Type to search

Bitcoin News

Bitcoin (BTC) could reach anywhere from $20K-$50K after halving, Hedge Fund Manager Predicts

Share

According to a new evaluation, Bitcoin’s recorded mining-reward halving in May 2020 could bequeath values for the cryptocurrency in a range between $20K and $50K.

Charles Hwang is the managing member of a small hedge fund Lightning Capital and is also an adjunct professor at Baruch College, he describes a multiple of bitcoin’s current price around $7,500.

Hwang in a recent post on Medium stated that he assumed demand holds steady at 633,000 bitcoin through 2021, while mining rewards drop to 328,500 bitcoin a year from the current pace of 657,000 a year. He added,

“This sudden shift in the supply curve will most likely be the catalyst for the next bitcoin bull run.”

Hwang’s prediction

“Lightning Capital is a small hedge fund, with roughly $50K of assets, but Hwang’s prognostication appends to an increasing number of estimates from investors and analysts attempting to assess the underlying impact of the halving – where the number of bitcoin mining rewards performed every 10 minutes is sliced in half. Following the cryptocurrency’s 11-year-old design, the cut happens every four years. Hwang said,

“There have been many people who claim there is no demand for bitcoin.” “However, the data from LocalBitcoins and dark markets demonstrates people are purchasing bitcoin.”

Bitcoin around the time was trading at $7,220 between a bearish trend and narrowing volatility. BTC has to hold tight on the $7,200 support or will risk exploring areas below $7,000. The ideal arrangement will be to reform the support above $7,500 and concentrate on dealing above $8,000.

Join Bitxmi Exchange

Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

Tags:

1 Comment

  1. Pingback: Bitcoin (BTC) could reach anywhere from $20K-$50K after halving, Hedge Fund Manager Predicts | Crypto Cannibal

Leave a Comment

Your email address will not be published. Required fields are marked *

bitcoin
Bitcoin (BTC) $ 11,914.25 2.37%
ethereum
Ethereum (ETH) $ 369.82 2.53%
tether
Tether (USDT) $ 1.00 0.08%
ripple
XRP (XRP) $ 0.244683 1.18%
bitcoin-cash
Bitcoin Cash (BCH) $ 243.92 2.57%
binancecoin
Binance Coin (BNB) $ 28.99 4.39%
chainlink
Chainlink (LINK) $ 10.43 4.01%
polkadot
Polkadot (DOT) $ 4.03 0.38%
cardano
Cardano (ADA) $ 0.103034 5.16%
litecoin
Litecoin (LTC) $ 47.22 1.41%
bitcoin-cash-sv
Bitcoin SV (BSV) $ 157.22 1.75%
usd-coin
USD Coin (USDC) $ 1.00 0.06%
eos
EOS (EOS) $ 2.54 0.89%
crypto-com-chain
Crypto.com Coin (CRO) $ 0.110381 0.10%
monero
Monero (XMR) $ 121.85 4.25%
tron
TRON (TRX) $ 0.025552 2.07%
stellar
Stellar (XLM) $ 0.083249 3.47%
tezos
Tezos (XTZ) $ 2.11 5.22%
cdai
cDAI (CDAI) $ 0.020874 0.13%
okb
OKB (OKB) $ 4.67 1.34%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 11,929.68 2.53%
cosmos
Cosmos (ATOM) $ 5.29 6.53%
neo
NEO (NEO) $ 17.85 2.11%
leo-token
LEO Token (LEO) $ 1.23 1.10%
huobi-token
Huobi Token (HT) $ 4.38 1.09%
nem
NEM (XEM) $ 0.110843 2.32%
dai
Dai (DAI) $ 1.01 0.09%
binance-usd
Binance USD (BUSD) $ 1.00 0.13%
iota
IOTA (MIOTA) $ 0.268418 3.59%
vechain
VeChain (VET) $ 0.010955 5.16%
dash
Dash (DASH) $ 72.89 7.41%
zcash
Zcash (ZEC) $ 62.40 2.90%
ethereum-classic
Ethereum Classic (ETC) $ 5.15 1.71%
theta-token
Theta Network (THETA) $ 0.598774 8.85%
uniswap
Uniswap (UNI) $ 2.94 8.82%
filecoin
Filecoin (FIL) $ 31.62 1.15%
maker
Maker (MKR) $ 554.82 3.86%
uma
UMA (UMA) $ 8.46 3.62%
omisego
OMG Network (OMG) $ 3.24 4.72%
havven
Synthetix Network Token (SNX) $ 3.52 9.85%
yearn-finance
yearn.finance (YFI) $ 13,658.21 8.58%
celsius-degree-token
Celsius Network (CEL) $ 1.11 8.52%
compound-governance-token
Compound (COMP) $ 94.51 9.30%
ontology
Ontology (ONT) $ 0.546162 4.01%
compound-ether
cETH (CETH) $ 7.39 2.69%
aave
Aave (AAVE) $ 34.33 12.65%
ftx-token
FTX Token (FTT) $ 3.59 0.18%
true-usd
TrueUSD (TUSD) $ 1.00 0.06%
dogecoin
Dogecoin (DOGE) $ 0.002603 0.33%
paxos-standard
Paxos Standard (PAX) $ 0.999083 0.08%