July 21, 2024

Market factors will raise the price of BTC to $ 15,000 by mid-2020

Market factors will raise the price of BTC to $ 15,000 by mid-2020

According to Jihan Chu, co-founder of Kenetic Capital, the market now has all the conditions for an increase in pricesBitcoin (BTC) to $ 15,000 by mid-2020.

On CNBC, the businessman pointed out the key growth drivers for the first cryptocurrency.

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 the jitters in the markets, were yet another reminder that Bitcoin is less risky and offers potentially higher returns.»

In January the first cryptocurrencyshowed its best early-year results in the last seven years. At the end of the first month, the coin jumped by almost 40%, this is the highest figure since January 2013.

Currently, Bitcoin is hovering just below $9,300. On the night of Tuesday, February 4, a correction phase began after BTC briefly tested values ​​above $9,400.

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