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The crypto market is yet to start the much expected bull run. The digital currencies in the market are still deep in the red. Bitcoin (BTC) is yet to recover, and it's still struggling to break over the $ 4,000 level. The digital currency recently broke the key psychological levels of $ 6,000 and $ 5,000. The value of the coin is now eyeing the $ 3,000 mark.
The value of Ethereum (ETH) is one of the most discouraging in the market. I think the glory days are long gone. Ethereum (ETH) traded close to the $ 1,500 in December last year. Nevertheless, the digital currency is now reduced by more than 90 percent from its all-time high. Ethereum is now trading below the $ 110 mark at the press time.
According to Forbes, the co-founder of BTC China – Bobby Lee – no longer into the use of cases of blockchain technology outside the world of Bitcoin. The DLT (Distributed ledger Technology) is the main deal that is more likely to transform our lives. No doubt, the government also used this technology for a lot of pilots.
For instance, blockchain technology is used for land registry in Georgia. This has greatly reduced the time, as well as the cost of registering a property. Many governments, all over the world, have adopted this technology for one thing or the other.
Another Bitcoin (BTC) Whale Moves Over $ 250 Million Worth of Bitcoin (BTC)
A big Bitcoin (BTC) was recently spotted in the crypto verse. Bitcoin (BTC) worth over $ 250 million. Bitcoin address. A move of such magnitude could have a huge effect on the value of the digital currency.
Nevertheless, orders of this nature do not go through normal trading platforms. This would greatly disrupt the price of the coin in the market. Hence, they adopted another route in the movement of the fund.
Bitcoin (BTC) is yet to start a major bullish run. A lot of investors and traders are patiently waiting for the sharp recovery of the crypto market. However, no one knows how huge the next recovery would be and when it would be.
Here are some Bitcoin expert predictions about 2019:
Joel Kruger, currency strategist at the 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."
Kevin Murcko, CEO of CoinMetro
"Bitcoin still has the reputation of the market leader in 2019. Bitcoin still has the reputation and the liquidity that make it preferable to other Cryptos.
"It's difficult to put my finger on a price, however: Bitcoin's value will continue to be driven by a great deal of financial speculation.
We are very interested in this problem. The bubble may have burst in 2018, but there is still substance and potential in the crypto market at large.
"The dot-com bubble was a great example of this in action. What old school analyst saw tangible value in the internet? Amazon's stock dropped to a low of $ 6 when the bubble burst, and today, the company trades at $ 1,500 per share.
"The cryptos that survive this crash. Like Amazon and eBay, out of a collection of cryptos that fail, a small but significant minority will succeed. "
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. "
George Ermakov, Head of Research & Development at Crypterium
"Previous Cryptreium research identified at Bitcoin support area in the range between $ 3,000 to $ 5,000. At the moment, Bitcoin is actively trading in this range.
BAKKT ICE and NASDAQ futures, 2019 is expected to be positive for price dynamics.
"Technical analysis based on logarithmic scales can be achieved in 2019. Bitcoin is likely to reach a price of around $ 12,000, which is an excellent result and can be initiated to further growth in 2020. 2020 is close to another important date – the BTC 'halving'. "
Lessons for the cryptocurrency community:
It will be easier for the cryptocurrency to learn from these mistakes. Moreover, the exchanges will be able to learn from these mistakes which will ensure that the cryptocurrency community becomes much more secure.
It will remain in favor of Bitcoin, it will remain in value until the end of the year. Peaks for the cryptocurrencies. It will be able to be raised to $ 40,000 in the current calendar year or not. .
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 have 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.
Here are some old expectations for Bitcoin Future:
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)
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.
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