RATE Group | It’s Too Early to Revise USD 20K per Bitcoin Prediction
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It’s Too Early to Revise USD 20K per Bitcoin Prediction

06 Mar It’s Too Early to Revise USD 20K per Bitcoin Prediction

Posted at 20:58h in Bitcoin News by

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It’s Too Early to Revise USD 20K per Bitcoin Prediction - BitPay CCO 101
Source: iStock/Bychykhin_Olexandr

Following warnings in January that “unforeseen incidents” may occur and potentially affect bitcoin (BTC) price, the Chief Commercial Officer (CCO) of major crypto payment processor BitPay, Sonny Singh, now says that the Coronavirus could be such an incident. However, according to him, it’s too early to tell whether it’s time to revise his USD 20,000 per BTC prediction.

Singh told Cryptonews.com that the new virus is “definitely one of the unforeseen things that could affect the price of bitcoin,” in addition to other factors such as the news that India will once again allow crypto-related activities after the country’s Supreme Court overruled the previous crypto ban. (A day later, Sout Korean parliament passed a “Landmark” crypto bill.)

Singh followed up by explaining that the virus has so far had a very limited negative impact on the bitcoin price, saying: “While stocks and gold dropped a lot, bitcoin’s drop wasn’t as…

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