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Bitcoin determines its value by supply and demand that is equal to the share class. Furthermore, it is entirely decentralized and therefore it would not be possible for anyone to control the whole supply.
Many people are tired of the growing volatility of Bitcoin and other cryptocurrencies. Some people think this is only temporary as volumes grow, volatility decreases, but some have a different view. According to some investors, the volatility of Bitcoin is actually a feature of cryptocurrency, rather than a short-term problem. Moreover, according to them, it is this volatility that makes it increase many times in just one year. Therefore, if volatility reduces returns it would also be reduced.
Moreover, many of the media are actually increasing this volatility to present the negative side of Bitcoin. The truth is that if a business class increases more than 20 times in a single year, it can easily halve. This is exactly what is happening with the Bitcoin cryptocurrency. In addition, many companies, as well as investors, claim that Bitcoin is nothing more than a Ponzi scam. This is not yet true at all.
How much is Bitcoin worth? Bitcoin (BTC) Price today / USD
SEE ALSO: Bitcoin Price Predictions 2018: How high is the price of Bitcoin in 2018? Up to $ 1 million or up to $ 100? (Detailed analysis)
Volatility that hurts people:
There are many stories where people have actually taken a 2ND mortgage on their home in order to invest Bitcoin at the peak. They actually suffer from depression and other similar problems due to huge losses in cryptocurrency. Countries where the number of investors is as high as South Korea have several similar stories in their media.
On the other hand, there are also stories of investors who had invested in Bitcoin a few years ago and now have achieved returns of over 1000% in a short period of time. So, the stories are on both sides of the coin. This is why Bitcoin is actually a volatile resource that can not only reduce volatility.
So, if you are thinking of investing in cryptocurrencies, it is important for you to understand that volatility is here to stay. You must understand that if you are investing in inflated valuations, you run the risk of suffering losses in the short term. However, if you are thinking about keeping Bitcoin for a longer period of time, you will not suffer any problems.
Bitcoin Price Predictions 2019: How high is the price of Bitcoin in 2019? Up to $ 1 million or up to $ 100? (Detailed analysis)
Bitcoin prices in 2018 were marked by volatility that made short-term bitcoin price forecast a bit of a challenge, even for experienced analysts.
The story generally has a way of repeating itself, but the bitcoin has a lot of history that makes it an equal challenge to predict which story will be repeated. It takes a lot more than a study of past trends to get timely predictions right now and so we closed this article by highlighting some area experts who were watching.
Analysts, enthusiasts and industry figures have very divergent views and forecasts on both long and short-term bitcoin prices. Optimism is still high in many quarters – reports from a new survey among UK financials suggest that a large majority will buy more coins in hopes of a resumption of prices by the end of the year.
As we delve into who's saying what and why, here's a heads-up. Expect many more price fluctuations in the meantime. It will be a bumpy ride to get anywhere Bitcoin is in the lead by the end of the year.
We hear from Bitcoin experts on Bitcoin Price Predictions in 2019
Joel Kruger, cryptocurrency strategist at LMAX Exchange
"Our 2019 forecasts for Bitcoin are much more constructive than we anticipated for 2018. By the end of 2017, we had warned that Bitcoin had surpassed" the point of rational appreciation "and highlighted a massive downside risk in a boiling market with too many holes (regulation, development, hard forks).
"Towards the end of 2019, Bitcoin retraced that move and then some, with a recent break below the $ 6,000 area, opening this next bearish extension pointing to a major decline towards the September 2017 low at $ 2,975.
"Although we do not rule out a bearish extension that brings Bitcoin to $ 2,000, we do not believe that the price will spend too much time under this barrier and we will begin to find a new question before a possible rejection to the high.
"As much as the crypto market would like to make the argument for Bitcoin as an asset value deposit, at this stage of the game, Bitcoin is not yet mature enough in its ten years of life to take on a role as a port for flight In the end, we believe that risk markets are still exposed to the reality of exhaustion of monetary policy, and the profit of investors in high equity securities will likely lead to a flight to a security offering that has a lot of that speculative money in Bitcoin, intended for safer use horizons in traditional risk games.
"But we also believe there is tremendous potential that comes from decentralized, digital, peer-to-peer currency, and as we begin to see possibilities more clearly, Bitcoin will regain the bases and return to trading at the top.
"This leaves us with a prospect for Bitcoin in 2019 that could see a continuation of weakness in the first half of the year, before the market finally stabilizes and begins to rise in anticipation of what should be a second wave of cryptoassets.
"We will be looking for Bitcoin to end the 2019 trading in the region from $ 5,000 to $ 8,000, after recovering from the lows that may have expanded below $ 2000 between now and the end of the first half of 2019."
Mitch Blakeway, Head of Trading at Quantatex
"We expect a high degree of volatility in the near future.
