Co-founder and managing partner of Kenetic Capital, Jehan Chu, in an interview with Bloomberg, pointed out three main factors by which the price of Bitcoin will reach $ 30,000 by 2020.
First of all, Chu drew attention to the entry into the cryptospace of major players in traditional business areas, including Fidelity Investment with a platform for institutional crypto-trading, JPMorgan and Facebook with projects to release JPM Coin and GlobalCoin .
“You don't have to take my word for it.” This is Facebook, this is Jamie Dimon, this is Rakuten, this is Fidelity. All come into space either through the creation of infrastructure or through the provision of services. This will contribute to the spread and development of mining, " – said co-founder Kenetic.
Another good reason why large investors will turn their attention to cryptocurrency , according to Chu, is the frustration of traditional IPOs of new technology companies such as Lyft and Uber.
Finally, the third, most convincing factor for the growth of the price of Bitcoin, he considers the upcoming reduction in remuneration for mining blocks ( halving ). According to Chu, this event, which is expected to be in May 2020, historically increases the price of Bitcoin by “two-digit interest.” The combination of all three factors gives Bitcoin (BTC) a rate of $ 30,000 per coin, he concluded.
Recall that the upcoming Halving called the important driver of Bitcoin price growth is also the founder and head of cryptocurrency hedge fund BK Capital Management Brian Kelly and the famous Chinese OTC-trader Bitcoin billionaire Zhao Dong.
Publication date 29.05.2019
Share this material on social networks and leave your opinion in the comments below.
