2019 year has not started with good notes , and more recently Bitcoin reached $ 8000, the first time since July 2018. Bitcoin grew over night by about 14% due to the growth of other crypto assets. After hacking into 7000 BTC in the Binance, the cryptosphere is not in a good mood.
But Wences Casares, CEO of Xapo and board member of PayPal, was an ardent supporter of Bitcoin and recently said that the value of Bitcoin could rise at least 250 times in the near future. It seems that the bull run has already begun, and this time it will not stop. The Alt-Coins also follow the host, and the greens significantly dominate the reds. Cryptographic enthusiasts are on the edge of their place, wondering if BTC will reach $ 25,000 or $ 50,000.
Even Tim Draper, a well-known bitcoin enthusiast and billionaire, said that in 2 years bitcoin will be everywhere, and paper currencies will become archaic. He even said that by 2021 everyone would buy their coffee, making their payments in bitcoins. Another big name was associated with Bitcoin madness, when Elon Musk, the founder of Tesla and SpaceX, called Bitcoin “brilliant” in public and even said that BTC is better than paper money because it can transfer value.
Even the NASDAQ, the second largest stock exchange in the world, also promised to launch bitcoin futures in the first half of 2019. This will be good news, as the digital asset platform, Bakkt, will be presented in the later part. of the year. Bakkt has already raised $ 182.5 million and is supported by 12 partners, including Pantera Capital, Boston Consulting Group, Galaxy Digital and many others.
Galaxy Digital owners, the Winklevoss brothers, recently stated at the Aske Me Anything (AMA) session that bitcoin is the most likely winner in the long run. More recently, some analysts from JP Morgan predicted that bitcoin could fall to $ 1,260, and banking or financial institutions may not benefit from the blockchain for 3-5 years, since, according to their data, the true value of cryptographers has not been proven. Even the South Korean R &
In one of the columns of Bloomberg, it was stated that there is a possibility that FUD (Fear, Uncertainty and Doubt) may appear in the crypto-space in 2019, where Barry Ritolz called the forecast of experts erroneous and absurd. Despite this, analysts and enthusiasts also had high hopes. Mike Novograts said bluntly that he believes that in 2019, 2020 there will be a big adaptation, as he thinks that there will be more participation of people in the blockchain space.
Now that the Ohio State Government has announced that it is going to accept tax payments at BTC, where the government has entered into a partnership agreement with Bitpay to make it convenient for Bitcoins to be converted into dollars on behalf of the tax inspectorate. This is just a glimpse of how the adoption rate is getting higher and higher.
BlockTower Capital, the main force of the crypto-sphere, made a bet on Bitcoin a year ago, recently made a bullish statement about the price of Bitcoin. Michael Buchella, BlockTower’s partner, noted that a recent dry spell working in crypto space and volatility may be the current scenario that destroys it, but the distress cycle may end very soon, as institutional players have expressed their keen interest in buying cryptocurrencies.
What is bitcoin?
Bitcoin is the most popular cryptocurrency, dominant in cryptocurrency with its blockchain technology and its deficit. Bitcoin was created in 2009 by the pseudonym Satoshi Nakamoto, which may be an individual or a group of people. He works in a peer-to-peer network where intermediaries do not participate. This is a digital currency, which aims to exclude the intervention of third parties during the transaction.
It is gaining popularity, and some people started using BTC in real time, for example, to buy a Lamborghini or a mansion. It is as easy as advanced. Once you understand the technology behind this, you will definitely understand the beauty of this digital currency.
Bitcoin prices are also growing rapidly. It trades at $ 8,034.51 with a 10-month high. Constantly fluctuating bitcoin involved many in the forecast of prices for bitcoin.
Market forecast for bitcoin prices:
Since the market is experiencing unstable conditions, we must confirm our forecasts with market experts who were the mind and heart of the cryptocurrency market.
Let’s look at the famous bitcoin predictions:
Price Forecasting # 1 John McAfee Bitcoin
John McAfee, the founder of the popular McAfee software and a zealous follower of Bitcoin, predicted that by 2020, Bitcoin will reach $ 1 million, after last year’s prediction was $ 7,000, which was significantly surpassed.
# 2 Forecast for Bitcoin Prices Sonny Singh
In a recent interview organized by Emily Chang from Bloomberg, Sonny Singh, Bitpay’s business manager, commented on the future of Bitcoin and why you can not panic, looking at the current state of the market. Singh, who seems to be a Bitcoin maximalist, called Bitcoin an “800-pound gorilla” because he has access to the most visible “network effect” of all decentralized networks. He insists that there is a high probability that BTC could reach $ 15,000–20,000 by Thanksgiving, 2019, explaining that the likelihood of a crypto ETF and funding inflows for startups are high on the cards.
Predicting Price # 3 by Sam Doctor and Tom Lee Bitcoin from Fundstrat
Tom Lee, the former chief share strategist at JP Morgan, as well as the co-founder and head of the Fundstrat study, believes that the break-even cost of mining 1 BTC directly correlates with the price of cryptocurrency. He believes that BTC will grow as he expects that more and more institutional investors will acquire bitcoins and will constantly increase the base of users of bitcoins. Lee justified the current fall in bitcoin prices, citing the recent fall in stock prices of technology companies such as Amazon, Apple and Facebook. He hopes that an increase in institutional states will help turn the future of BTC very soon. Sam Doctor, an analyst from Fundsrat, along with Lee, predicted that by 2019, BTC could reach at least $ 36,000, with a maximum probability of $ 64,000 and a minimum of $ 20,000. A few days ago, Tom Lee said that the BTC fair value is much higher than the current price. The current fair value is somewhere between $ 13,800 and $ 14,800, which, in his opinion, could increase and reach $ 150,000. For a coin, as soon as wallets with bitcoins make up 7% of 4.5 billion. Visa holders .
