BITCOIN HALVING EXPLAINED and 2020 $BTC Price Prediction
BitMEX specialists made several forecasts on how the crypto industry will develop next year.
According to the experts, Bitcoin will be traded in the range of $2,000 – $15,000 and the index of the dominance of the first cryptocurrency will not exceed 75%.
At the same time, it will not fall below 30%.
The MATIC token, the only one token that has a positive return in the IEO boom, will fall by over 80%, they predicted, the platform has wittingly said.
As notes the experts of the crypto platform, “they would be surprised if it goes for much in the Q1 2020 transfer window.”
Data On IEO Token By Bitmex Research
Earlier, a team of researchers analyzed investment performance indicators in 12 Initial Exchange Offerings (IEO).
The study demonstrates that some tokens lost most of their value.
The maximum losses, regarding the decrease in the value of the asset by 98%, were recorded in the Blockcloud project.
The project’s IEO was launched on the OKEX platform.
Between the 12 projects that the team has studied, only one of them – Matic – was able to demonstrate growth relative to the initial value of the asset on the exchange.
Recall, that IEO of the MATIC project was held at the Binance Launchpad.
Moreover, BitMEX Research specialists drew attention to the fact that the cost of tokens during the IEO period is lower than that, which is subsequently set at the beginning of trading.
Bitcoin Price Predictions for 2020
For comparison, the level of return on an investment relative to the value of the asset established for the period of the initial exchange offer is as follows:
Statistics indicate that 8 out of 12 IEO brought their investors losses of between 15% and 93% of the total amount of invested funds.
Note, firstly the team of researchers doubted the prospects of initial exchange offers in May of this year.
Recall that earlier BitMEX CEO Arthur Hayes also made a forecast for Bitcoin for 2020.
Therefore, in his opinion, the level of $ 20,000 remains an important psychological mark and the coin will not overcome it for a long time, he said.
If the bear market returns, Hayes is confident that Bitcoin will not drop below $ 3,000. According to him, the breakeven point for miners is in the range of $ 3,000- $ 4,000 and it will serve as a serious level of support.
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