For nearly the entirety of 2018, the cryptocurrency space has experienced the doldrums of a bear market and Bitcoin has failed to sustain a price above $10,000 (as of writing this, Bitcoin is stuck in the $6k/$7k range). Numerous investors, especially newer entrants, are starting to capitulate and lose interest in the market. Detractors are louder than ever, notably including Warren Buffet who called Bitcoin “rat poison squared”.
“I made the wrong decisions on Amazon and Google” — Warren Buffet (He’s well-respected and deservedly so, but could he be wrong about Bitcoin?)
For many, the onslaught seems like it has no end and shortsightedness has become apparent. Even with diminishing public sentiment and a large contingency that thinks Bitcoin’s future is bleak, I believe Bitcoin will hit $100,000 by 2021:
Countdown to Bitcoin Halving in 2020
The next Bitcoin halving (or halvening) will occur in May 2020, which will reduce the current mining block rewards by half. This event is significant since the amount of Bitcoin mined after each ten minute block will drop from 12.5 Bitcoins to 6.25 Bitcoins. After the halvings of 2012 and 2016, a considerable appreciation in Bitcoin’s price was reflected within the year. It’s also likely that speculators may temporarily provide a spike in anticipation of the next halving as…
