It is exactly one year now since bitcoin reached its highest ever value at $20,000 before crushing. Many cryptocurrency experts seem to be certain that bitcoin price will regain to its last year’s glory by 2019. According to cryptocurrency portfolio manager Jeet Singh the current Bitcoin price volatility is completely normal.
Currently, Bitcoin is trading at $3,777.30 about 5 times lower than its December 2017 prices. On the volatility in the price of bitcoin, Jeet Singh compared Bitcoin to the stocks of companies such as Microsoft and Apple after they just launched. He stated that as soon as these companies developed their business models, their stocks not only rose in value but also stabilize.
Now many cryptocurrency investors are not sure of what the future holds. Jeet Singh said long-term investors need not worry about the volatility at all. He stated that long-term investors should have no problem holding Bitcoin for a longer period of time.
At this time we cannot accurately tell if Mr. Jeet Singh assertion of bitcoin is correct or not. But the truth now is that investors are worried about putting new money in the bitcoin market. Most investors would rather wait until the volatility in the market settles down and bitcoin resume its normal uptrend movements.
Most individual investors are patiently holding onto their Bitcoin deposits to see if things would clear out any time soon. Meanwhile, institutional investors are increasingly getting involved in the cryptocurrency.
The global cryptocurrency communities think that institutional investors would improve bitcoin credibility. It is expected that once the regulatory bottlenecks are sorted out Bitcoin would come back to its feet and gain more value.
Bitcoin Price Predictions 2019
Bitcoin proved to be a really hard asset to predict its future trends to even experienced analysts. On the other hand, bitcoin has a lot of history and surely history does repeat themselves, but for the case of bitcoin, it’s really hard to tell which history would be repeated.
Predicting Bitcoin price at the moment takes more than just a study. Here we will review some of the areas expert analysts looked at when predicting the prices of Bitcoin.
Making predictions from Bitcoin Analysts, enthusiast and industry figures are all very different both for bitcoin prediction in the short and the long term. However many people are still optimistic Bitcoin price would stabilize.
According to a recent survey among British financials suggests that many are willing to buy bitcoin I the hope that price will resurgence later this year.
Let us dive into the details of who is predicting what about bitcoin in 2019 to try to get an idea about how things will be in 2019. However, I would be inconsiderate if I don’t tell you there is a lot of divergences in these predictions. But it is worth knowing what the experts think about Bitcoin.
Bitcoin Expert Prediction for 2019
1. Samuel Leach, CEO, and founder of Yield Coin
In a youtube interview published in September 2017, Samuel Leach claimed that he made at least $1 million as a proprietary trader by the age of 25. He is a known speaker at Ted Talk shows and a trading strategy developer.
According to Samuel Leach the turbulence year Bitcoin had in 2018 is over. He predicted that Bitcoin could recover and reach a value between $10,000 to $15,000 in 2019. He further stated that the inherent volatility of cryptocurrency means that it is difficult to predict with kind of finite accuracy the future price of Bitcoin. Moreover, he acknowledges that the outcome of upcoming events will significantly play an important role in determining the price of Bitcoin.
2. Kevin Murcko, CEO of CoinMetro
Kevin Murcko is considered one of the most transparent CEO in the Forex Industry. He has proven this assertion via his niche brand, FXPIG, a truly unique brokerage. The CoinMetro CEO Kevin Murko think Bitcoin has a fairly limited use case he, however, says Bitcoin would remain a market leader in 2019. He justifies his statement by saying Bitcoin still has the liquidity that makes it preferable to other cryptocurrencies. Kevin acknowledges that it is not easy to predict future bitcoin price. He says that bitcoin prices will continue to be driven by a great deal of financial speculation. He predicts that Bitcoin price will continue to gain strength in 2019 but refused to put any price tag to it.
3. John McAfee of McAfee Antivirus Company
John McAfee is a prominent Bitcoin supporter and founder of the popular McAfee antivirus software is very optimistic about Bitcoin. Last year he predicted that Bitcoin could hit $7000 which was happily surpassed. He further predicted that Bitcoin could hit $1 million by 2020. In 2017 he shared his Bitcoin prediction in a twitter post.
4. Kristjan Dekleva
Kristjan Dekleva, a Swiss-based financial expert says the one decade that Bitcoin survived through turbulence will usher in good news for every crypto enthusiast. He said Bitcoin stability will coincide with the general acceptance of Bitcoin. However, he says Bitcoin will not be a replacement to fiat money but will be a viable alternative.
“In my opinion, it will be at least 10 years before we see stability”. – Kristjan Dekleva The finance expert at cryptocurrency project Hedge sees Bitcoin investments as all-too-similar to the DotCom bubble of the 90s. “In the short-term, falls have been driven by emotion and in many cases disinformation – a small rumor can have a big impact…Demand is driven by market speculation, but the absence of institutional investors means the market is unstable.”
5. Kenneth Rogoff (Harvard Prof & ex IMF chief)
Another Bitcoin Critic, Kenneth Rogoff, former chief economist at IMF who for a long time spoke against Bitcoin predicts that Bitcoin could stabilize at $100.
I think Bitcoin will be worth a tiny fraction of what it is now if we’re headed out 10 years from now…I would see $100 as being a lot more likely than $100,000.” – Kenneth
Rogoff’s prediction is based on his long-held belief that governments will soon overtake bitcoin control. Moreover, he feels that it will wipe the anonymity of all cryptocurrencies. He believes that even the current Bitcoin price is a bubble which government regulations will soon wipe out.
The Bottom Line
As sever of the above cryptocurrency experts mentioned, it is very hard to predict the price of an asset prone to speculation. Bitcoin is one of such asset and the effects of speculation on Bitcoin could be worst. Mainly, in comparison to that in any other assets. On the other hand, Bitcoin has a fixed supply. Meaning prices will continue rising as more of its units is purchased.
Meanwhile, many people within the Bitcoin communities and government regulators think some few whales within the Bitcoin communities are determining prices. For Bitcoin to become healthy speculative price movements and allegations of price control should be at bay. In our own opinion, we think Bitcoin could reach $7000 or beyond in 2019.
If you have your prediction regarding the price of Bitcoin in 2019 share it with us in the comment section below. Also, share this article within your social network contacts. Do not forget to follow us on Twitter and Facebook.