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The attention of many people around the world focuses on the Bitcoin price. No one can say with certainty, where will he go next year, or for more in a few years. Some people believe that the cryptocurrency industry has already reached its maximum and all we are waiting for is a continuous decline in value. But there are experts who are sure that the top brands of BTC are starting and we expect new heights in the future. Well, let's try to examine the issue and analyze the words of the world's leading financial experts.
1. Analysis of the current situation
As we all remember, the capitalization of the cryptocurrency market reached its maximum 831 billion dollars in January 2018. After that, a deep and prolonged correction began, which continues until now partially. At the time of writing, the market capitalization is 107 billion dollars, the price of Bitcoin has fallen 6 times and many coins have become cheaper 10-20 times.
Source: CoinMarketCap
At first glance, everything seems to be bad and the prospects are rather vague. But what if we tell you that everything is absolutely opposite and now is the best time to invest in cryptocurrency? We are ready to support our words with concrete facts on which very few people speak.
- Continued growth of the network hahrate. Despite the fact that the price of the first cryptocurrency has shown a negative profitability for the entire 2018, the total computing power of the Bitcoin network is constantly growing. It means miners are increasing their production capacity. And they are not small or medium-sized farms, since their share is negligible on the general fund.
Source: https://bitinfocharts.com/
After analyzing this chart, it seems that the big miners continue to invest hundreds of millions of dollars in equipment. This means that the main players continue to believe in the further development of the sector, and therefore in the future growth of the BTC rate.
- Development of the infrastructure. In 2018, investor interest in cryptocurrency eased somewhat, but this did not affect infrastructure development. Every day the number of places where you can pay with cryptocurrency increases (paying taxes in the United States, real estate, online purchases, transport tickets, physical points of sale and more). It's a very good trend, because the more places you can pay with BTC, the more people will be involved in the digital economy.
- The acceptance of cryptocurrency at the government level. In 2018, for the first time in 10 years of Bitcoin's existence, they began to talk about it internationally. If none of the world leaders has given enough attention to this topic before, this year at the G20 summit this topic has been put on the agenda. World leaders have agreed that it would be useless to ban cryptocurrencies and no one would. On the contrary, it was decided to develop an international legislative framework.
- It is still possible to become a "pioneer". If you go to the bitinfocharts.com website and check out how many Bitcoin wallets are currently registered, you can see the number that does not exceed 23 million. Taking into account that over 15 million of them are portfolios, whose balance does not exceed $ 100. The population of our planet is now about 7.6 billion people. We take 40% of the insolvent people (children, pensioners, people living in a third world, etc.) – it comes out close to 4.5 billion people. After comparing these numbers, it seems that there are still very few people really involved in the cryptocurrency sector. This means that a large-scale global acceptance of technology does not yet exist. This gives us the opportunity to become pioneers. After cryptocurrency becomes commonplace for any person (such as a credit card in our day), we reap the benefits. Most likely you will hear such an expression in the future: "Why did not I buy Bitcoin in 2018?".
2. Forecasts for experts for 2019-2020
Now let's see what famous experts say about the near future of Bitcoin, or its price.
Mike Novogratz, CEO of Galaxy Digital, believes that the launch of the Bakkt and Fidelity Digital Assets platforms will influence the entry of new investors into the cryptocurrency market. According to Mike's opinionnow the most important point of resistance is the score of $ 3,880. If we exceed it, the rate could reach $ 9,000 until the new year. The next important sign is $ 10,000. After passing it, the price of BTC 2019 will increase dramatically. Novogratz has no doubt that next year the Bitcoin rate will exceed its historic maximum of $ 20,000.
Tom Lee, he is one of the leading analysts on Wall Street. Previously, he stated that until the end of 2018, the Bitcoin rate will exceed the limit of 25 thousand dollars. But after a few months, precisely in July 2018, he slightly revised his views and named the new price of Bitcoin 2019 – $ 22 thousand.
The predictions of John Mcafee it is the bravest of all on the market. He believed it by December 2020, the price of a bitcoin will be $ 1,000,000. Also, John is confident in his predictions like no other. In his view, in the near future, Bitcoin will replace the dollar, which will cause a huge demand.
3. Conclusion
After analyzing the current situation and the words of the experts in the field, we can conclude that Bitcoin and cryptocurrency in particular have a great future. Now we are only at the beginning and in the next decade, the cryptocurrency will change our lives. It should be noted that this article is not an invitation to invest in cryptocurrency. These are just our subjective thoughts on the future development of the industry. Remember, any investment carries certain risks.
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