Joe Kernan, host of CNBC Squawk Box, predicts that when Bitcoin participates in his having event in 2020, it will be worth more than $55,000. Kernan’s feelings are quite different from his initial negative outlook on the project. In the past few years, he and many others laughed at the notion that bitcoin is a legitimate value store. Kernan’s view represents a price increase of more than 500 percent from Bitcoin’s current market price, which is over $10,000 USD.

 Halving will reduce supply while increasing demand for bitcoin. The block reward for Bitcoins will decrease from 12.5 BTC to just 6.25 BTC, according to the majority of analysts, which will drive the price significantly higher. Verifiable diagrams checking past splitting occasions confirm that over the long haul. The catch for most cryptographic money financial backers will explore the present moment. Investors who are late to the party often buy and weigh more than they should out of fear of missing out.

 As a result, they suffer significant losses. When it comes to pricing and the impact of a potentially significant profitable event, markets typically stay ahead of the general public, according to the most experienced investors navigating halving events involving Bitcoin and other blockchains. Is Libra on Facebook a catalyst? A 12-page white paper outlining Facebook’s Libra project explains that one of its goals is to help unbanked people.

 However, even Kernan, who is relatively new to Bitcoin, reveals his truth. Kernan maintains that a cryptocurrency’s value is limited by the blockchain it uses. He likewise expresses that Bitcoin’s worth specifically comes from the way that no privately owned business claims it and that individuals shouldn’t be guaranteed to believe a confidential organization keen on cultivating information with the end goal of benefit to go about as an unprejudiced element and dealing with the monetary exchanges of the person. 

Kernan isn’t the only one hopping on Libra. U.S. Facebook needs a banking charter if it wants to set a precedent as a financial institution, according to President Donald Trump, who recently acknowledged that he is not a fan of Bitcoin and other cryptocurrencies. He likewise proceeded to concede that he thinks having Facebook’s 2 billion clients get on to utilizing Libra would start a terrible trend until the end of the world’s financial framework. Although Trump is without a doubt the most well-known politician to express his opinion of Facebook’s project, he is not the only one.

 House delegate Maxine Peters is condemning of the undertaking expressing that Facebook is basically attempting to begin its own bank without going through the entirety of the means. She also mentions that the project will be launched by the company in Switzerland, a nation known for its liberal financial policies and regulations. Peters also mentions in her interview that Facebook collaborates with 27 other businesses. They will all intend to offer monetary types of assistance to their clients. 

She is absolutely sure that Libra and projects like it need to regulate the trends that were set in motion. By 2021, $100,000 in Bitcoin? The Libra project run by Facebook has the same effect on Bitcoin as halving does. taking it on a ride like a roller coaster. After Facebook made its announcement, the price went up very quickly. Naturally, the price decreased as soon as politicians and regulators began to voice concerns. That is the reason it means a lot to keep a drawn out vision with respect to dividing occasions. 

Anthony Pompliano, a co-host on CNBC with Kernan, projects that the price of Bitcoin will reach $100,000 by 2021. According to Pompliano, the first nation to widely adopt Bitcoin will greatly benefit economically. Pompliano’s prediction is based on a straightforward game theory philosophy. Countries eventually realize they can’t stop something, so they take advantage and join the movement. Assuming he’s right with that opinion, crypto lovers at present riding the wave stand to acquire a colossal measure of abundance. 

It won’t be long before we know, but time will tell. The halving of Bitcoin is most likely to occur in May 2020.