During a recent AMA session at the BlockDown cryptocurrency conference, Erik Voorhees - CEO of ShapeShift, made his prediction about the future of Bitcoin (BTC). He asserted that the upcoming block reward halving event could be the catalyst that pushed BTC prices to an all-time high.

Although understanding Bitcoin has always been unpredictable, Voorhees thinks that the leading cryptocurrency seems to have many opportunities to go up.

Voorhees said:

"12 months from now, I think Bitcoin has an 80% chance of reaching over $ 50,000."

However, Voorhees added that although his predictions are great, he "is completely wrong and it is always a futile task to try to predict these things." In fact, Voorhees adds:

"What people should do more now is to look back on past predictions and see their accuracy, because they are rarely right."

Given the current turmoil in global financial markets, such an optimistic outlook seems to be out of reach for Bitcoin. When unemployment rises, oil prices plummet, and investors flee to safe, economic instability can increase the likelihood of a major recession, and the possible consequences. spilling into the cryptocurrency industry.

However, market instability does not seem to discourage Voorhees and other crypto celebrities - who are also bullish on Bitcoin.

Indeed, BitMEX CEO Arthur Hayes has confirmed that the No. 1 cryptocurrency is poised to explode back into a bull market by the end of the year. The former institutional trader believes that the direct consequence of financial and monetary solutions that governments around the world are trying to implement, will push BTC prices to an all-time high of $ 20,000 this year.

Hayes declares:

“Everyone knows the change is in us, which is why central banks and politicians will throw all their tools into this issue. And I will repeat, that is inflation, because more fiat currencies will follow the decline in the supply of goods and labor. There are only two things to own during the transition to any new system, gold and Bitcoin. ”

At the same time, Tone Vays, a former Wall Street trader and VP at JP Morgan Chase, has repeatedly argued that an economic crisis could help introduce Bitcoin's safe-haven features worldwide. Technical analysts believe that this uncertain environment is what makes BTC resilient.

While "extreme fear" continues to dominate the market, Vays claims to be bullish than ever, he thinks it is time to take advantage of this great opportunity within reach.