Despite bitcoin having been unable to break the resistance barrier of $7,500 recently, Antoni Trenchev, head of Bitcoin lending platform Nexo.io, told Bloomberg today that the coin could “very easily” hit $50,000 this year.
It’s worth noting that despite bitcoin closing last December on decline, it has already gained over 50% in 2019 overall. Many analysts are bullish on the future of the coin, specially with eminent reward halving.
“[Bitcoin] delivers systematic asymmetric returns and the only thing that we have seen close to anything like this has been the rise of the US dollar against the (German papiermark) in the 1920s ,” Trenchev said.
Bitcoin has surged by around 6% this morning on news of US raid killing prominent Iranian Officer. The coin went from $6,850 to $7,300 over a few hours, and the price is still trying to stabilize.