Industry Experts’ 16 Prediction for the Future of Bitcoin Price
Bitcoin has continued to be the number one cryptocurrency with the most potential for investors to make profits. It is important though that you know the price of BTC in 2019 in order to extract maximum profit from the coin. Various experts have given their opinions about the expected price of BTC in 2019. It is only prudent that as investors, you take time to go through these opinions.
So, what should an investor be looking at?
Bitcoin hit its peak in December 2017, going past the $20,000 mark. The massive increase in price encouraged a lot of people, even those without prior interest in digital coins to consider buying and investing in it. Cryptocurrency experts were swayed by this incidence and predicted a great future for cryptocurrencies. Many of these experts gave positive forecasts that BTC price would continue increasing in 2018, increase interest in mining and have more countries recognize and support cryptos.
With the high expectation and even more positive forecasts, something unexpected happened come the beginning of 2018. The price of BTC started falling sharply. By the end of January, the value of BTC has shot down from a high of $20,000 to below $7,000. The price of digital coins was severely hit by a bearish movement despite the insignificant surges that occurred in this period.
The sharp downward trend alarmed the industry with both seasoned and potential investors getting into shock. The coin continued struggling until mid-summer when its price leveled out and began a bullish trend in July 2018.
With this kind of volatility, it becomes very difficult to predict the price of BTC in 2019. Many investors are confused on what to do with their holdings. They are not sure whether to hold on to their assets and hope for a better dollar exchange rate in 2019, or sell their coins while it is experiencing temporary jumps in its value.
Having consulted with the industry’s experts and leaders, it is a bit of a surprise that most of them are optimistic that BTC’s exchange rate against the dollar will probably triple by January 2019. Out of the 16 experts that have expressed their opinions, a majority of them are expecting the coin to hit $21,000. In general, predictions in price from these experts range from $7,700, to an unimaginable figure of $150,000 per coin. The curious, or the interesting aspect about these predictions is that none of these experts expect the BTC’s value to fall.
It is important to note that of the 16 experts, six of them directly connect the positive forecasts to the upcoming SEC decisions regarding BTC ETF in the coming fall. Bitcoin ETF or Exchange Traded Fund will use the coin as its basic asset, buying the coins and then selling its shares to potential investors.
In these shares, those who invest in them will be dealing indirectly with digital currency hence giving their assets reliable protection. ETF issuers are promising guaranteed security of their clients’ digital wealth. They endeavor to protect and insure clients’ investments. This method is different from exchanges that are prone to hacking and theft. Exchange users have been known to lose hundreds of millions of dollars.
Bitcoin ETF launch is projected to draw in large institutional investors. It is expected that pension and investment funds will start investing in this sector. At the moment, the funds are currently focused on capital assets investments that are a part of the regulated market.
16 Expert Predictions
Gavriel Shaw, CMO at Bitcoin.com
Shaw, a hobbyist trader and self-proclaimed market analyst claims that BTC price is only going up in January. This price prediction is informed by strong market forces and the current price patterns on the charts. He continues to say that a break-out is in the offing promising an extremely strong bull run. He predicts that BTC price will be at $10,500 as of January 1st 2019 while BCH will trade at $1,500.
Khaled Khorshid, Co-Founder at Treon ICO
According to Khaled, there is no evidence of BTC getting dumped and it’s also not breaking on its crucial resistance points from August 15. If this trend continues and BTC ETF is confirmed by the SEC around September, then the price of BTC is likely to rise and reach as high as $20,000 just before the end of 2018.
Alexander V.van Dijl, Financial expert
Diji predicted at the beginning of 2018, that the value of bitcoin might shoot up to $150,000. He says that firm price movements are likely to take place in the coming months. He says that he believes something special and big will occur. He speculates that probably; a big retail company will accept the use BTC or maybe a adult advertising industry will adapt the coin as a mode of payment. He maintains that something big is the offing. His prediction remains $150,000 per coin.
Ronald Shi. Head Trader/Analyst Virtuse Exchange
Shi sees Bitcoin as “digital gold.” He claims that there is a strong resemblance between real gold and bitcoin. He continues to say that BTC volatility and price action is more or less the same as that of gold in the 1980s. He believes that BTC is in its last bearish phase and that if the SEC approves it come October, then the move will push up the price of the coin to about $10,000 to $12,000.
