Bitcoin, as a virtual currency, has been attracting much attention since its birth. In 2020, the fluctuation of Bitcoin prices has been tugging at the heartstrings of global investors. With the arrival of the second half of 2020, people are paying more attention to the future trend of Bitcoin. So, will the price of Bitcoin continue to rise? In this article, we will take a deep look at the trend of Bitcoin in the second half of 2020 and analyze its possible development trend.

As an encrypted digital currency, Bitcoin plays an important role in the financial market. As the uncertainty of the global economic situation intensifies, investors begin to focus on safe-haven assets, and Bitcoin has attracted much attention due to its decentralization and limited supply. In the first half of 2020, Bitcoin experienced waves of price fluctuations, climbing from $3,000 to more than $10,000. Such a sharp rise and fall has triggered speculation about the future trend of Bitcoin.

First, let's review the historical price trend of Bitcoin. Since the birth of Bitcoin in 2009, its price has been in a state of extreme volatility. However, the overall trend shows an upward trend year by year. Especially at the end of 2017, the price of Bitcoin once soared to its historical high, attracting the attention of a large number of investors. Although the price has fallen back in the following period, the popularity of Bitcoin has not subsided. In 2020, Bitcoin has once again become an investment hotspot, and its price fluctuations have triggered widespread discussion in the market.

In the second half of 2020, the price trend of Bitcoin has attracted much attention. Some analysts believe that Bitcoin is expected to continue to rise due to the global economic situation. As central banks of various countries print money in large quantities, the risk of inflation increases, and investors begin to look for safe-haven assets, and the scarcity of Bitcoin makes it the first choice for hedging. In addition, with the continuous development of the Bitcoin derivatives market, more and more institutional investors have joined the Bitcoin market, providing support for the rise in Bitcoin prices.

However, there are also some voices that believe that the rise in Bitcoin prices is not ironclad. As a virtual currency, the price of Bitcoin is easily affected by market sentiment and has high volatility. Especially in the case of an uncertain global economic situation, the volatility of Bitcoin prices may further increase. In addition, the uncertainty of regulatory policies is also an important factor affecting the price trend of Bitcoin. If there are major adjustments to regulatory policies, it may have an impact on the Bitcoin market, which in turn affects the trend of Bitcoin prices.

In summary, the price trend of Bitcoin in 2020 is full of uncertainty. Investors should be cautious when participating in Bitcoin transactions, analyze market conditions rationally, and make wise investment decisions. As an emerging financial asset, Bitcoin has a large price volatility and investment needs to be cautious. No matter how the price of Bitcoin changes, investors should remain rational, not blindly follow the trend, and do a good job of risk control in order to obtain a stable investment return in the Bitcoin market. I hope that investors can seize investment opportunities in the second half of 2020 and obtain ideal investment returns.

It has been a month since the last sharp rise in various currencies. During this month, the price of Bitcoin has basically fluctuated between $11,000 and $12,000, which has caused doubts among investors who have just entered the cryptocurrency circle. After all, investing in Bitcoin is ultimately for making money. Buying now, whether the price of Bitcoin will rise is crucial for investors. So, will the price of Bitcoin continue to rise? The following editor of the currency circle will talk to you about the price of Bitcoin in response to this question, and also present the predictions of the big guys in the currency circle for Bitcoin in the second half of 2020.

 Will the price of Bitcoin continue to rise?

From historical data, in the early stage of the bull market in 2019, Bitcoin also rose for 7 consecutive weeks, which kicked off the entire bull market last year and pushed the price of Bitcoin to a high of around $14,000. If history repeats itself, this may drive the price of Bitcoin up again this year, and the increase may exceed that of last year, and may even set a record high.

However, market analyst Zack
Voell said that in the history of Bitcoin, after seven consecutive weeks of gains, there will always be a small correction in the eighth week, which seems to indicate that Bitcoin will not close higher this week. Although according to the supply and demand relationship, the price of Bitcoin should rise with the reduction of supply, this may not happen immediately when the halving occurs.

