Bitcoin News Today – Headlines for December 11
发布时间：2019-12-12 14:12:48 发布人：TokenString
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Charles Hwang said BTC price could be between $20k and $50k after the 2020 halving
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BayernLB predicted that the halving next year could push BTC price to as high as $90k
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Data from dark markets and LocalBitcoins shows that people are purchasing BTC
Bitcoin News Today – According to a new estimate, the scheduled mining rewards halving of Bitcoin (BTC) in May next year could leave the prices of the digital currency in a range between $20k and $50k. Charles Hwang – a managing member of the hedge fund Lightning Capital and an adjunct professor at Baruch College – made this bullish Bitcoin price prediction 2020.
Charles Hwang Projects a Bullish Future for Bitcoin (BTC)
The projection of the professor represents a multiple of the current price of Bitcoin around $7,500. In a post on Medium, Hwang said that he assumed it holds steady at 633,000 BTC through 2021, while block rewards drop to 328,500 BTC a year from the present pace of 657,000 a year. In the blog post, Hwang wrote:
“This sudden shift in the supply curve will most likely be the catalyst for the next Bitcoin bull run.”
Bitcoin (BTC) Price Today – BTC / USD
#
Name
Price
24H %
1
Bitcoin(BTC)
$7,157.80
-0.53%
Lightning Capital is a little hedge fund with assets worth about half a million dollars. However, the predictions of the professor add to a growing number of estimates from analysts and investors trying to gauge the possible impact of the halving event. The halving will see the Bitcoin mining rewards created every ten minutes slashed by 50 percent.
The halving event takes place once in every four years, and it is in accordance with the 11-year-old design of the digital currency.
Bitcoin’s 2020 Halving Could Push Price to $90k – BayernLB
The last two halving events in 2012 and 2016 caused the price of Bitcoin (BTC) to surge enormously. The halvings acted at catalysts to fuel huge rallies in the price of the digital currency. Earlier this year, BayernLB – German bank – also predicted that the Bitcoin’s halving next year could drive the price of the digital currency to $90k.
However, other analysts are saying that since investors know the event is coming, it theoretically should already be baked into the price of Bitcoin (BTC). In an interview with CoinDesk, Hwang said that he considered his demand estimate conservative. The professor projects that 82,000 BTCs purchases could come from online dark markets while 546,000 Bitcoin could be bought through over-the-counter (OTC) provider LocalBitcoins. Hwang said:
“There have been many people who claim there is no demand for Bitcoin. However, the data from LocalBitcoins and dark markets demonstrates people are buying Bitcoin (BTC).”
In his post, the professor advised that his research should not be constructed as investment advice.
- Charles Hwang said BTC price could be between $20k and $50k after the 2020 halving
- BayernLB predicted that the halving next year could push BTC price to as high as $90k
- Data from dark markets and LocalBitcoins shows that people are purchasing BTC
Bitcoin News Today – According to a new estimate, the scheduled mining rewards halving of Bitcoin (BTC) in May next year could leave the prices of the digital currency in a range between $20k and $50k. Charles Hwang – a managing member of the hedge fund Lightning Capital and an adjunct professor at Baruch College – made this bullish Bitcoin price prediction 2020.
Charles Hwang Projects a Bullish Future for Bitcoin (BTC)
The projection of the professor represents a multiple of the current price of Bitcoin around $7,500. In a post on Medium, Hwang said that he assumed it holds steady at 633,000 BTC through 2021, while block rewards drop to 328,500 BTC a year from the present pace of 657,000 a year. In the blog post, Hwang wrote:
“This sudden shift in the supply curve will most likely be the catalyst for the next Bitcoin bull run.”
Bitcoin (BTC) Price Today – BTC / USD
| # | Name | Price | 24H % |
|---|---|---|---|
| 1 |
|
$7,157.80 |
-0.53%
|
Lightning Capital is a little hedge fund with assets worth about half a million dollars. However, the predictions of the professor add to a growing number of estimates from analysts and investors trying to gauge the possible impact of the halving event. The halving will see the Bitcoin mining rewards created every ten minutes slashed by 50 percent.
The halving event takes place once in every four years, and it is in accordance with the 11-year-old design of the digital currency.
Bitcoin’s 2020 Halving Could Push Price to $90k – BayernLB
The last two halving events in 2012 and 2016 caused the price of Bitcoin (BTC) to surge enormously. The halvings acted at catalysts to fuel huge rallies in the price of the digital currency. Earlier this year, BayernLB – German bank – also predicted that the Bitcoin’s halving next year could drive the price of the digital currency to $90k.
However, other analysts are saying that since investors know the event is coming, it theoretically should already be baked into the price of Bitcoin (BTC). In an interview with CoinDesk, Hwang said that he considered his demand estimate conservative. The professor projects that 82,000 BTCs purchases could come from online dark markets while 546,000 Bitcoin could be bought through over-the-counter (OTC) provider LocalBitcoins. Hwang said:
“There have been many people who claim there is no demand for Bitcoin. However, the data from LocalBitcoins and dark markets demonstrates people are buying Bitcoin (BTC).”
In his post, the professor advised that his research should not be constructed as investment advice.