"A high level of Bitcoin has recently been moved from the cold store to hot storage by important factors of influence in the cryptocurrency market, which means that investors who have the opportunity to move the market are gearing up for trade This could mean shifts of more than 10% in both directions.
"There are significant levels of support and resistance with support around the $ 2,850 level for Bitcoin and resistance around $ 4,000, so a break below $ 2,850 or above $ 4000 could lead to a surge in that direction.
"We believe that Bitcoin will eventually shake off the recent weakness of 2019 and expect the price to reduce the $ 20,000 record by December 2019. This is justified on a number of fronts.
"We expect a Bitcoin ETF to be authorized by the SEC in 2019. We anticipate the continued adoption of certain cryptocurrencies like Ripple (XRP) by banks in 2019, which will have a positive effect on Bitcoin given that other cryptocurrencies tend to be "pegged" in Bitcoin.
"We also believe that once the sell-off is over, there will be a modest margin above the current price that will allow us to gain momentum.
"During the dotcom boom, the price of Apple shares rose from $ 1 to $ 4 before" collapsing "back to $ 1. At the time of writing this article, it is now trading at around $ 176 per share, so anyone he fears the worst after the dotcom boom would be lost, while anyone with a bit of courage and foresight would have seen significant returns. "
And now some old fashion experts talk about Bitcoin 2019 price forecasts:
Surely, Bitcoin is directed – John McAfee
John McAfee, Bitcoin supporter and founder of the famous McAfee antivirus software, is very positive about Bitcoin. He predicted that the price of Bitcoin will reach $ 1 million by 2020 after last year's forecast of $ 7,000, which was exceeded.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"BTC accelerated much faster than my assumptions about the model, and now I expect Bitcoin to be $ 1 million by the end of 2020. I will still eat my d ** k if I'm wrong" – John McAfee[/perfectpullquote]When I predicted Bitcoin at $ 500,000 by the end of 2020, it used a model that included $ 5,000 at the end of 2017. BTC accelerated much faster than the assumptions of my model. Now I'm preaching Bircoin for $ 1 million by the end of 2020. I'll still eat my dick if I'm wrong. pic.twitter.com/WVx3E71nyD
– John McAfee (@officialmcafee) November 29, 2017
Apart from the economy at the base of Bitcoin's limited supply, its forecast took into consideration factors such as the increase in the adoption of Bitcoin and blockchain and the total capital cap of cryptocurrency of about $ 162 billion, which offers ample room for growth.
Expect stability only after 10 years – Kristjan Dekleva (Hedge)
The financial expert based in Switzerland will give us courage for a decade of turbulence before any hope for a stable bitcoin. This suggests that it will coincide with a general acceptance of Bitcoin even in difficult China. This however, not as a fiat substitution but as a valid alternative.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"In my opinion, it will take at least 10 years to see stability". – Kristjan Dekleva (Hedge)[/perfectpullquote] The finance expert on the Hedge cryptocurrency project sees Bitcoin investments all too similar to the DotCom bubble of the years 90.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"In the short term, falls have been driven by emotion and in many cases by misinformation – a small voice can have a big impact …Demand is driven by market speculation, but the absence of institutional investors means that the market is unstable.[/perfectpullquote]
Instability is. The next stop is the prestigious Harvard.
Bitcoin will shrink to $ 100 – Kenneth Rogoff (Harvard Prof and former head of the IMF)
Known for his disparaging remarks against Bitcoin, a former chief economist of the International Monetary Fund (IMF), Kenneth Rogoff poured icy water on the hope that Bitcoin had arrived on the moon.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"I think Bitcoin will be worth a small part of what it is now if we go out in 10 years from now … I would see $ 100 as much more likely than $ 100,000." – Kenneth Rogoff[/perfectpullquote] Rogoff's prediction is based on his long-held belief that governments will rise up against anonymous virtual currencies such as Bitcoin. The government regulations, according to Rogoff, will burst the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks on very different lines.Bitcoin is the future; Fiat has passed – (Tim Draper, Venture Capitalist)
In 2014 with bitcoins for only $ 413, the popular VC, Tim Draper predicted bitcoins to reach $ 10,000 in three years. This came true a month earlier than expected to earn a reputation among cryptographic fans. Although he did not categorically expect a $ 100k Bitcoin in 2018, he said he expected Bitcoin to continue its growth in an interview with Bloomberg last year. Tim Draper has made successful bets with Tesla, Skype and Twitter in the past.
Assuming that this growth takes place at the same rate as the 3-year journey up to $ 10k, we are six figures. Maniacal, right? That's exactly what Draper tries out of Bitcoin's prospects. Now on someone who understands a lot about the bitcoin foundation.
Bitcoin will hit $ 40,000 – Llew Claasen (executive director, Bitcoin Foundation)
Last month, Llew Classen made a bold statement to reassure Bitcoin believers that cryptocurrency is on the right track, in particular, on its way to reaching the $ 40,000 mark. Although his view of some altcoin supporters has not been very encouraging, he made it clear that as something new, the cryptocurrency will be as risky as it is exciting.
