Bitcoin Price to Hit $55,000 after Halving, Says Morgan Creek Digital Co-Founder, Citing PlanB Analyst

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Mon, 10/21/2019 - 11:03
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    A Morgan Creek Digital co-founder promises BTC will hit $55,000 after the halving in May 2020, citing an analyst from Crypto Twitter

Bitcoin Price to Hit $55,000 after Halving, Says Morgan Creek Digital Co-Founder, Citing PlanB Analyst

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Jason A. Williams, a co-founder and a partner at Morgan Creek Digital fund, a colleague of the Twitter-active Anthony Pompliano, has cited the BlanB crypto analyst (also famous in the Crypto Twitter). The latter says that after the upcoming Bitcoin halving next year, the market value of BTC will total $1 trln, which means that the BTC price will skyrocket to $55,000.

 

The next Bitcoin halving is drawing closer

The previous Bitcoin halving took place in 2016. The next one (occurring every four years) is mathematically planned in 2020. The miners’ reward for each new generated block will be cut by two, therefore making BTC rarer and more slowly injected to the market than previously.

Many crypto experts are betting on that to see the Bitcoin price surge immensely. Various predictions have been voiced. People whose job is far away from technical analysis have named the highest figures – Tim Draper and John McAfee. The latter insists that BTC will hit nothing less than $1 mln by 31 December 2020.

However, one of the analysts on Crypto Twitter, PlanB, modestly suggests a mere $55,000 per 1 BTC after the halving takes place in May next year.

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Bitcoin’s 600,000th block has been mined

Friday last week was a significant day, whose appearance had been ‘foretold’ by many Bitcoin-wise men – block #600,000 was extracted on the Bitcoin chain. This means that only three mln Bitcoins are left to be mined as 18 mln of them have been minted already.

Some believe that this fact, along with the approaching halving event, will also contribute to the BTC price surging high.

 

What are your thoughts on the impact the coming halving is going to have on the BTC price? Share your views in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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