outcome will be.

Learn more about Bitcoin:

  1. Where you can spend your Bitcoins
  2. How to send Bitcoin from Coinbase to another Wallet
  3. How To Use Bitcoin ATM Guide
  4. The easiest way to buy Bitcoin

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