Bitcoin Price: Predictions for 2019
Bitcoin price predictions are all too common. There are authorities whose predictions will be taken very seriously while some taken more lightly. However, the volatile nature of cryptocurrency, bitcoin has had a good year. Increasing value since February at $3500 to $8200 in May. With a year like this, bitcoin holders naturally became enthusiastic about the year, then came the June drop due to the sell-off. Such a turn resulted in an attention to prices prediction. Although bitcoin price prediction may not always be 100% accurate because there is no systematic formula for it; paying attention to n what enthusiasts are saying can help you anticipate some fluctuations.
Bitcoin price predictions are necessary because it can inform investment decisions of bitcoin holders (when to invest, what to invest in, etc.) and after the June swing, the need for this is well underway. We need to look at several predictions and try to connect the dots rather than just depend on one price prediction. Below are some of the top bitcoin price predictions for 2019.
Bitcoin price prediction
John McAfee: John McAfee’s bitcoin prediction is definitely the most exciting prediction being made about 2019 bitcoin price, saying that bitcoin price will get to $1 million by the end of 2020. This is exciting not only because of the scale of the prediction but also to the attitude he attached to it, saying he would perform a ridiculous act on live television. $1 million bitcoin price is on the high side and John seems so sure of his prediction that every crypto enthusiast out there is keeping up, looking towards what will happen. With the dollar value of bitcoin at the moment still less than $10000, there is definitely a long way to go before it hits 1 million. However, considering the volatile nature of Bitcoin, you can’t completely rule out the possibility.
Jesse Lund: Before any of bitcoin’s increase, Jesse Lund predicted in February that bitcoin’s price will increase up to $5000 at the end of 2019 and then eventually get up to 1 million in 2020. This makes John McAfee’s prediction even more interesting because it has the same foresight for the end of 2020, hence, makes the prediction even more believable. With a closer look at Jesse Lund’s prediction, we can see that Bitcoin price has already exceeded the amount he predicted and almost doubled it in May. Hence most crypto enthusiasts, even those that rather play it safe believe in Jesse Lund’s prediction, even making investment decisions in that light.
Zhu Fa, Poolin co-founder: Zhu Fa also has his prediction about bitcoin. This prediction is worth listening to because he owns the Poolin mining pool which accounts for 10% of Bitcoins being mined. It is from this experience that Zhu Fa’s prediction is informed, he believes that bitcoin will increase in value getting up to quarter of a million. With three people predicting about a million in bitcoin’s value, it is viable to want to believe in that number.
Sony Singh: Sony Singh also his prediction for bitcoin’s value at the end of 2019. After being interviewed by Emily Chang, Sony admitted that he expects bitcoin price to increase to a large extent from the $3500 value it began with in February. Sony explained that by November, Bitcoin price should be well between $15000 and $20000 backing this up with the possibility of crypto related ETF start-up. As the chief commercial officer at Bitpay and with his reason being backed up by possible future advancement in the industry, Sony’s prediction enters as one of the top predictions for bitcoin price in 2019. Especially seeing as other crypto-related industries in the past have led to an increase in the price of bitcoin.
A survey of Bitwise Financial advisers: Financial advisers at Bitwise came together to give their individual 4 years predictions for the price of Bitcoin, and then a mean of the predicted values was taken. The result showed optimism towards the expected value of Bitcoin. They came up with $17571 price for bitcoin in the next 5 years (2023). This value was informed by them playing a safe and realistic approach to their predictions rather than an outright optimism towards what they expect. The collective prediction of these financial advisers although safe, is a value that is easy to work with considering their knowledge and experience at Bitwise.
Bobby Lee: Bobby Lee predicted an up and down case in the future value of Bitcoin, expecting it to reach $333000 by 2020 but then drop further to $41000 in 2023. However, in addition he views the major turning point for bitcoin to be at $60000 after which there will be a very steep increase before the future decline. Bobby Lee roots his prediction in his knowledge of financial history and expects that in a case where history is repeated, these are what is to be expected in the bitcoin price market.
Coinswitch: After a review of different long term and short-term Bitcoin predictions, an article published by Coinswitch shows a prediction for the price of bitcoin at the end of 2019. Coinswitch maintains an optimistic approach towards the future of Bitcoin, considering the pros of Coinswitch and BTC future launched by NASDAQ. Their price prediction has Bitcoin price getting up to $23499 at the end of 2019 with even more increase predicted for 2020.
At the end of all the predictions, one notable fact is that everyone expects bitcoin to increase value at the end of the year 2019, with different value predictions, the lowest being the $5000 prediction by Jesse Lund. Although with bitcoin prices, there is always a looming possibility that predictions can go wrong and one or two person’s may be wrong, sometimes the price goes up beyond fore-seen predictions. Hence, it is important to pay attention to bitcoin price prediction from informed individuals who are not only bitcoin holders but are active in the technological phase of Bitcoin. A summary is that 2019 will be a good year for Bitcoin prices with a possible increase from the current $8700 at the end of the year.
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