Luke Lombe. Head of Blockchain at PlayChip
Lombe says that BTC has been in a strong bear run in all of the year 2018. In this time period, institutional money has been accumulating all through the low period. He says that he has hopes of an increase in price should the ETF be approved. According to him, if the coin breaks the bear run and pushes past $8500, then it might double up its current price and hit $12600.
Danny Scott. CEO and Co-Founder at CoinCorner
Scott bases his prediction on his existing data related to industry trends. He says that he expects the price of BTC to level up at about $15,000 come January 1 2019. Scott says that the crypto industry is growing at a steady and healthy rate, and that there is a significant level of interest from prominent individuals and institutions.
David Hanson. Co-CEO Gaming Distribution Platform Ultra
Hanson believes that the price of bitcoin will rise to $8,500. He says that even if the price of BTC was negatively affected by SEC rejecting the Winklevoss ETF last month, the negative effects will only be for a short period. He says that SEC is probably going to reject most if not all ETFs this year, but it will not push the price of BTC downwards.
He says that this will in fact be an advantage to investors, as it will force them to rethink their strategies and go back to the fundamentals of BTC, and think on long term basis. He says, BTC will probably drop and bottom at around $5,400 and then swing a bit before setting at $8,500
Sam Olmsted. Consultant for Pelicoin
Olmstead says that BTC is likely to trade above the $10,000 mark. He says that there is increased confidence in BTC and other digital coins that will push up its price as well as that of other coins.
Kyle Asman. Co-Founder at BX3 Capital
Asman also bases his prediction on the approval of Bitcoin ETF. He says that BTC price will hit about $24,500. According to him, by the time the ETF is approved around September, one BTC will be at $7000, then gradually increase by about 350%. He says that it will be similar to the gold ETF once it was approved. He confirms that the price of BTC will increase throughout 2019.
James Stefurak. Founder at Monarch Research
Stefurak is not as positive as other experts predicting that BTC will be at $7,700 by the end of the year. He says that this increase in price is as a result of two main factors. There will be tariff tensions that stimulate faster executions of import-export business and the inevitable approval of the BTC ETF.
Kyle Fournier. Crypto Analyst at CryptoManiaks
According to him, the price of bitcoin will be about $10,000 as of January 1 2019. According to him, bitcoin and the entire crypto industry follow some definite cycles of bull markets and then followed by bear markets. He states that Vitalik Buterin, the founder of Ethereum said in a tweet on July 31 2018 that the crypto market was at the tail end of the bubble. He thus, predicts that the only other way is for it to start climbing.
Collins Brown Co-Founder at Market Protocol
Brown notes that BTC has shown some resilience as compared to other coins during the tumultuous period. He says, as the industry continues to struggle with the bear market, the tides will soon turn and benefit BTC greatly. He predicts that the exchange rate of BTC will be $14,000.
PK Banks. Co-Founder at CBlocks
Banks says that when looking at the industry’s conservative data, it is evident to see using BTC historical average that it is undervalued. He notes that BTC trades at about 1.30 to 1,75 times, with a 200-day moving average. He says that it will be easy for the coin to hit $9,420 in a span of four to five months when its mean returns to about 1.25 – 1.40 200 DMA
Sam Russell. Co-Founder/EVP Strategy and Innovation at WORBLI
According to Russell, if the market dynamics of BTC change within this month and the proposal of the BTC ETF is approved, then there will be buying pressure pushing the price of BTC to $11,400 and testing its resistance within that area. He continues to say that if all goes well, then the price may shoot up to $17,000
Eric Brown, Founder and CEO Aliant Payment Systems
Brown predicts BTC price to rise to $23,000 by January 1 2019. He says, having hit that price one, it is possible to get back there and that industry players know how to get it back there. He says that the crypto technology is still at its infancy. He says, the value of BTC will change positively with the growth of this technology.
Hans Battle. Co-Founder and CFO of Incremint
Battle predictions is at $10,000 per coin. He says that his company has seen a pickup in interest for their escrow services for bitcoin after a period of uncertainty. These transactions he says are more likely to strengthen the value and growth of BTC.