The cryptocurrency market may sometimes resemble a roller coaster with similar unpredictable turns and elevations. However, one is always excited to get a glimpse of the future and to foresee the outcome of the events. We have collected the best forecasts of traders and crypto analytics for 2020. Let’s read, memorize and definitely check in the end of the year!
Shall we start with the king of the cryptocurrency – the Bitcoin. Last year (2019) marked widespread dissemination of BTC among companies and an upsurge of price, that can be explained by political tensions between the US and Iran. Crypto analytics expect another leap of Bitcoin in 2020. According to some estimates, it can reach $15,000-20,000. At the same time, there may be an increase in its competition with Altcoin entailing the growth of demand.
However, the rivalry in the world of cryptocurrencies does not end here. Economic competition between the major powers will intensify in 2020. In order to break through, states strive to use the blockchain technology for issuing new high-performance currencies. China, for instance, is planning to start public experiments with its digital yuan and launch the first regulated crypto bank.
The significance of security will likewise grow. New AML requirements will be established and wallets for storing assets will be created. At the same time new legal and regulatory problems may arise regarding the confidentiality of data transferred when using blockchain technology and electronic digital financing.
The new 2020 may trigger the collapse of many companies both new and old ones, or, to the contrary, open the way into a brighter future. It still remains a puzzle what scenario is awaiting Facebook Libra. The project is to be launched in the first half of the year. Facebook representative also stated in November 2019 that more than 30 projects were built and 51,000 transactions were registered in the Libra network. This project undoubtedly merits special consideration as it is capable of influencing the future of digital assets, international money transfers and the lives of regular persons throughout the world.
At the same time, whatever 2020 brings, our Cryptocean team always hopes for the best and encourages its subscribers to be optimistic. Follow the recent events in the crypto world with us and you will always be one step ahead!