2019 has not begun with a not-so-bad note as the master is gradually taking off. A few days back in a Forbes article by Charles Bovaird, it was stated that Bitcoin could undergo further gains once it reaches over $4,000, according to sentiment data and analysis. Even NASDAQ, the second highest stock exchange in the world has also promised to launch Bitcoin futures in the first half of 2019. It is going to begin on a good note as the digital assets program, Bakkt is going to get included. Bakkt has already increased by $182.5 million and is supported by 12 partners including Pantera Capital, Boston Consulting Group, Galaxy Digital and many more. The buyers of Galaxy Digital, the Winklevoss brothers, lately declared in the Aske Me Anything(AMA) session that Bitcoin is the most likely winner in a long time.
- 1 What is Bitcoin?
- 2 Market Prediction For Bitcoin Price
- 3 Bitcoin Price Prediction 2019
- 4 Bitcoin Price Prediction In 5 Years
What is Bitcoin?
Bitcoin is the most famous crypto, controlling the crypto space with its blockchain technology and its deficiency. Bitcoin was designed in 2009 by the pseudonym Satoshi Nakamoto, who may be an individual or a gathering of people. It operates on a peer to peer network, where no intermediaries are involved. It is the digital currency, which intends to exclude intervention of any third parties, while you are negotiating. It is gaining adoption, and some people have begun using BTCs in real time, like purchasing a Lamborghini or buying a mansion. It’s simple as well as advanced. Once you know the technology behind it, you will embrace the beauty of this digital currency.
Market Prediction For Bitcoin Price
As the market is undergoing volatile conditions, we should back up the forecast with the market specialists, who have been the mind and heart of the crypto market. Let’s take a look at the great Bitcoin predictions:
#1 John McAfee Bitcoin Price Prediction
John McAfee, the originator of the famous McAfee software and an ardent Bitcoin follower, foretold that BTC will hit $1 million by 2020 following last year’s forecast of $7000 which was well exceeded.
#2 Sonny Singh Bitcoin Price Prediction
In a recent meeting hosted by Bloomberg’s Emily Chang, Sonny Singh, the principal commercial officer at Bitpay mentioned on Bitcoin’s future and why it is okay not to panic looking at the current market situation. Singh, who appears to be a Bitcoin maximalist, called Bitcoin an “800-pound gorilla, as it has a path to the most notable “network effect” of all decentralized systems. He is confident of the fact that there is a high chance that BTC may reach $15,000- $20,000 by Thanksgiving, 2019, explaining that the possibility of a crypto ETF and an influx of funding for startups is high on the cards.
#3 Fundstrat’s Sam Doctor and Tom Lee Bitcoin Price Forecast
Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and leader of research of Fundstrat thinks that the break-even cost of mining 1 BTC directly corresponds with the value of the crypto. He thinks BTC would grow as he is counting on more institutional investors holding on Bitcoin and a constant increase in Bitcoin user base.Mr. Lee justified the current drop in the price of bitcoin by referring to the recent fall in the number of tech stocks, like Amazon, Apple, and Facebook. He is confident that increased institutional fortunes would help turn BTC’s future around very soon. Sam Doctor, an investigator from Fundsrat along with Lee foretold that by 2019, BTC might reach nothing less than $36,000, with the possibility of $64,000 at the maximum and $20,000 at its lowest. A couple of days back, Tom Lee declared that the BTC fair value is much higher than the current value. The current fair value is approximately between $13,800 and $14,800 which he believes might improve and reach $150,000 per coin as soon as bitcoin wallets account for seven percent of 4.5 billion Visa’s holders.
#4 Ronnie Moas Bitcoin Price Prediction
Ronnie Moas, a cryptocurrency analyst, predicted that BTC might reach $28,000 by 2019. He believes the demand for BTC would increase with its decreasing supply. He made it somewhat clear that by 2019, the adoption rate would increase and hence people would demand more of it. We must remember that BTC is not unlimited in supply.
#5 Michael Novogratz Bitcoin Price Prediction
At the Finance Disrupted event organized by The Economist in Manhattan Mike Novogratz, former hedge fund chief and founder of Galaxy Digital stated that he believes that BTC won’t reach$9K this year, and its likely to break beyond $10,000 in the around the first quarter of 2019. This might take BTC to sky-reaching heights as it might soar way ahead of the all-time-high $20K mark.
Bitcoin Price Prediction 2019
2019 will be bullish for BTC, as by then the flexibility will be higher as more people will start thinking in the technology behind Bitcoin. BTC will reach up to $20,000 by the middle of 2019. The more the trading, the more the value. Moreover, as we know, Bitcoins are limited in circulation, i.e., there can be only 21 million Bitcoins mined, out of which 17 million has been mined already, which intends just 4 million to be mine, which will make its value more. Additionally, several nations like the U.S., Japan, and South Korea have shown extreme enthusiasm to combine Bitcoin and other cryptos into their financial systems by setting up controlled markets which may function freely and securely.
Bitcoin Price Prediction In 5 Years
Bitcoin price forecast implies that the Bitcoin value is up for a long-term 678.833382% in the BTC price with a 5-year investment. This indicates that in 2023, the Bitcoin price is projected to stand at $ 50044.6.
Bitcoin will touch the $50k point in the year 2023, which will take the crypto exchange to a whole different height collectively. As per the forecasts and analysis, Bitcoin stays securely to number one spot, without any solid contender. Increasingly, Bitcoin will be seen more as a store of value, along with it being an alternative currency.
Disclaimer: This feature should not be exercised as, and is not designed to provide, investment advice. Coinpriceprediction and its affiliates, employees, and writers give the information about the coin with careful analysis. Please conduct your thorough study before funding in any crypto.