Many leading economists, crypto enthusiasts, and thought leaders have expressed their opinion on whether we will see a Bitcoin price increase in 2019. We compiled some of the loudest and justified comments on the price of Bitcoin from 2019 to 2020. Some say Bitcoin will be $60,000, some that it could soar to such levels as $200,000.
They think Bitcoin will increase a lot this year. The Bank says that the Bitcoin price will rise above $60,000 in 2019! However, they also predict that the price of Bitcoin will first crash and lose more than 98% of its value!
“Bitcoin will continue to rise – and rise high – during most of 2019 but Russia and China will together engineer a crash,” Two Saxo Bank analysts say. They think it’ll crash because of new cryptocurrency regulations/laws from governments.
Mihail Lala, the founder, and CEO of Wawllet
He has a Bitcoin price prediction for 2020. Mihail thinks that Bitcoin will get to over $100,000 by 2020.
“The increase will not be proportional, as nowadays the ratio between Bitcoin, ETH and altcoins is not natural. By balancing the ratio, Bitcoin will lose a little bit of ground to ETH and altcoins, but will keep its lead on the market up to a cliff of 50,000 USD, which will be very fast pulled back, probably until the beginning of 2019. As more and more entities are building channels for regular customers, the late majority will enter the stage during the second half of 2019, which will push Bitcoin to 6 digits in 2020.”Mihail Lala
David Garrity, the CEO at GVA Research
In a Bloomberg interview, he told that Bitcoin is going to crash as low as $5,000 this year. To say nothing of his opinion, the Bitcoin price at the moment is lower than that resting at $3,417 at the time of writing. He got that wrong, but the fact that the price saw a correction was right.
However, he believes that by the end of 2019, it will increase. He says Bitcoin will get to almost $20,000, just like we saw at the end of 2017.
There are also eccentric people like John McAfee (the founder of McAfee Security). He predicts that the Bitcoin price will keep increasing this year. He also said it’ll be $500,000 by 2020. However, later he came out with a tweet saying that when he first predicted the price of BTC, he used a different model, which predicted a $5,000 Bitcoin in 2017. “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 d*ck if wrong,” he says in a tweet. That’s a harsh bet, but our prediction about McAfee’s prediction is that if Bitcoin doesn’t reach $1 million, of course, he will never eat his own genetelia. However, he will refer to the actual quote, where he has never stated that BiTcoin will reach the price of one million dollars, but instead, he said BiRcoin. That would be one way how he could get out of the harsh bet.
Sonny Singh, Chief Commercial Officer of Bitpay
Sonny Singh predicts Bitcoin at $20,000 by the end of 2019
Singh agrees with Novogratz that $20,000 is a reasonable price target for Bitcoin by the end of 2019. Interestingly enough, he predicts that BTC will climb to $20,000 and will never drop below $15,000 anymore after that.
He thinks that a new bull run will be because of the launch of products by institutional companies such as Fidelity, Bakkt, Square and BlackRock. In an interview with Bloomberg in November 2018, he said: “Next year will see new players and miners emerge in the industry. We will not see any rapid shift but by the end of Q1 or Q2, Bitcoin will emerge as a viable commodity.”
Anthony Pompliano, founder of Morgan Creek Digital Assets
His first prediction didn’t come through as he said that Bitcoin will hit $50,000 by the end of 2018. Of course, he needed to admit that his prediction was wrong. Pomp thinks we might see BTC drop to $3000 first, and says it might take until Q3 of 2019 before we see a positive trend again in the market. While this is playing out right, some believe that Bitcoin might drop even lower that that.
In a blog post, Pompliano states: “Bear markets continue to last longer — each bear market is measured from peak to trough during a prolonged drawdown period. The first bear market lasted ~160 days (2011) and the second bear market lasted ~400 days (2013-2014). The current bear market, if it follows the historical trend, is likely to continue for 650 days. If this comes to fruition, the crypto markets won’t begin recovering from the recent negative price movements until Q3 of 2019.”
Sam Doctor from Fundstrat
In 2018, two analysts from Fundstrat predicted Bitcoin to reach $36,000 by the end of 2019. They based the opinion on the growth of the mining infrastructure. Sam Doctor, Quant Strategist at Fundstrat, said that based on expected computing hash-power and breakeven cost growth of miners, Bitcoin could hit $36,000 by the end of 2019, with an upper end of $64,000 and a lower end of $20,000.
Ronnie Moas is a cryptocurrency analyst and he predicted that Bitcoin will reach $28,000 in 2019. According to Moas, ‘institutions & the top 1% are buying as they did in the 2008 stock market crash’. In September 2018, he warned smaller investors that ‘you caught the move from $600 to $6,000… You will miss the move from $6000 to $60,000’.
Moas added that it is “sad to watch the top 1% scare the crap out of you, separating you from your BTC”. The increasing demand for and the decreasing supply of Bitcoin will cause the price of BTC to rise in 2019.
Fran Strajnar, CEO of Brave New Coin
Strajnar also expects an increase in the price of Bitcoin. He predicts it to hit $200,000 until January 1, 2020. In an interview with Inverse in 2018, he stated that “the adoption rates are continuing to be quite steady, and adoption rates heavily correlate to the price, so therefore, unless for some reason people just simply stop continuing to adopt Bitcoin, we should see $200,000 per Bitcoin by 1st January 2020 at the latest.”
Photo by André François McKenzie on Unsplash