[ad_1]
The year of 2018 had not been favorable to cryptocurrencies. Bitcoin had lost more than half its highest value only within a short period. At the beginning of the year, many experts predicted that Bitcoin would triple its all-time high in 2018, but six months later, with Bitcoin struggling to stay in the $ 4,000 level, some experts believe it will sell up to $ 60,000.
Bitcoin (BTC) Price today
This article has been updated daily for price changes.
Bitcoin can sell up to $ 60,000?
Phillip Nunn, a renowned expert on ICO and cryptocurrency, has predicted that Bitcoin will drop to $ 6,000 and will go up to $ 60,000. Many people doubt that Bitcoin will ever sell more than $ 20,000 again with less than $ 60,000.
Despite the negative atmosphere of the market, Nunn insists that Bitcoin will be led by the blockchain to a whole new level. During an interview with Business Could, he said:
"The truth is that we are moving away from depending on the internet of information depending on the value of the internet, everything will be interrupted by record keeping, financial problems, legal issues, which is why I will continue to follow my prediction ".
Nunn is convinced that his forecast of high volumes is possible due to the high volatility of the market.
Nunn continued:
"My prediction was based on the volatility of the market that is currently in the air, of course."
Will his prediction come true?
The cryptocurrency industry is still new and small compared to other industries. This is an advantage and a disadvantage because the small market capital of the sector makes price manipulation relatively easy. On the other hand, things like safety and regulation can be a challenge for the industry.
So, anything can happen. Everyone will just have to wait and see if the prediction will come true.
Let's have a look at the prediction of another expert.
Joel Kruger, currency 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 start 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."
