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German Bank forecasts Bitcoin price rise to $90000 after 2020 halving

German Bank forecasts Bitcoin price rise to $90000 after 2020 halving

October 3, 2019, | AtoZ Markets The Bayerische Landesbank (Bayern LB) is a German bank with public regulation, founded in 1972. It is one of the eight Landesbank. As a commercial bank, BayernLB offers financial services in the private, industrial, investment, and foreign affairs sectors. As a state and municipal bank, BayernLB is accountable for credit and financial advice for the state of Bavaria and its municipalities and districts.

German Bank Bitcoin Forecast

The Bayern LB report entitled “Bitcoin is better than gold” states that Bitcoin will reach $ 90,000 after halving. According to the report, the bank’s researchers examined the relationship between bitcoin and gold. This report is an analytical method commonly used on raw materials such as silver and gold, to determine the level of scarcity. Or as the rapporteur said, the ” hardship ” of the asset depends on the cyclical supply and the annual production. The higher the SF ratio of an asset, the greater the value of the asset. The report also indicates that the application of the Bitcoin analysis has a strong correlation between market prices and their SFs.

Must Read: Is USDT bigger than Bitcoin?

One of the main reasons for gold’s high demand for a long time is its scarcity. Gold cannot be increased wonderfully, and gold has a limited annual production and already has a solid supply base. SF is a judge of currency use. The halving of the next block will take place around May 2020, and the annual Bitcoin delivery will be halved, generating 6.25 BTC per block.

In the coming year, Bitcoin may have successfully achieved a share price similar to gold. And if Bitcoin’s equity allocation is included in the model in May 2020, the result will be a staggering price of about 90,000 dollars. The forthcoming halving effect is barely credited to the current Bitcoin price of around $ 8,000, and the current value is approximately $ 7,500.

Researchers at the German bank have pointed out that even the most ridiculous statistical model can fail if one tries to predict the future. However that the real test will be that we have emphasized that the halving of the year 2020 will be mentioned in the upcoming Altcoin news.

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Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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