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Bitcoin Price Prospects for 2019

1 August 2019, 07:56
Votes: 1

Being aware of the Bitcoin price forecast for 2019, you will be able to make proper investments and get the maximum profits from them. Let’s consider what the experts say and what issues concerning cryptocurrency market investments need further attention.

Bitcoin Price Prospects for 2019

In December 2017, the Bitcoin price exceeded $20,000, which led to increased interest in the cryptocurrency from those who had never thought of investing in it. Experts predicted a bright future for digital money. There were many positive forecasts regarding the Bitcoin prospects for 2018, which guaranteed future BTC price growth, increased interest in mining, and possible cryptoassets recognition in some countries.

However, in early 2018, an unforeseen event occurred: the price, contrary to expectations, dropped dramatically. At the end of winter, the BTC value fell below $7,000. Even though the price bounced insignificantly, the bearish trend  scared off both current and potential investors. The middle of summer was marked by the stable Bitcoin rate that eventually established a bullish trend in the market by the end of July.

Such volatility makes it difficult to forecast Bitcoin value for 2019. Investors who have a poor understanding of the market fluctuations are trying to figure out what to do: whether to buy the first cryptocurrency now, while the price remains low, or sell it as soon as BTC experiences a temporary price hike.

What Can Affect the Bitcoin Price in 2019?

In order to receive the experts’ opinion on this subject, several cryptanalysts’ forecasts have been reviewed.

Six of the 16 experts directly associate positive expectations with the upcoming launch of Bitcoin-ETF (exchange-traded fund). It will use the first cryptocurrency as the main asset, namely, by purchasing Bitcoins and then selling its shares to investors.

This event is expected to attract such major investors as investment and pension funds. They are currently planning to invest in assets that are part of this regulated sphere.

What Can Affect the Bitcoin Price in 2019?

Bitcoin Prospects Forecasts for 2019. Industry Experts’ Opinion

Gavriel Shaw, CMO at Bitcoin.com

“I consider myself a hobby trader and a market psychologist, so I think that the Bitcoin price will rise by January due to market shocks and price chart predictions. A breakthrough seems inevitable, and it is going to be a very strong growth. By the early 2019, BTC can reach $10,500, BCH – $1,500."

Alexander V. van Dijl, Financial Expert

“At the beginning of 2018, I made predictions concerning the Bitcoin value which I thought was going to reach $150,000. Although today it seems unlikely, I believe that some stable price movements will occur in the near future. Something big is going to happen: perhaps a large retailer will start accepting Bitcoin payments. Something big is going to happen, and it will cause price increase.”

Ronald Shi, Senior Trader/Analyst at Virtuse Exchange

“Bitcoin is often referred to as “digital gold”, and we may find similarities between them. Its volatility and price behavior today are similar to the situation on the gold market in the 1980s. In our opinion, the Bitcoin value is in a late bearish phase, and if the Bitcoin-ETF is launched, the trend will reverse and return to the range from $10,000 to $12,000.”

Luke Lombe, Head of Blockchain Department at PlayChip

Luke Lombe, Head of Blockchain Department at PlayChip

“Throughout 2018, we were witnessing a strong bearish trend. Institutional money have been accumulating during the lows, and I believe some positive changes in the ETF are going to happen within the next 6-9 months. If we can overcome this bearish trend, and Bitcoin reaches $8,500, in 2019 the price may rise to $12,600."

Sam Russell, Co-Founder/EVP Strategy and Innovation at WORBLI

“Bitcoin and cryptomarket in general go through clear bullish trends, followed by bearish sentiment. Vitalik Buterin, the co-founder of Ethereum, tweeted on July 31 of the last year that we are at the very end of this crypto-bubble. Bitcoin will soon begin to rise gradually.”

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