Research: Bitcoin may rise to $60,000 by May 2020

On August 21st, cryptocurrency research company DigitalAsset research recently released a new bitcoin price forecasting model. It boldly claims that based on the premise of scarcity, the price of bitcoin will reach $60,000 in May 2020, with a market capitalization of more than $1 trillion. The model refers to previous price fluctuations to predict future price volatility. It is based on a halving of the BTC block award and will expire in May 2020. This is usually a bull market event, the effect of which is to increase people's perception of supply reduction, which in turn will increase demand and push up prices.