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Bitcoin will Gain Over 100% in 2020, says Thomas Lee

Thomas Lee, the Fundstrat founder, is predicting that the world’s number one cryptocurrency will gain more than 100% this year. According to the twitter page on Fundstrat’s outlook in 2020, the current events surrounding Bitcoin show the coin will consolidate on its 2019 gains and push forward to more than 100% this year.

Thomas Lee is one of those predicting a high rise in Bitcoin price, pointing out some key indices, including the halving of Bitcoin, will increase the value of the crypto-coin. Lee has a lot of strong followers and he has a strong voice in the cryptocurrency market.

Geopolitical indices will lead to Bitcoin gains

Last year, Bitcoin rewarded investors that had faith in it with an increased value of 92%. But Lee and his followers are even predicting higher gains for the number one cryptocurrency. According to them, there are several markets and geopolitical indices that show the value of Bitcoin is not dropping anytime soon. Rather, the coin will experience gains and surpass the gains it recorded last year. The report revealed key findings of the growth of the cryptocurrency and reasons why it could prove more than 100% returns to investors this year.

Apart from the halving, Lee and other experts considered other factors, including the upcoming U.S. presidential election and the current geopolitical tensions. Funstrat drew its conclusion from events last year. It noted that Bitcoin/USD reached its high levels due to president Trump’s negative comments about Bitcoin and the tensions surrounding Facebook’s Libra.

Divergent opinions on the gains of Bitcoin

As pointed earlier, other experts and commentators that supported Funstrat got their remarks based on the current tension in the geopolitical space.

Some experts disagree on the impact of halving to a potential surge in the value of Bitcoin. CEO of Morgan Creek Digital, Jason William, opined that Bitcoin would see relatively slower activities in May.

However, some other experts do not believe in his claims. Anthony Pompliano said last month that at the current price of Bitcoin, the coin is far from being priced in.

In the ongoing debate on the May 2020 Bitcoin halving, many experts believe that the bullish trend is already priced in. They stated that those looking for a sharp rise in value for bitcoin would be disappointed. But, other experts said there is still more time. The others argued that the halving has a long way to go before being priced in.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.