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Bitcoin is the first largest cryptocurrency. Since it reached its peak of $19,500, it has had a rough time since then. At the start of 2018, frenzy ended and everyone was looking forward to Bitcoin’s recovery. Inopportunely, it did not recover and things got worse. Currently, Bitcoin is at $4,000. Many experts have given their view on the current market of Bitcoin.

Future of Bitcoin in 2019: Predictions and Forecasts for Bitcoin Price

Statistics indicate that retail investors have lost most due to the decline of Bitcoin. This loss affected them both financially and emotionally. The fall from $19,500 to $4,000 has some serious psychological effect on a person. Boris Hristov, a Bitcoin and technology researcher, said that the only way for the Bitcoin to rise is if institutional investors enter the market. But the investors are not ready to take any financial risks related to cryptocurrency trading. On the other hand, Mike Novogratz, an economist, believes that there is going to be a big adaptation of Bitcoin in 2019 and 2020. He thinks there will be more involvement of people in the blockchain environment.

Market experts are making various predictions on Bitcoin. John McAfee, the founder of McAfee software, predicted that the Bitcoin will hit $1 million by 2020. Sonny Singh, the chief commercial officer at Bitpay, says that there are high chances of Bitcoin reaching $15,000-20,000 by the mid of 2019. He called Bitcoin as an 800-pound gorilla because it has access to most notable network effect of all decentralized networks. Another expert and head of research of Fundstrat, Tom Lee, predicts that the Bitcoin will grow as he thinks that more institutional investors will invest in the Bitcoin. He is quite an optimist that as the number of institutional investors will rise, the Bitcoin future will lead towards a positive side. Lee believes that it will hit $36,000 by the end of 2019. Ronnie Moas, a cryptocurrency analyst, forecasts that the Bitcoin will hit $28,000 in 2019. He states that as the supply of Bitcoin is decreasing, its demand will increase. Fran Strajnar being very optimistic says that the Bitcoin will hit $200,000 by the end of 2019. He says that the rate of adoption is directly proportional to the price increase. As the adoption rate will increase so will the value of Bitcoin. Moreover, Zhao Dong, one of the biggest Bitcoin traders in China, envisages that the Bitcoin will hit $50,000 by 2021. He suggests investors invest now in Bitcoin to get a yield of 100 to 200 % in the next three years.

Bitcoin has been going through recurrent fluctuations but it is believed by many experts that it will shoot up as per most of the predictions stated above. As the pros of Bitcoin overtook the cons, Bitcoin is still in the market ledger and many investors have their eyes on it. The more the trading, the more the price will rise. By the end of 2019, it is likely to reach $25,000.

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