Eric Anziani, chief operating officer of Crypto.com, believes that the halving of Bitcoin block rewards is the most important event in the cryptocurrency industry at present, which will have a significant impact on the entire industry.

He said on Twitter that the mining rewards of Bitcoin miners will be halved from 12.5 BTC to 6.25 BTC, reducing the inflation rate from 3.68% to 1.8%, which will bring long-term impetus to the price of Bitcoin.

He also added that "the historical halving has led to the rise of Bitcoin's medium- and long-term prices, but after each halving, the short-term price will also fluctuate unpredictably."

The recent increase in the market value of stablecoins is also considered a factor driving the rise in Bitcoin prices. According to Tokenview stablecoin data, the current circulation of USDT on the chain is about 8.607 billion. Tether issued an additional 582 million USDT in the past week.

The Bitcoin MACD indicator also recently reversed to bullish, and in both 2017 and 2019, this indicator predicted a sharp rise in the cryptocurrency market.

Research institution Fundstrat Global Advisors wrote in a report last week that it expects Bitcoin to reach $14,350 in the next 12 months. Its co-founder Thomas
Lee said that Bitcoin's performance so far this year proves that it not only benefits from halving, but also acts as a "solid risk asset and hedging tool."

 Bitcoin second half forecast for 2020

1.Tom Lee Bitcoin price prediction

Former chief equity strategist JP Morgan, co-founder and head of research at Fundstrat Tom
Lee believes that the break-even cost of mining 1 BTC is directly related to the price of the cryptocurrency. He believes that BTC will grow as he counts on more institutional investors to adopt Bitcoin and the steady growth of Bitcoin's user base.

2. Fran Strajnar Bitcoin Price Prediction

Fran
Strajnar made a very optimistic prediction, he believes that BTC may reach $20,000 by December 2020. He believes that the adoption rate is directly proportional to the price increase. The higher the adoption rate, the more the value increases.

3. Bobby Lee Bitcoin Price Prediction

Bobby Lee, CEO of China's first exchange BTCC, once said that it would take 20 years for Bitcoin to reach $1 million. Now his prediction has completely changed.

Bobby Lee, co-founder of BTCC (Hong Kong) and brother of Litecoin founder Charlie
Lee, gave an extremely optimistic prediction, but it started with a bearish one. He claimed that Bitcoin may start to recover from the end of 2020 and may reach $333,000 in 2021, and then fall to $41,000 in 2023. He repeatedly stated that the market capitalization may reach $7 trillion, which may exceed the market value of gold. He even mentioned that Bitcoin will lead to price stability and global liquidity in the next few years.

4. John McAfee Bitcoin Price Prediction

John McAfee has been one of the stagnant Bitcoin enthusiasts who has come up with his predictions from time to time. He has recently become more optimistic than ever, saying that Bitcoin could reach $1 million by 2020. Other Bitcoins like Apollo and MTC could rise 10 times as much as BTC enthusiasts. He recently said that his past prediction of $1 million for Bitcoin was just a ruse.

McAfee predicts that 10 years from now, "there will be no fiat currency in the world, and everything will be cryptocurrency."

5. Tim Draper Bitcoin Price Prediction

Tim Draper is one of the famous venture capitalists who predicts that Bitcoin will occupy 5% of the currency market by 2023. He is optimistic that the price of Bitcoin could rise to $250,000 by 2023.

Through the above introduction, I believe everyone has some understanding of whether the price of Bitcoin will continue to rise. The editor of Coin Circle kindly reminds investors that when trading Bitcoin, they must choose professional and reliable platforms or channels, and do not listen to some rumors. It is easy to encounter scams. Buying Bitcoin is different from other commodities. There are more precautions. Everyone must be cautious. If you want to know more related knowledge, you can pay attention to Coin Circle. The editor of Coin Circle will continue to update related reports later!

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