Morgan Creek co-founder Jason Williams’ bold Bitcoin forecast is quite bullish and calls for Meteoric Moonshot in matter of months.
He anticipates that the world’s driving digital currency should turn in a fabulous performance in 2020, notwithstanding the economic strife that has shaken about each industry as the COVID-19 pandemic continues to spread its wings all over the world.
The official of the virtual asset management firm says that he believes that the top digital currency will outperform its unsurpassed high of $20,000 in September.
Despite the general idealism, Williams says that he’s really bearish temporarily and doesn’t feel that BTC will rally until after the halving event, which is set to occur in May 2020.
At the point, when the amount of BTC that miners earn for powering the network system is cut in half, Williams says he figures many might be compelled to offer their Bitcoin property to keep the lights on, making an open door for investors.
“Most think [BTC] is going to rip before and during the halving. I just scratch my head. I think it could even go lower due to miner capitulation and sell pressure…”
“I hold. And come in with fresh capital opportunistically. That doesn’t work for everyone but that is just my personal strategy.”
In spite of the fact that Williams thinks Bitcoin (BTC) will take out $20,000 this year, options traders don’t share his ultra-bullish forecast. Data analytics firm Skew shows that the alternatives market is giving Bitcoin a 3% opportunity to print another unsurpassed high by September 20th, 2020.