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Bitcoin determines its value by supply and demand as the same as the equity class as well. Moreover, it is entirely decentralized and therefore it would be possible for any one individual to control the entire supply.
Bitcoin as well as other cryptocurrencies. Some of the people think that this is just temporary. Bitcoin volatility is actually a feature of the cryptocurrency rather than just a short-term problem. It is this volatility which makes it increase in just a year. Therefore, if the volatility reduces the returns it would be reduced.
Moreover, many of the media outlets are hyping up this volatility in order to feature the negative side of Bitcoin. It can easily be halve as well. This is exactly what is happening with the Bitcoin cryptocurrency. Moreover, many of the companies, as well as investors, are stating that Bitcoin is nothing more than a Ponzi scam. This is again not true at all.
How much is Bitcoin worth? Bitcoin (BTC) Price Today / USD
SEE ALSO: Bitcoin Price Predictions 2018: How high can Bitcoin price go in 2018? Up to $ 1 million or down to $ 100? (In-Depth Analysis)
Volatility hurting people:
There are many stories where people have actually taken at 2na mortgage on their home in order to invest Bitcoins at the peak. They are actually suffering from the crisis in the cryptocurrency. South Korea have several such stories in their media.
On the other hand, there have also been some investor news in Bitcoin a few years back and now we have made over 1000% returns in just a short period of time. Both sides of the coin This is the reason why Bitcoin is actually a volatile asset that can not just reduce the volatility.
Thus, if you're thinking of investing in cryptocurrencies, it is important for you to understand that the volatility is here to stay. If you're investing at inflated valuations, you run the risk of suffering from losses in the shorter term. However, if you're thinking of holding Bitcoins for longer periods of time, you would suffer no problems at all.
Bitcoin Price Predictions 2019: How high can Bitcoin price go in 2019? Up to $ 1 million or down to $ 100? (In-Depth Analysis)
Bitcoin prices in 2018 had been marked by volatility which has been bitcoin price prediction in short-term with a challenge, even for the experienced analysts.
But it has a lot of history which makes it an equal challenge predicting which history will be repeated. Area of the study of past trends to get predictions spot-on this time and so on
Analysts, enthusiast, and industry figures have very diverging opinions and bitcoin price predictions for both long and short-term. In the United States of America.
Here we are saying what and why, here's a heads-up. Expect a lot more price fluctuations in the interim. Bitcoin is headed by the year's end.
Let's hear from Bitcoin experts about Bitcoin Price Predictions in 2019
Joel Kruger, cryptocurrency strategist at LMAX Exchange
"Our 2019 outlook for Bitcoin is going to be close to, we had warned Bitcoin had rocketed 'past the point of rational appreciation' and highlighted massive downside risk in a bubbling market with far too many holes (regulation, development, hard forks).
"As we head into 2019, Bitcoin has retraced that move, and with a recent breakdown below the $ 6,000 area, opening this next downside extension that targets the September 2017 low at $ 2,975.
Bitcoin through $ 2,000, we do not believe that we will not be able to do so.
Bitcoin is not yet mature enough in its ten year life to be as good as the market would like to be for flight to safety. Ultimately, we believe that we are going to be able to raise money, that we will be able to invest in. horizons into traditional risk off plays.
"Bitcoin will regain its footing and get it back to the topside".
"This leaves us with an outlook for Bitcoin in 2019 that we can see a continuation of weakness in the first half of the year, before the market finally stabilizes and starts to cryptoassets.
"We'll look for Bitcoin to round out 2019 trading back in the $ 5,000 to $ 8,000 region, after recovering from those that have extended below $ 2000 between now and the end of H1 2019."
Mitch Blakeway, Head of Trading at Quantatex
"We expect a high degree of volatility in the very near future.
Bitcoins has been moved from cold storage to hot storage by significant influencers in the cryptocurrency market. What this means is that investors are gearing up to trade. This could mean greater than 10% in either direction.
$ 2,850 level for Bitcoin and resistance around $ 4,000 so at break below $ 2,850 or above $ 4,000 could lead to momentum in that direction.
