4 Bitcoin Price Predictions for 2019
Although Bitcoin has been around for a decade, the world first found out about it during 2017’s crazy bull run. Bitcoin went from $900 at the start of the year to around $20,000 before normalizing around the $4,000 mark by Q1 2019.
The question is, where will Bitcoin prices go next? 2018 mostly saw the crypto space develop and consolidate. It’s a little hard to tell what’s going to happen — so to help you get some answers, this article will cover 4 experts’ predictions on Bitcoin prices for 2019.
First on our list is…
1. Michael Novogratz — $10,000 in the first half of 2019
At the Finance Disrupted event, Galaxy Digital’s Michael Novogratz said that given all the information on hand, Bitcoin wouldn’t surpass $9,000 for 2018. He proved to be right.
The second part of Novogratz’s prediction was that Bitcoin would break through the $10,000 price point in early 2019. Moreover, the finance expert believes that BTC could surpass its previous record — $20,000 — by the end of the year.
This prediction is on the conservative side compared to the ones below. However, given that half of it has already come true, it’s also credible at face value.
2. John McAfee — $1,000,000 by 2020
John McAfee is the genius mind behind McAfee antivirus: a well-known cyber security program. He’s also a crypto enthusiast who believes that the price of a single BTC coin will skyrocket to $1 million by 2020.
McAfee’s predictions are based on mathematics. He believes that based on Bitcoin’s usage and adoption patterns, the asset’s market value is currently far below its true value — and expects a strong rebound to happen soon.
McAfee is so confident about his prediction that he has wagered a body part on it. If his prediction fails to come true, he will, apparently, eat one of his own appendages.
3. Sonny Singh — $15,000-$20,000
Sonny Singh used to be Oracle’s senior vice president, so it’s fair to say he understands technology first-hand.
Singh’s prediction is a lot more conservative than McAfee’s. He believes that BTC will go back to the $15,000-$20,000 price level by Q4 2019, which is more in line with Novogratz’s prediction.
The reason for Singh’s optimism is the emergence of crypto ETFs and more funding for start-ups. Only time will tell if he’s right — but it’s certainly interesting to see two similar predictions for Q4 2019 prices.
4. Tom Lee and Sam Doctor — $20,000+ by 2020
Tom Lee is JP Morgan’s ex-Chief Equity Strategist. He’s also the co-founder of a company called Fundstrat. Together with another Fundstrat employee — Sam Doctor — Tom Lee has predicted that Bitcoin prices will stand somewhere between $20,000 and $64,000 by 2020.
While the exact logic of this specific prediction is a little more difficult to grasp, given how advanced Fundstrat’s analytical tools are, both men are trusted experts on finance.
Moreover, this margin’s lower end ($20,000) is in line with predictions 1 and 3, which could be another reason for optimism.
At the end of the day, it doesn’t matter how skilled an expert is. When it comes to Bitcoin prices, even the world’s best traders have been stumped again and again.
Having said that, it can be helpful to know what some of the world’s most successful crypto traders and investors think.
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