RESEARCH & ANALYSIS
FOR THE CRYPTO ECONOMY.

Bitcoin Price Predictions For 2019 By Crypto Experts

Bitcoin Price Predictions For 2019 By Crypto Experts

The market of digital currencies has recently become one of the most attractive for investment, and special attention is given to Bitcoin, the cost of which exceeded all the hopes initially placed on it. However, are there any prospects for the growth of Bitcoin in 2019 and is it worth investing savings in it is an urgent question for many since the cryptocurrency market still maintains a high level of volatility.

The market of digital currencies has recently become one of the most attractive for investment, and special attention is given to Bitcoin, the cost of which exceeded all the hopes initially placed on it. However, are there any prospects for the growth of Bitcoin in 2019 and is it worth investing savings in it is an urgent question for many since the cryptocurrency market still maintains a high level of volatility.

Bitcoin as a means of payment – is it real?

Bitcoin is not without reason called the currency of the future, and many experts agree that it may soon become the primary means of calculation with confidence, but critics are confident that the functionality will not allow this.
Financial solvency is the main component of any successful currency and a significant argument in favor of its value. Even now, Bitcoin can pay for purchases and transactions on the Internet, which indicates that people are ready and willing to accept it as a payment. Another thing is that not many countries have developed a legislative system that could regulate this issue, and the full-fledged entry of Bitcoin into the economy depends on legislation.
In Japan, bitcoin was equal to a full-fledged currency, and calculations in it are available not only by agreement of the parties on the Internet but also in almost any store.
An additional factor that harms the introduction of Bitcoin into the calculations is the high rate volatility. However, this issue will exhaust itself over time. The Bitcoin rate should grow and linearly moderately grow. It is due to many factors:
Limited emissions;
The constant influx of new investors;
Increasing the complexity of mining and reducing the number of coins falling on the market.
The creator of Bitcoin, Satoshi Nakamoto, put into it an inflation prevention mechanism and implemented a system of fast and secure payments. This functionality is enough for Bitcoin to become the payment instrument of the future.

Forecast for crypto optimists

Cryptocurrency optimists often compare Bitcoin with real gold and even predict a value of $ 1 million for one coin. In their opinion, to determine the prospects for the development of Bitcoin, it suffices to recall the jump in the value of gold during the crisis in 2008, when, against the depreciation of national currencies, the price of gold rose sharply from $ 300 an ounce to almost $ 2000.

Such a comparison is not without reason, because in many ways gold and Bitcoin are similar, and even the amount of gold reserves on Earth is limited, as is bitcoin emission. And gold, after all, in fact, too, is not secured and is only a metal, which by agreement of states has value. It is the main difference between Bitcoin and gold, and as soon as Bitcoin receives the same degree of government regulation, there were safe assumptions that its value will increase significantly.
Of course, an adequate cost for it after settlement at the legislative level is a rate of approximately 60 thousand dollars, such an ascent is to be expected by 2024 and for 2019-2020, and one can only rely on a steady slight increase.

Bitcoin’s bleak prospects

For critics, Bitcoin is still a “bubble,” the cost of which goes through inflation in the wake of popularity and speculative actions. In the slang of financiers, the term “bubble” goes to assets whose value has no rational basis and, accordingly, may eventually collapse.
The main argument of critics is that Bitcoin is outside the legal framework and that governments will not legitimize cryptocurrency, and the lack of clear regulation and the risk that coins can be away with impunity will gradually reduce the level of trust in the currency and, accordingly, its value.
Thus, according to pessimistic forecasts in 2019-2020, the cost of bitcoin will be from $ 3,000 to $ 6,000 for military-technical cooperation, and there is no reason to expect any reasoned growth.

Expert opinion

According to one of the leading analysts of the cryptocurrency market and part-time co-founder of Fundstrat Global Advisors, Tom Lee, by 2020, Bitcoin can be expected to grow to 25 thousand dollars, and by 2022, its value may even reach 55 thousand per coin.
Petros Anagnostou, the founder of Crypto Solutions and the ICO Timeline information portal, gives an even more positive bitcoin forecast. According to Petros, by 2020 the coin will be traded at a mark from 50 to 100 thousand dollars.
Daniel Harrison is a blockchain consultant and editor of the Coinspeaker portal, who predicted bitcoin for $ 2,400 for 1 MTC for 2017 and his new forecast for 2020 is $ 30,000.
John McAfee, the founder of McAfee, which produces well-known anti-virus software, plans to keep its savings in Bitcoin, at least until 2020. He is confident that their profitability, in this case, will be at least 100% or even 2,400%. And in his opinion, by the time when the last MTC goes through mining, the value of the coin can reach millions of figures.
And the newest forecast for 2020, with a quarter-million-dollar rate, was voiced by Jameson Lopp, the founder of the Satoshi.Info information portal and the author of many cryptocurrency works. At the same time, in his forecast, Jameson relied on calculations of the schedule for changing the cost of Bitcoin, and the figure of $ 250 thousand was calculated taking into account the daily change in the price of Bitcoin throughout seven years.

