Bitpay’s Sonny Singh: Bitcoin Price Will Reach All Time High Of $20,000 To $15,000 At Least In 2019
Bitpay Sonny Singh BTC Will Reach Over $15K
These past few weeks have been a major disappointment for those who follow and invest in the cryptocurrency space. BTC and ETH have experienced some of the worst losses, the latter falling below $5K. The good news is that there are those who still feel quite optimistic.
One such individual is Sonny Singh of Bitpay. In a discussion with Bloomberg, he stated that given BTC’s positive brand recognition and reputation and its position of potential use in the commercial space, it is likely that the coin’s value will regain and increase significantly.
Singh also touched upon Chase Bank CEO’s recent comments in which he mentioned that BTC is a fraud and that it will not last. In a rebuttal point, Singh mentioned that BTC is anything but a fraud and people will see that once BTC is established in the commercial market, especially through Fidelity and Bakkt. He continued,
“Next year will see new players and miners engage 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.”
To Singh, Bitcoin is a “800-pound gorilla” in the crypto space. As for the ICO market, it is on its last limb and a few may survive. Further, if BTC does not make it through, then the ICOs certainly will not either. During the interview, he also focused on 2019 being the deciding year for BTC and cryptocurrency and remained hopefully that as traditional players enter the space, BTC’s value will increase significantly – to around $15,000 to $20,000.
Concerning the Bitcoin Cash Hard Fork, which has been pinpointed as one of the main reasons for the decline, Singh stated
“In the event of a chain split resulting from the hard fork, the BitPay wallet will only support the Bitcoin Cash chain on which we resume to process payments for BitPay merchants. We do not currently have plans to make new tokens from the split in the BitPay wallet.”