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Most people will be able to afford just Satoshis not a whole Bitcoin – Nexo Founder

#1
In 2019, the first two quarters have been positive for Bitcoin, with 10.34% and 161.50% gains recorded in Q1 and Q2 respectively. The last two, however, have been red with a loss of 25.11% in Q3 and 10.30% in Q4.

Now in 2020, although we made a good start we are down 0.22% to date while trading at $7,320 at the time of writing.


But according to Antoni Trenchev, co-founder of Nexo, a platform that allows users to borrow fiat currency against their crypt holdings, Bitcoin could go as high as $50,000 this year, based on the numbers they have crunched.

“I think that, very easily, we could see Bitcoin going up to $50,000 by the end of this year,” Trenchev told Bloomberg on Friday morning.

Bitcoin halving will push BTC to the skywards

The catalyst for this bull rally will be Bitcoin reward halving to occur on 13 May 2020.

“It is just a hell of a ride, it’s the halving coming up, the rewards for miners are dropping,” said Trenchev.

This would be the third such event that would cut down the miner reward from 12.5 BTC to 6.25 coins. Bitcoin’s inflation rate will also fall from the current 3.69% to 1.80%.

“The last time this happened, Bitcoin rallied 4,000%,” pointed out Trenchev.

Bitcoin is also an incredible asset that is mostly uncorrelated to the overall market. And anything that has come close to anything like the flagship cryptocurrency, Trenchev says has been the rise of the US dollar against the German papermark in the 1920s.


In 2019, the first two quarters have been positive for Bitcoin, with 10.34% and 161.50% gains recorded in Q1 and Q2 respectively. The last two, however, have been red with a loss of 25.11% in Q3 and 10.30% in Q4.

Now in 2020, although we made a good start we are down 0.22% to date while trading at $7,320 at the time of writing.


But according to Antoni Trenchev, co-founder of Nexo, a platform that allows users to borrow fiat currency against their crypt holdings, Bitcoin could go as high as $50,000 this year, based on the numbers they have crunched.

“I think that, very easily, we could see Bitcoin going up to $50,000 by the end of this year,” Trenchev told Bloomberg on Friday morning.

Bitcoin halving will push BTC to the skywards

The catalyst for this bull rally will be Bitcoin reward halving to occur on 13 May 2020.

“It is just a hell of a ride, it’s the halving coming up, the rewards for miners are dropping,” said Trenchev.

This would be the third such event that would cut down the miner reward from 12.5 BTC to 6.25 coins. Bitcoin’s inflation rate will also fall from the current 3.69% to 1.80%.

“The last time this happened, Bitcoin rallied 4,000%,” pointed out Trenchev.

Bitcoin is also an incredible asset that is mostly uncorrelated to the overall market. And anything that has come close to anything like the flagship cryptocurrency, Trenchev says has been the rise of the US dollar against the German papermark in the 1920s.
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