With regards to the price of Bitcoin (BTC), what should all crypto enthusiasts expect in the year 2019? Will there be a bullish trend or will the bearish trend continue? A lot of opinions have been aired by different experts on how Bitcoin is expected to perform in 2019, and we shall go through each of them in this article.
Sonny Singh: Bitcoin to Reach $20,000 By 2019 Ending
The Chief Commercial Officer of BitPay, who goes by the name Sonny Singh believes that Bitcoin will be able to hit the $20,000 mark before 2019 ends. He predicts that the price of Bitcoin will ascend to $20k and even if there is to be a price decline, it will not exceed below $15,000.
Singh bases his prediction on the new bull-run expected to overtake the market, and he believes that when key institutional companies such as Bakkt, BlackRock, Square and Fidelity launch different products, it will be instrumental to the delivery of the bull trend. In Nov 2018 during an interview with Bloomberg, Singh said:
“Next year will see new players and miners emerge in the industry. We will not see any rapid shift, but by the end of Q1 or Q2, Bitcoin will emerge as a viable commodity.”
Sam Doctor and Tom Lee Prediction of $36,000
Fundstrat analysts predicted in 2018 that the price of Bitcoin would come to $36,000 by the time 2019 comes to a close. This bold statement of theirs was as a result of the growth experienced by the mining infrastructure. Fundstrat’s Quant Strategist, Sam Doctor, stated that when you considered the expected breakeven cost growth and computing hash power of miners, Bitcoin could attain $36,000 by Dec 2019, and the upper end will be at $64,000 while the lower end will be at $20,000.
John McAfee Goes With $170,000
If you are familiar with John McAfee and the things he says, then you must have come across his prediction of Bitcoin hitting $1 million by 2020 of which he assured the world that he would eat his dick on national television if the prediction failed. As it is right now, McAfee is yet to make a 2019 prediction regarding the price of Bitcoin but going by his 2020 analysis, the price of Bitcoin should be within the environment of $170,000 by 31st December 2019 to satisfy his $1 million predictions for the following year.
The year 2019 holds a lot of promise as well as questions concerning the performance of Bitcoin. Two thousand eighteen was not a good year for Bitcoin with the prolonged bearish trend that marked its performance. However, Bitcoin enthusiasts have no option than to hope for a better Bitcoin price come 2019.