- Bitcoin increased its value by 32 percent on 1st February.
- Bitcoins continue to grow at this rate, by the end of 2020, they will go as high as $152000 for a single Bitcoin.
- CryptoBull, a Twitter user, found this fact and drew attention to this increase.
CryptoBull, a Twitter user, found this fact and drew attention to this increase. He also stated that if Bitcoins continue to grow at this rate, by the end of 2020, they will go as high as $152000 for a single Bitcoin.
However, he made it clear that this scenario is not as good as it seems to be. He recalled the 2017 phenomena where Bitcoin rose in value from $960 to nearly $20000 by the end of December 2017.
However, other users on the social networking website don’t agree with CryptoBull. They say that the chances of the 2017 race happening again in 2020 are highly unlikely. There is an equal number of Twitter users who believe that the surge in Bitcoin value in 2020 is possible.
One such user is CoinDesk analyst Omkar Godball. He emphasizes the fact that February is a historic fortune month for the most popular cryptocurrency of all. This is the time when Chinese investors will be most active during the year due to the Chinese New Year, which is considered lucky for trading. This activity from Chinese users pushes Bitcoins to higher values.
At this rate, the value of Bitcoins will increase at a rapid pace, and the upcoming halving of Bitcoins would push people who are mining this cryptocurrency to invest in better equipment. It seems we might see graphics cards going out of stock or going for a very high price once again in 2020.