[ad_1]
Bitcoin, the first largest cryptocurrency, has had it rough since it reached its peak at $ 19,500. After the 2017 December to 2018 January frenzy ended, everyone was expecting BTC to recover. Unfortunately, it did not recover and things only got worse. Right now, BTC is hovering above $ 4,000 and there is no saying when another bear grip will take the price below this level.
As expected, they are going to end soon. While BTC may find stability short-term, it's going to be a long-term effort to get its all-time high of almost $ 20,000.
Statistics have shown that retail investors lost the most during this bearish market. This is why the major sell-off was no surprise. What's more, these small scales are likely to return to the market any time soon. Only older clients who believe in the industry will most likely remain.
They did not just affect them financially, they also affected them emotionally and well. Imagine a new investor entering into the market when the price was as high as $ 19,500 and remaining in the market until it fell to as low as $ 4,200 and even lower. This can be a serious psychological effect on a person.
Experts Talking About The Future Of BTC
At Bitcoin and technology researcher, Boris Hristov had a lot to say about the current market conditions. BTC is going to regain its garner legitimacy and composure is if institutional investors enter the market. However, because they are not willing to take the financial risks attached to trading cryptocurrencies, they do not want to get involved in the market. In his words:
"Some potential institutional candidates are Marco funds CTAs, multi-strategy funds and alternative strategies have about $ 600 billion AuM. Commodity assets alone that are held by hedge funds were $ 300 billion as at 2017. It makes up for 10% of the AuM. BTC may fall into this bucket. Macro funds are potential institutional candidates. However, the current circumstances are bleak. "
Fidelity and Goldman Sachs referring to the role of playing field. These services will help them invest in a volatile market through over the counter trading.
Robert Sluymer, Also From Fundstrat, Sees Bitcoin Bottoming
Down the street in CNBC's broadcasting room, Sluymer pointed out the series of higher lows which the price of Bitcoin should hold at if the market stays in a bearish state.
He reiterated that he believes that Bitcoin is about to "challenge its downtrend," with Bitcoin's price movement.
Bitcoin's RSI was sitting at a very low level.
Sluymer said:
The setup is there, but what we need to see
However, like many analysts, Sluymer had something to say about the unlikely chance of a 'worst comes to worst' scenario. But Sluymer has still shared the bullish sentiment with his co-worker, Tom Lee, saying:
If you're short we think you should be careful and reducing your short exposure. I think if you're looking to be long.
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 2019 have been marked by volatility which has been bitcoin price prediction in short-term with a challenge, even for the experienced analysts. So far, 2018 has presented its own surprises though we do not see the rollercoaster we say in 2017.
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.
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.
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. He said he expected the 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.
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 week at the London Blockchain Week 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 than 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.
