Bitcoin's scheduled mining-reward halving in May 2020 could leave prices for the cryptocurrency in a range between $20,000 and $50,000, according to a new estimate.
The projection by Charles Hwang, managing member of the hedge fund Lightning Capital and an adjunct professor at Baruch College, represents a multiple of bitcoin's current price around $7,500.
Hwang wrote in a post on Medium that he assumed demand holds steady at 633,000 bitcoin through 2021, while mining rewards drop to 328,500 bitcoin a year from the current pace of 657,000 a year.
