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FxWirePro: Expect Bitcoin’s value to decline more than 40 percent by 2020
One of the most prominent virtual asset Bitcoin’s bad days is not over yet. At least, one of our most successful medium to long-term model suggests so.
Bitcoin’s golden time ended last year, when the coin price crossed $19000 apiece/token. Since then, the price declined $6380 per coin.
The debates are still on whether the bitcoin is the future or a failure in time, but based on our model and looking at the low levels of acceptability and fungibility of bitcoin, we expect the forecast to hold true and the value of bitcoin to decline from the current level by more than 40 percent and reach as low as 3800 area.
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