# 4 Ronnie Moas Bitcoin Price Forecast
Ronnie Moas, a cryptocurrency analyst, predicted that by 2019, BTC could reach $ 28,000. He believes that the demand for BTC will increase with a decrease in supply. He made it clear that by 2019 the rate of adoption will increase, and therefore people will demand more. We must remember that BTC is not limited in deliveries.
# 5 Michael Novogratz Bitcoin Price Forecast
At The Financial Disrupted event organized by The Economist in Manhattan, Mike Novograz, the former head of the hedge fund and founder of Galaxy Digital, said that he believes BTC will not reach $ 9K this year, and he will probably exceed $ 10,000 around the first quarter of 2019. This may bring BTC to an unprecedented height, as it can soar far above the record $ 20K mark.
# 6 Fran Strajnar Bitcoin Price Forecast
Fran Streynar gives a very optimistic forecast, in which he believes that BTC could reach $ 200,000 by January 2020. He believes that the level of adoption is directly proportional to the increase in prices. The greater the adoption rate, the greater the increase in value.
# 7 Price Forecast for Bobby Lee Bitcoin
Bobby Lee, CEO of China’s first exchange BTCC, said earlier that it would take BTC 20 billion years to reach $ 1 million. Now his forecast has completely changed.
Bobby Lee, co-founder of BTCC (Bitcoin Exchange in Hong Kong) and brother Charlie Lee, the creator of Litecoin, gave an extremely optimistic outlook, but still started with a bearish outlook.
He claims that bitcoin could reach its record low in January 2019, reaching below $ 2,500, and that bitcoin could increase from the end of 2020 and could reach $ 333,000 in 2021, and then fall to $ 41,000 in 2023 .
He reiterated that market capital could reach $ 7. trillion, it can surpass the market capitalization of gold.
# 8 Zhao Dong Predicting Bitcoin Prices
Zhao Dong, one of the largest Bitcoin over-the-counter traders in China, who recently predicted that bitcoin could reach $ 50,000 by 2021. He reiterated that now is the right time to invest in BTC, and said that you can get a return of 100 to 200%. over 3 years if you invest now.
# 9 Anthony Pompiano on Bitcoin Price Forecast
In a recent tweet, Anthony Pompiano, founder of Morgan Creek, said that Bitcoin is not going anywhere. He stated that the BTC could fall to $ 3,000, after which it will continue to be bullish, starting in 2019. He stated that there is no reason to worry about price cuts, as the fundamental indicators of Bitcoin are getting stronger.
# 10 Arthur Hayes Bitcoin Price Forecast
On the other hand, Arthur Hayes, CEO of BitMex Crypto Derivatives Exchange, gave a very pessimistic bearish outlook. He changed his previous forward-looking statement based on a sudden change in the market. Earlier, he stated that BTC has the opportunity to reach 50 thousand dollars by the end of this year, but now he says that BTC will reach only 3 thousand dollars and will continue to be bearish throughout the whole 2019 year.
# 11 Winnie Lingham Bitcoin Price Forecast
Winnie Lingham, the CEO of a crypto startup called Civic, said that bitcoin will deteriorate before it works for the better. He mentioned that BTC may fall below $ 3,000 before it starts to grow steadily.
Our bitcoin price forecasting verdict
Despite the fact that Bitcoin is experiencing frequent fluctuations, we believe that Bitcoin will grow in accordance with the forecasts outlined above. There are several reasons that led to falling prices for Bitcoin, for example, the use of Bitcoin for illegal purposes and many past failures, such as hacking and theft. The pros have surpassed all the disadvantages, so Bitcoin is still the market leader, ranking first and maintaining its position. Bitcoin may reach $ 23,500, presumably by the end of 2019, as the year has good prospects and development for BTC, like NASDAQ, which launches BTC in the future, which is also very early in 2019.
Bitcoin price forecast in 2019: will bitcoin be more expensive?
2019 will be bullish for Bitcoin, since by that time adaptability will be higher as more and more people will start to believe in the technologies underlying Bitcoin. By mid-2019, bitcoin will reach $ 20,000. The greater the trade, the greater the price. Moreover, as we know, there are few bitcoins in circulation, i.e. Only 21 million bitcoins can be mined, of which 17 million have already been mined, which means that only 4 million will be mined, which will increase its value.
In addition, some countries, such as the United States, Japan, and South Korea, have shown extreme willingness to integrate Bitcoins and other cryptocurrencies into their financial systems, creating regulated markets that could operate freely and safely.
By the end of 2019, the Bitcoin price will reach $ 23,499, which means that the bearish trend of 2018 ends and shifts to a bullish trend.
Bitcoin price forecast for 2020
The cryptocurrency market will experience market optimism in 2020, as not only bitcoin, but all major cryptocurrencies will also experience an upward shift. Governments and central banks will use digital currencies, so demand must be greater.
In the first quarter, there will be a small surge of up to $ 25,000, after which in the third quarter it will jump to $ 30,000. By the end of the year, Bitcoin will be valued at $ 33,788.5.
Bitcoin price forecast for 5 years
The Bitcoin price forecast assumes that the Bitcoin price has risen by a long-term 678.833382% of the value of BTC with a 5-year investment. This means that in 2023, the price of Bitcoin is projected at $ 5,544.6.
Bitcoin will reach 50 thousand dollars in 2023, which will lead to a completely new growth of the cryptocurrency market. According to forecasts and analysis, Bitcoin is securely held in first position without any close opponent. Bitcoin will gradually be perceived as a store of value, as well as an alternative currency.
By 2023, more and more people will use Bitcoin, i.e. Real-time usage will be increased , making it even more powerful.