Cannacord Genuity, a financial advisory firm, thinks Bitcoin's price could match its maximum $ 20,000 by 2021 at the latest.
The prediction of Cannacord is based on the similarity between the four-year Bitcoin price cycles between 2011 and 2015, followed by 205 to 2019.
The company believes that Bitcoin halving can have a significant impact on these price cycles. 50% of the Bitcoin Mining Remuneration is reduced for halving. This happens every four years, the closest in 2020, when the 12.5BTC to 6.25BTC will be reduced.
However, Cannacord points out that these conclusions are based solely on the observation of previous cycles and cannot be considered a reliable fundamental analysis.
Analyst Michael Graham pointed out that changing the way cryptocurrency controls could affect this growth, making it hard to predict the future price of cryptocurrency .
Still, Cannacord's prediction that Bitcoin will reach $ 20,000 by 2021 is still one of the milder ones. For example, such John McAfee still stands by the claim that by the end of 2020, Bitcoin will reach $ 1 million.
My steemit: https://steemit.com/@istrednepohronie
My steemit for travel: https://steemit.com/@cryptowithlubos