While 2017 was a year of massive bullish proportions for Bitcoin and cryptocurrency in general, 2018 rolled around as a dire bear market. 2019, which has just drawn to a close was a year that one could consider as foundational, and one that has set 2020 to be something special to watch.
There have already been a number of 2020 predictions, some of them more outlandish than others, but it is worth breaking down and dissecting some of the more plausible scenarios that could happen in 2020. An interesting take has come from a well-respected Twitter analyst, Skew, who has outlined his 10 predictions for 2020.
These include some rather big calls on the performance of Bitcoin compared to Ethereum; just what will happen with Libra in a year it is touted to launch, and how Wall Street will take to Bitcoin in the coming 12 months.
A year for adoption?
An underlying theme in the 10 predictions Skew has put out relates to adoption on a mainstream and institutional level. 2019 saw a lot of institutional piloting and experimenting, but 2020 could be the year that the next step is taken.
Indeed, Skew sees action from Wall Street where a Tier One Investment bank will open up its own Bitcoin trading Desk. There have been rumours for some time that Fidelity would be opening up a crypto trading desk, but it never came to be.
More so, Skew makes a good point in isolating early institutional adopters CME as a company that could take the lead in Bitcoin options trading. The company, along with CBOE, were the first to offer institutional clients the option to invest in Bitcoin futures, and they have shown good growth in 2019.
2020 should also be an interesting year for a number of coins. Many like to predict and monitor how Bitocin will do over 12 months, especially starting the year in a relatively stable and non-volatile place. But for Skew, Bitcoin is not the one to watch.
The analyst is predicting that 2020 will be a year for Ethereum. While it has been made known that Ethereum 2.0 is being massively delayed, and expected only to come to be in a few years time, Skew believes that ETH will outperform BTC this year.
This also has a lot to do with his prediction that the reward halving set to take place in May will be a non-event. This is a prediction that goes against that many have predicted for some time now.
He also thinks that Facebook’s Libra, under pressure from so many global regulators, will stick to its timeline and get a launch in 2020, but that launch will be understated and rather soft.