RATE Group | CNBC Host Goes Full Bitcoin Maximalist With $55K Forecast After Halving
56279
post-template-default,single,single-post,postid-56279,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

CNBC Host Goes Full Bitcoin Maximalist With $55K Forecast After Halving

30 Jul CNBC Host Goes Full Bitcoin Maximalist With $55K Forecast After Halving

Posted at 14:54h in Bitcoin News by

[ad_1]

Former Bitcoin (BTC) bear Joe Kernen has predicted that the coin could hit $55,000 by May 2020, the date of Bitcoin’s next halving.

The Squawk Box co-host appears to have undergone a full conversion to Bitcoin maximalism, surprising his show guest — Fairlead Strategies managing partner Katie Stockton — on July 29 with his forecast that the coin could well see a 500%+ price surge by the time of its next halving.

Bitcoin’s planned halving in May 2020 will mean that mining rewards will be reduced by half — from 12.5 BTC to 6.25 BTC — an event that will drastically reduce the coin’s supply. 

Kernen predicted that the increased scarcity will catalyze greater demand, arguing that such classical market principles still apply to crypto-assets — just as they do to scarce precious metals such as gold and silver.

Analysts consider halving as bullish price factor

The hypothesis that Bitcoin’s halving will be a major factor in driving the asset’s price appreciation is largely…

[ad_2]

Source link

Tags:
, , , , , , ,