Bitcoin is the first cryptocurrency to ever be created. It all stated in 2009 with the idea that money needs to be decentralised and separated from the authorities. Afterwards, the original Bitcoin creator Satoshi Nakamoto released the source code which started the journey of the first decentralised cryptocurrency based on the blockchain. Since then, the price of Bitcoin was constantly changing – it brings us to today when the extreme volatility of this coin becomes a problem for some of the members of the BTC community. Sure, Bitcoin is still the most popular cryptocurrency out there – all the major exchanges and services support this coin, it is accepted as a payment method and pretty much everybody (including the media) is talking about the price fluctuations. With this in mind, ChangeNOW will talk about the currency Bitcoin price prediction for the end of 2018 and beginning of 2019 and try to predict some of the events and scenarios that are possible in the future. What price will Bitcoin reach in 2019? Will it stabilise and, most importantly, can the community expect a bull run?
Why is Bitcoin dropping?
The Bitcoin price has dropped 80% from the previous heights. The fall is mostly justified by the sell-off triggered by the long-lasting hash war around Bitcoin Cash hard fork on the 15th of November. Major coin holders (called “whales” in the crypto jargon) selling can trigger sudden sell-offs of a taken crypto, experts say. So, according to this information, the civil war is to blame in the Bitcoin, Ripple and Ethereum price decline (those are the currencies that suffered the most).
Bitcoin Price Prediction 2018
As we can see now, BTC price has changed drastically comparing to the beginning of 2018. The question bothering the long-term holders and potential buyers is “will Bitcoin rocket after the sharp decline in price or is there a place for another crypto crash”? Some financial analysts say “yes”, and claim that the current situation is the “growing pains” that happen as the market matures. According to them, the market is growing, more people (including merchants) are realising that cryptocurrencies are there to stay and have a great deal of potential to become a widely-used payment method. Sure, it is always good to have a positive outlook on the future. However, extreme Bitcoin volatility made it challenging for experts to predict short-term fluctuations in BTC prices – the opinions are indeed very diverse.
For instance, BitMEX CEO Arthur Hayes has changed his opinion on the possibility of Bitcoin rocketing and now claims that BTC could drop to $2.000. According to him, 2019 will be a year of a long bear market. So far, his newest prediction is coming to life with Bitcoin price plunging.
John McAfee does not agree – he says that BTC will hit the $1 million mark in 2020 (and made this infamous statement along with it).
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
Other influencers, such as Sam Doctor, Michael Novogratz and Ronnie Moas have more humble, yet still optimistic predictions in the range from $20.000 to $36.000.
To sum up the overview, ChangeNOW can say – consider the opinions of those in power, check the cryptocurrency market news, but make your trading decisions yourself. The cryptocurrency market is unstable and it is the way it is supposed to be. So, think twice and make smart decisions in your high-risk investments. (Of course, remember the number 1 rule of cryptocurrency trading – never invest what you cannot afford to lose!)
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