Bitcoin and cryptocurrency issues

The cost of bitcoin and other cryptocurrencies is due to the supply and demand of the market. The limited problem and the gradual decrease in the inflow of new coins have a positive effect on the gradual increase in value, but an essential factor is the reputation of cryptocurrency and how much investors are willing to pay for it. In this case, several factors harm the prospect of Bitcoin:
High price. Bitcoin made a massive leap from a few cents to several thousand dollars for the military-technical cooperation. Many investors believe that it is too late to invest money in it, and a decrease in investment inflow will lead to the fact that the bubble will gradually begin to deflate.
Volatility Bitcoin is a very volatile asset. Due to this, many traders made it a convenient tool for earnings, but high volatility is the enemy of long-term investors.
Lack of collateral. The value of any money lies in who and how much is willing to exchange goods and services for them. Behind national currencies are state-owned banks and the international monetary fund, which guarantees that at any time, monetary units can go through an exchange for goods. Bitcoin does not have such security, so investing millions without guarantees that they can spend tomorrow, few are ready.
Stocks are a profitable, reliable investment since an investor can evaluate an enterprise and predict its profitability and its profit. With cryptocurrencies, there is no clear analysis of the market. No one knows precisely when the market starts to fever. Calculate how much you can earn or lose on this problematic. High risks do not allow many investors to enter the cryptocurrency market.
However, the main problem remains legislative confusion. Bitcoin owners are protected only by network consensus, which guarantees integrity, confidentiality and the impossibility of faking transactions and coins. At the same time, cryptocurrency investors are not under protection at the legislative level and the law in most countries, which means it opens up enormous opportunities for fraudulent schemes, does not yet stop cryptocurrency fraud.

What can affect the course of Bitcoin in 2019

Many factors influence the direction of Bitcoin. In 2019, it will primarily depend on several key points:
Some users. Bitcoin demand is one of the critical aspects of development. The number of active Bitcoin users is not too large now, and the creation of a clear legislative regulation can radically change this.
Competition. Cryptocurrency technologies are developing quite rapidly, and now Bitcoin has many strong competitors that can shift it from the top of the ranking. It is likely that if the competitors make a technological breakthrough, then the vector of investor attention can switch to another cryptocurrency.
Lack of attacks and failures. Bitcoin network is not perfect. Theoretically, there is the possibility of a so-called 51% attack, when intruders will capture most of the communication nodes. Naturally, you will see a reflection of any action of alike in the course.
World economy. Bitcoin is a decentralized currency, but its value also depends on the general economic situation in the world. If the global crisis comes, many investors will invest in cryptocurrency, in particular, in Bitcoin, as this is one of the ways to save savings from inflation, which naturally will have a positive impact on the cost.

Conclusion

Against the background of the rapidly dying out trust of people in financial structures and national currencies, many experts and traders agree that one can expect positive dynamics of the exchange rate and even a sharp jump from bitcoin. Do not forget that the network consensus is designed so that every year the value of the coin grows, by reducing the generation of new coins and reaching its peak value after the release of the last coin.

About the author

Melisa Marzett loves writing and doing it the right way. Articles she writes have a standard #1 goal: keeping it as engaging but straightforward as possible for readers to enjoy reading. Currently writing for FindWritingService she learns a lot of literature on meditation, practices yoga since recently and lives a healthy lifestyle.

Visit Top Exchanges

    • Performance 6
    • Team 8
    • Risk 2
    • Usability 9
    7.20
    • Performance 2
    • Team 10
    • Risk 3
    • Usability 6
    5.0
    • Performance 5
    • Team 10
    • Risk 1
    • Usability 10
    8.75
    • Performance 5
    • Team 10
    • Risk 1
    • Usability 10
    7.3
    • Performance 7
    • Team 10
    • Risk 3
    • Usability 8
    8.15