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According to the co-founder of Kenetic Capital, Cihan Chu, now the market has all the conditions for a rise in price Bitcoin (BTC) to $ 15,000 by mid-2020.
On CNBC, the businessman pointed out the key growth drivers for the first cryptocurrency.
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In addition to reducing the miners' rewards in May thisyears or the so-called halving, the reasons for the increased demand for BTC were market sentiments close to panic after the outbreak of coronavirus in China, as well as global economic instability. All these factors prompt investors to seek new directions for investment.
Cihan Chu said:
"The reduction in mining rewards, as well as trembling in the markets, are yet another reminder that Bitcoin is less risky and offers potentially higher returns."
In January, the first cryptocurrency demonstratedthe best results at the beginning of the year for the last seven years. According to the results of the first last month, the coin jumped by almost 40%, this is the highest figure since January 2013.
Now Bitcoin is holding just below $ 9,300, on the night of Tuesday, February 4, the correction phase began after BTC briefly tested values above $ 9,400.