Bitcoin has already surpassed the $10, 000 price level after struggling with resistant support in the past few months. Many believe surpassing this mark raises the chances of possible bitcoin rally.Consequently, to give rise to an explosive price burst. The top coin is leading with a press time price of $10, 300. The ROI is somewhere along the 200% figures and the surging has dragged with it a few major altcoin up with it. Despite the high returns however, crypto analysts are still bullish.
<h2>Bullish Prediction Bitcoin to Hit ATH </h2>
Some of whom are predicting that Bitcoin could hit its record all time high of $20, 000 by the end of the year. Meanwhile Adam Back, the CEO of blockcstream provided a much more bullish prediction that bitcoin could hit $50,000. The <a href="https://en.wikipedia.org/wiki/Proof_of_work">Proof of Work (PoW) </a>creator and Bitcoin pioneer believes that Bitcoin will hit this target any time soon. 

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Adam Back shared his sentiment through a tweet where he predicted a <a href="https://www.cryptoknowmics.com/crypto/bitcoin-dominance-is-above-70-does-this-mean-more-downturn-for-altcoins/">surge</a> of $400 plus. Note that the executive hinted a few reasons to the situation. 
<blockquote>“Bring it on. 2020 halvening, lots of geopolitical uncertainty, $15tril of -ve interest bonds, MMT excuses being tested to bring an even more imprudent USD inflation regime. With a $50k BTCUSD price, $1tril market cap, would be…not far off.”</blockquote>
The crypto community speculates the next bitcoin halving in May 2020. Furthermore, the block rewards which are set to halve after verification of every 210, 000 blocks; usually within 4 years - will reward miners with 6.25 BTC. All the way down from the current 12.5 BTC. Every time the halving happens, the prices surge significantly. Therefore, the crypto community should expect a bitcoin rally during the coming halving.
<h2>Conclusion</h2>
Additionally, the political tensions heightening in some few countries plus US-China trade wars; might result in more people adopting Bitcoin as hedge. This is in case things do not work out well with fiat currency.At least on one occasion, the <a href="https://www.bbc.com/news/business-45899310">US-China trade war</a> has caused a Bitcoin surge given that Chinese enterprises had to remain afloat and active.

Blockstream Executive Predicts Bitcoin at $50, 000 Any Time Soon

Bitcoin has already surpassed the $10, 000 price level after struggling with resistant support in the past months. Raises the chances of a bitcoin rally.

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

Blockstream Executive Predicts Bitcoin at $50, 000 Any Time Soon

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