"We believe that Bitcoin will shrug off the recent weakness during 2019 and expect the price to retest highs of $ 20,000 by December 2019. This is justified on a number of fronts.
"We expect an ETF in Bitcoin to be authorized by the SEC in 2019. We expect to continue with certain cryptocurrencies such as Ripple (XRP) by banking institutions during 2019, which will have the knock on effect of positivity for Bitcoin as other cryptocurrencies tend to be 'pegged' to Bitcoin.
"We also believe that once the selloff has finished and will be modest headroom above the current price which will allow for buying momentum.
"During the dotcom boom the price of Apple shares went from $ 1 to $ 4 before 'collapsing' to $ 1 again. It is now about $ 176 per share at the time of writing, therefore anyone fearing the worst after the dotcom boom would have missed out anyone with a bit of courage and forward thinking would have seen significant returns. "
Bitcoin 2019 Price Predictions:
Surely, Bitcoin is headed up – John McAfee
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being very positive about Bitcoin. He predicted that Bitcoin price will hit $ 1 million by 2020 following last year's prediction of $ 7,000 which was well surpassed.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"BTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $ 1 million by the end of 2020. I will still eat my d ** k if wrong " – John McAfee[/perfectpullquote]When I predicted Bitcoin at $ 500,000 by the end of 2020, BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $ 1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD
– John McAfee (@officialmcafee) November 29, 2017
Bitcoin, his prediction considered the factors like the increased adoption of Bitcoin and blockchain as well as a total cryptocurrency market cap $ 162 billion which gives large room for growth.
Expect stability only after 10 years – Kristjan Dekleva (Hedge)
The Swiss-based financial expert will have a brace up for a decade of turbulence before any hope for a stable bitcoin. This will coincide with a general acceptance of Bitcoin even in hard-stance China. This though, not as a fiat replacement but a viable alternative.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"In my opinion, it will be at least 10 years before we see stability". – Kristjan Dekleva (Hedge)[/perfectpullquote] The finance expert at the cryptocurrency project Hedge sees Bitcoin investments as all-too-similar to the DotCom bubble of the 90s.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"In the short-term, a small rumor can have a big impact …Demand is driven by market speculation, but the absence of institutional investors means the market is unstable.[/perfectpullquote]
Instability it is. Next stop is the prestigious Harvard.
Bitcoin to shrink to $ 100 – Kenneth Rogoff (Harvard Prof & former IMF chief)
Bitcoin, a former chief economist at the International Monetary Fund (IMF) Kenneth Rogoff has been pouring icy water on hopes of Bitcoin making it to the moon.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"I think Bitcoin will be a tiny fraction of what it is now if we're headed out 10 years from now … I would see $ 100 as a lot more likely than $ 100,000." – Kenneth Rogoff[/perfectpullquote] Rogoff's prediction is based on the long-held belief that the government will rise against anonymous virtual currencies like Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble but to Bitcoin pioneer on Wall Street thinks along very different lines.Bitcoin is the future; Fiat is Past – (Tim Draper, Venture Capitalist)
In 2014 with bitcoin at only $ 413, popular VC, Tim Draper predicted bitcoin to reach $ 10,000 in three years. Him was fulfilled a month earlier than he preached earning him a reputation among crypto fans. Though he did not categorically predict a $ 100k Bitcoin in 2018, he said he expected the bitcoin to continue his growth in an interview with Bloomberg last year. Tim Draper has made successful bets with Tesla, Skype, and Twitter in the past.
We are in for six digits. Maniacal right? That's exactly how Draper feels about Bitcoin prospects. Now on someone who understands a lot about bitcoin's 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 the cryptocurrency is on the right track -specifically, on track to reach the $ 40,000 mark. Cryptocurrency will be as risky as it is exciting.
