What to Expect in the Cryptocurrency Market Forecast by 2020?
Tabasum Sanighar
Predictions
3 years ago
1 QCP
Hey there, welcome to the cryptocurrency forecast for the year 2021. Let’s dive in to know further.
The crypto industry is facing a lot of Ups and downs recently. The year 2019 cannot be fully termed as bearish or bullish as the cryptocurrency market experienced both these trends. However, November sees most of the currencies in the red region.
In this article, I would like to predict how the cryptocurrencies will fair in the year 2020. Below analysis and prediction of 2020 are based on the current cryptocurrency market trend.
Factors Affecting the Cryptocurrencies in 2020
Let’s see the factors that will affect the crypto market in 2020 🙂
China’s Blockchain Adoption
As we all know, China is all set to adopt Blockchain into its day-to-day activities. The Chinese Government is diligently working towards this adoption. The news has already created quite a stir in the industry and the prices of most of the cryptos including Bitcoin have surged. This Bitcoin and crypto price trend would likely continue in the coming year 2020.
Halving and Hard forks
2019 year-end and 2020 have many halving and hard forks events lined up. Bitcoin halving in May 2020, Bitcoin Cash Halving by May end, Ethereum hard fork in June 2020, Bitcoin hard fork in Jan 2020, Monero Hard Fork are some from the wide lists of such events. Each event will affect the crypto industry and prices will swing.
Updated Crypto Regulations
As every country is either launching digital currency or adopting blockchain, new crypto regulations are bound to come into the market. Either the rules will be more strict towards crypto trading or will push the traders to alternate options. All-in-all, the crypto market will be affected in 2020 by these regulations.
Introduction of New Coins/ Tokens
Every alternate day, there is a new coin being either launched or announced. Facebook’s Libra is the most sought out coin of 2020. With the anticipation of these coins, it is hard to predict on which side the crypto industry will lean.
The CoronaVirus Pandemic
Coronavirus, also renamed as COVID-19 (World Health Organisation), is the most novel virus spread in mainland China. The deadly virus already recorded around 1000 fatalities. It has also spread to other Asian countries and slowly spreading to other continents.
The crypto market has faced lot of fluctuations since the outbreak. With the corona outbreak, cryptocurrency prediction for 2020 have taken a different turn
Other Miscellaneous factors.
Now, we have seen what are the factors that affect the cryptocurrencies. Let us have a look at how the bitcoin and some altcoins price will fare in the upcoming year 2020.
Learn about the Crypto market in 2021: https://coinpedia.org/information/cryptocurrency-price-prediction-2020/
The crypto industry is facing a lot of Ups and downs recently. The year 2019 cannot be fully termed as bearish or bullish as the cryptocurrency market experienced both these trends. However, November sees most of the currencies in the red region.
In this article, I would like to predict how the cryptocurrencies will fair in the year 2020. Below analysis and prediction of 2020 are based on the current cryptocurrency market trend.
Factors Affecting the Cryptocurrencies in 2020
Let’s see the factors that will affect the crypto market in 2020 🙂
China’s Blockchain Adoption
As we all know, China is all set to adopt Blockchain into its day-to-day activities. The Chinese Government is diligently working towards this adoption. The news has already created quite a stir in the industry and the prices of most of the cryptos including Bitcoin have surged. This Bitcoin and crypto price trend would likely continue in the coming year 2020.
Halving and Hard forks
2019 year-end and 2020 have many halving and hard forks events lined up. Bitcoin halving in May 2020, Bitcoin Cash Halving by May end, Ethereum hard fork in June 2020, Bitcoin hard fork in Jan 2020, Monero Hard Fork are some from the wide lists of such events. Each event will affect the crypto industry and prices will swing.
Updated Crypto Regulations
As every country is either launching digital currency or adopting blockchain, new crypto regulations are bound to come into the market. Either the rules will be more strict towards crypto trading or will push the traders to alternate options. All-in-all, the crypto market will be affected in 2020 by these regulations.
Introduction of New Coins/ Tokens
Every alternate day, there is a new coin being either launched or announced. Facebook’s Libra is the most sought out coin of 2020. With the anticipation of these coins, it is hard to predict on which side the crypto industry will lean.
The CoronaVirus Pandemic
Coronavirus, also renamed as COVID-19 (World Health Organisation), is the most novel virus spread in mainland China. The deadly virus already recorded around 1000 fatalities. It has also spread to other Asian countries and slowly spreading to other continents.
The crypto market has faced lot of fluctuations since the outbreak. With the corona outbreak, cryptocurrency prediction for 2020 have taken a different turn
Other Miscellaneous factors.
Now, we have seen what are the factors that affect the cryptocurrencies. Let us have a look at how the bitcoin and some altcoins price will fare in the upcoming year 2020.
Learn about the Crypto market in 2021: https://coinpedia.org/information/cryptocurrency-price-prediction-2020/
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