The major players or analysts in the Cryptocurrency market have given bullish outlook for Bitcoin price in 2019 & beyond. Lets have a look!
Michael Novogratz, who was former hedge fund chief and currently CEO of Galaxy Digital, expects that BTC is likely to break $10,000 by the end of the first quarter of 2019.
After this it might reach to sky-reaching heights as it reach well ahead of the all-time-high $20K mark. He considers the main rise in BTC price would be the entry of more of the institutional players in the crypto space
Bobby Lee, CEO of China’s first exchange, BTCC (Hong Kong-based Bitcoin exchange) and the brother of Charlie Lee, who is the Litecoin creator has given an extremely bullish prediction, however he is initially bearish about it.
He expects that Bitcoin price might reach to all-time low in January 2019, to a level below $2500 and then it will start moving up from late 2020 and could reach to the level of $333,000 in 2021 and then fall down to $41,000 in 2023.
If history repeats perfectly, then the current bear market for #Bitcoin would bottom out at $2,500 next month, in Jan 2019.
And then the next rally would start in late 2020, peak out in Dec 2021 at $333,000, and then crash back down to $41,000 in Jan 2023.
Something like that?🙂 https://t.co/M8ljIVnt73— Bobby Lee (@bobbyclee) December 7, 2018
John McAfee, who is the founder of the popular McAfee software and a strict Bitcoin follower expects that Bitcoin will reach to the level of $1 million by 2020 after his last year’s projection of $5000 which was well surpassed. He expects Bitcoin price to be about $1,70,000 on December 31, 2019.
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 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 dick if wrong. pic.twitter.com/WVx3E71nyD— John McAfee (@officialmcafee) November 29, 2017
Sonny Singh, who is the Chief Commercial Officer of Bitpay, which is the Bitcoin payment processing company, expects that Bitcoin will reach to the target price of $20,000 by the end of the year 2019. He further expects that after reaching to this level, Bitcoin will not fall below the level of $15000 anymore.
Moreover, he expects that the new bull run will be on the back of new product launches by the institutional companies like Fidelity, Bakkt, Square & Blackrock. As per him, new players & miners will emerge in the year 2019.
Anthony Pompliano, who is the founder of Morgan Creek Digital Assets, expects that Bitcoin will initially drop to the level of $3000 and then from Q3 2019, there will be a positive trend in the market. His projection is based on the historical trend.
Warren Buffett spent just over $1 Billion to buy 9.8 million shares of Apple in Q1 2016. Today that stake is worth ~$1.4 Billion.
If he had taken the money and bought Bitcoin instead, he would have $8.7 billion.
Maybe Mr. Buffett should start buying some rat poison 😉— Pomp 🌪 (@APompliano) January 3, 2019
The analysts are cautious of the first 2-3 quarters of 2019 but expect that 2019 will end in the positive note and will be better than 2018 with the entry of the more institutional players