As NewsBTC has reported many times previously, the industry is expecting the Bitcoin price to react positively to the Bitcoin halving. However, most popular price models anticipate the real post-halving gains will occur in 2021. Previously, major bull runs have happened in the year following the halving itself (2013 and 2017).

Mashinsky says that most people are underestimating the impact of the halving. He takes the popular opinion that global political uncertainty makes the leading crypto asset increasingly popular.

Calling Bitcoin “the doomsday insurance”, he states:

“I think that Bitcoin ends the year with a new high. I estimated $30,000 but it’s going to be somewhere between $20,000 and $30,000.”

He comments of various issues still preventing the mass adoption of crypto assets:

“For mass adoption we need to fix the [user experience] issue, we need to provide more utility – less volatility, more utility.”

 

As BTC edges ever closer to $10,000, some popular social media personalities believe that the world’s biggest cryptocurrency has already started its bull run — and prices could balloon to $100,000. Over the course of January, BTC/USD has gained over 30% — narrowly behind Tesla stock as the best major investment opportunity available in 2020. Nicholas Merten, also known as DataDash, told Cointelegraph that the market won’t see a parabolic run until BTC reaches $20,000. He added: “That’s really what I define as a key bull market for cryptocurrencies, but we’re trading higher. [...] We’re going for higher highs and higher lows, those are all positive signs.” DataDash’s target for the next bull cycle? Between $80,000 and $100,000.