Bitcoin Will hit $ 320,000 someday – Cameron Winklevoss (co-founder, Gemini)
One of the popular Winkelvoss twins, Cameron Winklevoss recently said that he could easily see the price of BTC go up 40% someday. This year maybe? Not likely. The twin said he and his brother were taking longer outlook, 10 to 20 years.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"Bitcoin is actually fixed in supply so it is better than scarce … We think about the price in the last few weeks, it's still a very underappreciated asset. "- Winklevoss [/perfectpullquote] The fourth wealthiest cryptocurrency investor weighed bitcoin's prospect against gold and came up with a resounding verdict. "We believe bitcoin disrupts gold," He said.Bitcoin will reach $ 1million – Bobby Lee (BTCC Exchange CEO)
Bobby Lee, CEO of China's first Bitcoin exchange, went overboard with his prediction. Lee said bitcoin will surpass $ 1 million but unlike McAfee, he could see this happen in 20 years' time.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"Bitcoin, I think will get to $ 1 million for bitcoins … Right now it's 10,000, it will go 100,000 and then 200,000, 500,000." – Bobby Lee[/perfectpullquote]IN SUMMARY
Be good to be into actual predictions. We observed a general trend in their assessments.
Expect Price Fluctuations:
At this stage, bitcoin and cryptocurrencies will be greatly affected by speculations. Even small developments in governments, traditional will likely affect prices. Most say the fluctuations are normal and would not affect the longer term outlook.
Long-term outlook
Experts would prefer to make predictions over a longer period. Bit is priced for 2020 or at 10 to 20-year outlook. While the current reality may suggest some gloom, it's worth remembering that the heights achieved last year came amidst similar corrections along the way. It's only the 1st quarter of the year.
Bitcoin will be the standard for virtual currencies.
It has been tipped to remain the king of all cryptocurrencies. It's not going to be a case of "who will be impressed with their special use cases". It is a fact that technology behind bitcoins is less sophisticated when compared to many other projects like ethereum.
Bitcoin as a store of value
Gradually, bitcoin is being seen as a store of value that is an actual currency being compared to gold and other assets. Bitcoin was originally designed as an alternative currency to bank the unbanked. Most of the decision making bodies and financial experts, however, see Bitcoin more as a store of value, an asset rather than a medium of transaction.
Many Altcoins will suffer
Cryptocurrencies will include a clean-up of "useless" cryptocurrencies. A good number of the 2,000 coins will naturally go away as their value become worthless-only, only a fraction of cent. Brad Garlinghouse, the CEO of Ripple and Llew Claasen of Bitcoin Foundation
Economics of Scarcity
The limited supply of bitcoin-a fixed supply 21 million BTCs-will play a role in its price; if not now, in the future.
Outside factors will play a significant role
The observers believe that the adoption of bitcoin will ultimately dictate the price in the short-term. The creation and performance of futures markets, for instance, is expected to be tilted the price either way.
There are still concerns about bitcoins
Bitcoin a general bad image. This image, analysts believe will affect its future.
Finally, Caution against risking your life savings
Crypto investments are new and super-risky. Remember ethereum founder saying that cryptos are so risky the prizes might actually drop to zero. Well, that does not seem to be practical but the message was clear. Do not invest your life savings in bitcoin or cryptocurrencies generally. Just like John Draper noted, you still need to buy stuff in fiat. So while bitcoin will be worth more in the future, it's advisable to invest as much as one can afford to lose.
The crypto market has survived an attack on South Korea's largest crypto exchange Bithumb. Undisclosed coins, however, the bad news is that the hacker has not been communicated. Tuesday night and Wednesday morning. Bithumb exchange announcement read:
"All deposit and withdrawal will be stopped. We will keep you aware of the restart of the service. We apologize for your inconvenience and thanks for your understanding. "
The exchange has put a stop to deposits and withdrawals and customers have asked to comply. For security, Bithumb has moved its assets to cold storage. More announcements from the exchange read:
"[Notice for the temporary suspension of the deposits].Two to the increasing safety issues, we are changing our wallet system. Please do not deposit until we notify. * All deposits are not deposited into your wallet until all changes are completed. "
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