<p dir="ltr">The CEO of the blockchain platform Nexo Antoni Trenchev has claimed that Bitcoin could hit $50,000 in 2020. Trenchev made the statements today during an interview with <a href="https://www.bloomberg.com/news/videos/2020-01-03/bitcoin-could-go-to-50-000-by-end-of-2020-says-nexo-s-trenchev-videohttps://www.bloomberg.com/news/videos/2020-01-03/bitcoin-could-go-to-50-000-by-end-of-2020-says-nexo-s-trenchev-video" rel="noopener">Bloomberg in Berlin</a> when quizzed about the future of the coin.</p>
<p dir="ltr">According to him, Bitcoin is an incredible asset that has continued to perform at unprecedented growth since its inception in 2008. Trenchev also likened Bitcoin's ascent up to $20,000 as reminiscent of German hyperinflation after the first world war.</p>
<p dir="ltr">“It delivers systematic asymmetric returns and the only thing that we have seen close to anything like this has been the rise of the US dollar against the German paper mark in the 1920s.”</p>
<p dir="ltr">When quizzed by Bloomberg on how high the coin could reach in 2020, Trenchev predicted that the coin would hit $50,000. This is a similar prediction to that of CNBC journalist Joe Kernen who predicted late 2019 that BTC  would hit $55,000 during the period of the anticipated Bitcoin's block halving expected to occur in May.</p>

<h2>Bitcoin Hits $7,300 as anticipation grows ahead of halving</h2>
Bitcoin has continued to make gains on the dollar since the turn of the year despite initial expectations that the downward trend of 2019 would continue. As at the time of writing, BTC gained 2.31% in the last 24 hours and is currently valued at $7,333.

It is thought by some analysts that the renewed tensions between the US and Iran are partly the reason for the renewed positive movement by Bitcoin. Both nations have been engaged in tense diplomatic accusations after the US embassy in Iraq was invaded by suspected Iran backed movement.

Despite these initial gains, analysts still maintain that Bitcoin could go lower than the $7,000 before an upward trend. In addition, the highly anticipated halving is expected to initiate a bullish process for the <a href="https://www.cryptoknowmics.com/crypto/" rel="noopener">leading coin</a> with several predictions given by analysts.

Bitcoin To Hit $50,000 in 2020 claims Nexo CEO

I am olowoporoku adeniyi, writer, editor and crypto evangelist, with five years experience in the Blockchain industry.

Bitcoin To Hit $50,000 in 2020 claims Nexo CEO

Top Picks