Bitcoin Exchange Rate Forecast for 2019
The sharp correction of the second half of 2018 with a drastic depreciation was even more unexpected than the recent fantastic growth of the most famous Bitcoin cryptocoin.
In this article we will look at various predictions for Bitcoin rate for 2019, on which the price of BTC generally depends, and also what experts think about its future.
The majority of specialists consider the protracted decline to be a natural phenomenon, they believe in the imminent revival of the market and the growth of BTC to $100 thousand or even more. Supporting their opinion, they cite the following factors that in the future will positively influence BTC rate:
- the integration of cryptocurrencies in the global economy and the expansion of its use areas;
- legalization and regulation of the cryptocurrency market by the governments of different countries of the world;
- the development of technologies aimed at improving the security of cryptocurrencies keeping.
Let us provide the forecasts of several analysts who predict the stabilization and growth of BTC rate in 2019 after the hard 2018. Here are just a few examples:
- Experts of Fundstrat analytical agency conducted their own research and published a very bold forecast for bitcoin rate based mostly on the latest mining trends: $64 thousand by the end of 2019. Experts claim that the increasing cost of the mining of block contributes to the reduction of volatility and the growth of the price of BTC. At a low rate, Fundstrat’s analysts say, commissions in the Bitcoin network will not cover the costs of processing payment transactions. Hence, the network will not be able to function. At the same time, the remuneration paid for the confirmation of a block guarantees the profitability of mining and an increase in the rate.
- Hey-Hep, the popular host of Cryptotrader TV show and one of the early investors in BTC, also gives an optimistic forecast for Bitcoin in 2019: $50 thousand. He says that people shouldn’t be afraid of correction periods, considering them to be the confirmation of the flexibility of Bitcoin as a financial instrument and its potential for significant growth in the future. Hey-Hep is sure that the next rally will begin as early as at the end of 2018, when many new investors will enter the market.
- One of the boldest predictions for Bitcoin rate 2019 is given by Masterluc, a well-known in the community investor and trader: $110 thousand. He assures that the main cryptocurrency is still undervalued and predicts a reversal to the “bulls” in the first months of the next year. Let us note that Masterluc’s previous forecasts turned out to be accurate. In 2013 he predicted the achievement by BTC of $1,100 mark and a two-year correction period, and in 2015 he predicted a sharp jump in 2017.
- Saxo Bank’s analysts Pouncy and Petersen also presented their forecast for Bitcoin for 2019: $60 thousand. They believe that the growth will last until December, and at the beginning of 2020 there will be a collapse similar to 2018.
These were numbers, and now let us describe some of the trends that experts predict for 2019:
- institutional investors’ increasing interest to Bitcoin and the influx of large capitals;
- further development of the mining infrastructure;
- expanding areas of BTC application;
- steady bullish trend for most of the year.
Against the background of the recurring global crises and the rapid fall of trust to governmental financial institutions, Bitcoin and other digital assets are growing in popularity. People have realized that national currencies have not been secured with gold, oil or other declared resources for a long time, and the printing presses are turned on any minute the authorities need it. At the same time, the issue of Bitcoin is strictly limited to 21 million, which excludes inflation.
Despite the current precarious position of BTC, most analysts do not lose optimism about its future and predict a significant appreciation in 2019 (according to various estimates, from $20,000 to $100,000 or even more).
