Someone claims Bitcoin has an 80 percent chance of reaching $ 50,000

In a recent AMA session during the very first online BlockDown cryptoconference, ShapeShift CEO Erik Voorhees made his prediction of what the future holds for the cryptocurrency flagship. The early tech evangelist affirmed that the upcoming blockcoin halving reduction event could be the catalyst that drives Bitcoin to new all-time highs.

Given the current turmoil in global financial markets, such an optimistic outlook for Bitcoin seems unlikely. With the unemployment rate skyrocketing, oil prices plummeting and investors securing cash positions, economic turmoil could deepen and further increase the chances of a recession that could spill over into the crypto industry.

 

Uncertainty in the Voorhees

Nonetheless, the uncertainty in the Voorhees and other prominent crypto market figures that are bullish on Bitcoin doesn’t seem to be bothering. Arthur Hayes, BitMEX managing director, even confirmed that the cryptocurrency as a figurehead is ready to flow into a full-blown bull market again this year. The former institutional trader claimed that BTC would climb back to the all-time high of $ 20,000 this year as a direct result of the monetary and fiscal solutions that governments around the world are trying to implement.