Bitcoin Price Predictions For 2019: What The Experts Are Saying About Bitcoin’s Future
The Bitcoin price predictions for 2019: Will Bitcoin price climb to more than $100,000? Some experts believe that, though Bitcoin experienced a serious decline in 2018, it will now rise to a level between $10,000-15,000. Though this is difficult to say with any certainty, experts believe that certain events will help to forecast the fate of the currency. These events include the launch of a federally-regulated market by the Intercontinental Exchange and the planned launch of crypto derivatives by exchange ErisX. This regulation is likely to have a positive effect on Bitcoin’s value.
Others are more conservative with their predictions, placing the currency’s rise in the $5,000-8,000 range. These experts do believe that there is great potential for the currency, owing to its decentralized, digital, and peer-to-peer qualities. However, they believe the currency will experience weakness during the first half of 2019, followed by stability, and finally, a substantial rise in value.
Some analysts claim that Bitcoin will double in value within the first six months of 2019. From there, it will rise to new heights. This is supposedly based off of a pattern that has been spotted in the Bitcoin market. This idea has some critics, however, since that market is notoriously unpredictable. If it’s true, though, the predictions of these analysts could become very profitable.
For the most part, most experts agree that predictions in any area of cryptocurrency cannot be guaranteed. The very nature of the cryptocurrency market is volatile and unpredictable.
More optimistic individuals believe that Bitcoin could reach one million dollars by the end of 2020. This prediction is based off of predictions for 2017 which were surpassed and the general adoption of blockchain technologies which is increasing.
Others in the optimistic camp see growth in the future, though to a smaller degree. Some claim that $40,000 is not out of the question. However, their predictions for altcoins are not very positive.
Those in the cryptocurrency field predict a high of $50,000, rather than one million dollars. However, they warn that fluctuations will continue at the same time that Bitcoin reaches new levels of widespread adoption around the world.
Experts in the financial research industry believe that the currency’s value could reach a new record by mid-summer. This is based off of an analysis of the currency since 2010.
The future of Bitcoin could be predicted by the trends within other cryptocurrencies. Ethereum and Ripple both experienced steep declines, before recovering and rising to new highs. This could point to a similar second wave for Bitcoin.
Despite its recent declines, there is still a lot of faith in the currency’s ability to recover. A survey of British financials showed that the majority of them intend to buy in the near future, hoping that a resurgence is on the way.
There are experts who are a bit more cautious about the future of Bitcoin. Some believe it could take up to 10 years for it to stabilize and experience any growth. They see similarities between the so-called “DotCom bubble” of the 1990s and the current growth of cryptocurrencies. They believe that rises and falls in the market are driven by disinformation and emotions that can be easily swayed.
Others in this long-term camp have made more specific predictions. They say that it will take 10, or even 20, years to reach a rise of 40 percent, or about $320,000.
Other analysts predict that Bitcoin will actually decline even more, even to the extreme low of a mere $100. They believe that governments, desiring regulation, will push back against cryptocurrencies and force them to comply with mandates. This regulation in turn will doom these cryptocurrencies and drive down their values.
Just as certain events could herald the appearance of a rise in value, other events could also inspire declines in value. This has been seen already in several key events.
Recently, search engine giant Google announced that it would ban crypto-related ads. The market responded to this news with a drop of over $2,000 in Bitcoin’s price. Similar bans online could have similar effects.
An executive board member for the European Central Bank issued a statement that Bitcoin is a digital asset, rather than a currency. The statement goes on to say that any cryptocurrency could become worthless at any moment because none of them are backed by a physical bank. News like this can have a negative effect on the market and drive down the price, as consumers lose faith in the currency.
Insecurities in cryptocurrencies also have a negative impact on the market, especially since these currencies are supposed to be very secure. Exchanges have suffered numerous hacks. One that resulted in a severe loss was a hack on Tokyo-based exchange Coincheck. The hacker was able to steal more than 500 million dollars. If incidents like these continue, consumers will lose faith in the exchanges themselves and the price will drop.
These predictions are wide-ranging. Some of the experts involved have stakes in the cryptocurrency industry or hold personal biases against cryptocurrencies. There are some trends that can be detected in their predictions, though.
- Price Fluctuations: Almost everyone agrees that Bitcoin will continue to be unstable before it can rise.
- Positive Long-Term Outlook: Though the present value of Bitcoin may seem rather gloomy, most 10- to 20-year outlooks suggest positive upturns.
- Standard for Cryptocurrencies: Bitcoin is regarded as the original cryptocurrency, and reigns above them. This will continue to be the case.
- Store of Value: Bitcoin is increasingly being seen as an asset rather than an actual currency.
- Negative Outlook for Altcoins: In the process of widespread adoption of blockchain technologies, many altcoins will be seen as useless and cut out.
- Scarcity: Bitcoin’s supply is limited, which will impact its price.
- Outside Factors: Events, such as hacks, news statements, and exchange launches impact the value of Bitcoin.
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