Bitcoin will reach $ 320,000 a day – Cameron Winklevoss (co-founder, Gemini)
One of the famous Winkelvoss twins, Cameron Winklevoss recently stated that he could easily see the price of BTC rise by 40% a day. Maybe this year? Not likely The twin said that he and his brother were taking a longer perspective, 10 to 20 years.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"Bitcoin is currently fixed in the supply, so it's better than poor … it's equivalent to better gold across the board.We think that regardless of price changes over the last few weeks, it's still a very little appreciated resource." – Winklevoss [/perfectpullquote] The fourth richest investor in cryptocurrencies has weighed the bitcoin against gold and has issued a resounding verdict. "We believe that the bitcoin upsets the gold" He said.Bitcoin will reach $ 1 million – Bobby Lee (BTCC Exchange CEO)
Bobby Lee, CEO of Bitcoin's first Chinese exchange at London Blockchain Week, exaggerated his prediction. Lee said bitcoin will exceed $ 1 million but unlike McAfee, he could see it happen in 20 years.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"Bitcoin, I think it will reach $ 1 million per bitcoin … Right now it's 10,000, it will go to 100,000 and then to 200,000, 500,000." – Bobby Lee[/perfectpullquote]IN SUMMARY
A good number of analysts have also had their opinion even if very few would have been dragged into real forecasts. We have observed a general tendency in their evaluations.
Expect price fluctuations:
In this phase, bitcoins and cryptocurrencies will be strongly influenced by speculations. Even small developments in governments, traditional prices will probably affect prices. Most say that fluctuations are normal and do not affect long-term prospects.
Long-term prospects
Experts would prefer to make predictions over a longer period. It is more common to have bitcoin price forecasts for 2020 or a 10 to 20 year perspective. While current reality may suggest a bit of sadness, it is worth remembering that the heights reached last year have come amid similar corrections along the way. It is only the 1st quarter of the year.
Bitcoin will be the standard for virtual currencies.
Although bitcoin may have a limited use case, it has been suggested to remain the king of all cryptocurrencies. It will not be about "which altcoin will exceed bitcoin" rather than how they will impress on their special use cases. It is a fact that the technology behind bitcoin is less sophisticated than many other projects such as ethereum.
Bitcoin as a reserve of value
Little by little, bitcoin is seen more as a store of value than a real currency is compared to gold and other assets. Bitcoin was originally designed as an alternative currency to cash out the unbanked. Most decision-making bodies and financial experts, however, see Bitcoin more as a store of value, a resource rather than a means of transaction.
Many Altcoin will suffer
Part of the process that will lead to the general acceptance of cryptocurrencies will include a cleanup of "useless" cryptocurrencies. A good number of the 2,000 coins will naturally go as their value becomes useless: some, only a fraction of a cent. Brad Garlinghouse, CEO of Ripple and Llew Claasen of Bitcoin Foundation are among those who raise this alarm.
Scarcity economy
The limited supply of bitcoin, a fixed supply of 21 million BTC, will play a role in its price; if not now, in the future.
External factors will play a significant role
Many observers believe that the external factors that influence the adoption of bitcoins will ultimately determine the price in the short term. The creation and trend of futures markets are expected to pry the price in both ways.
There are still concerns about bitcoins used for illicit purposes
Because of the anonymity of Bitcoin transactions, it was used to conduct illegal activities that give Bitcoin a bad overall picture. This image, according to analysts, will influence its adoption and, ultimately, its future prospects.
Finally, attention to the risk of life savings
Crypto investments are new and super-risky. Remember the ethereum founder who claims that the criptos are so risky that the premiums could actually drop to zero. Well, that does not seem practical but the message was clear. Do not invest the savings of a lifetime in bitcoins or cryptocurrencies in general. Just as John Draper noted, you still need to buy things in fiat. So even if the bitcoin will evaluate much more in the future, it is advisable to invest as much as one can afford to lose.
The crypto market has survived an attack on South Korea's biggest cryptic exchange, Bithumb. The bad news is that the hack was successful and the hackers lost about $ 31 million in undisclosed currencies, however, the exact amount of stolen money was not disclosed. It is said that the time of the attack was between Tuesday evening and Wednesday morning. The Bithumb exchange announcement read:
"All deposit and withdrawal services will be interrupted to ensure security, we will keep you informed of the restart of the service, we apologize for the inconvenience and thanks for your understanding."
The exchange put an end to deposits and withdrawals and the customers asked to comply. For safety, Bithumb has moved its resources to cold storage. Other announcements from the exchange read:
"[Notice for the temporary suspension of the deposits]. Due to growing security problems, we are changing our wallet system. Please do not deposit until we notify you. * All deposits are not deposited in your wallet until all changes have been completed. "
reported
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