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Do you currently hold Bitcoin and are wondering what’s going to happen its price in the near future, what is the Bitcoin price prediction 2020? Or have you heard about it and would like to know whether it’s a good investment or not over the long term? Well, if your answer is yes to either of these questions then you’ve come to the right place!

Quick fact: Did you know that Bitcoin increased its price by more than 2000% in 2017!?

In this Bitcoin price prediction 2020 guide, I will first give you a quick overview of what Bitcoin actually is, followed by a brief explanation of the things to consider before you invest heavily based on a price prediction guide (just like this one!).

After that, I will then discuss some popular price predictions for the year 2020 and let you know my thoughts on each of them. Finally, I will then discuss some of the upcoming real-world events that could affect its price movement going forward.

What is Bitcoin?

Bitcoin was created in 2009 by an anonymous developer called “Satoshi Nakamoto” and was the first and original cryptocurrency. Bitcoin allows people to send and receive funds without a third party intermediary and as such, it is a decentralized payments system.

The network is controlled by no single person or authority, nor is it backed by any central bank. Instead, transactions are verified by a community of “miners” who use their computational power to confirm the movement of “funds”. In return, miners are rewarded with additional Bitcoin for contributing to the network.

The technology that supports Bitcoin is called a blockchain, which is like a giant accounting book. Every single transaction that has ever been processed on the Bitcoin network is available to view on the blockchain. Furthermore, once a transaction has been added, it can never be changed or removed – which makes it extremely transparent.