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Bitcoin Price Prediction: Experts Expect 84% Increase for 2019 — Could They be Right?

  • Darryn Pollock
    🤷 Opinions

    Bitcoin has seemingly reached its bottom in the mid $3,500 range, so a host of experts are now predicting its price will almost double in 2019


Bitcoin Price Prediction: Experts Expect 84% Increase for 2019 — Could They be Right?
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Bitcoin has now been a part of its longest bear market ever and seems to have reached its bottom. For this reason, a host of experts are predicting that 2019 will be a year where the cryptocurrency increases in price by as much as 84 percent.

While 84 percent would be a good increase over a year for any stock or asset, it is a relatively small growth spurt for the classical volatile digital asset. Bitcoin has been known to increase 1,000 fold in a similar space of time.


However, an 84 percent increase would see the price fall just short of the $7,000 mark which would be a welcome growth pattern over the remaining 11 months in the year. The change in the market atmosphere is now much more conducive to slow and steady growth.

But, as things stand at the moment, even a 20 percent growth spurt feels unobtainable, so could the experts, who have been polled on their thoughts, be right about this prediction?

Reasons for some growth

Digital Capital Management CEO Ben Ritchie was one of the more bullish predictors of those polled. He tipped a year-end price of $9,500. The average price prediction was just under $7,000.

“Two things to look out for in 2019 will be whether we will see decoupling of the cryptocurrencies, as to date they have trended in a relatively similar manner,” Ritchie said, forecasting a “slow and steady rise in 2019”.

“The second is the impact of the traditional markets on cryptocurrencies. Will Bitcoin rise if the S&P drops? On-ramp and off-ramps to purchasing cryptocurrencies will improve in 2019 with Bakkt and Fidelity Group entering the market. However, I do not believe we will see many institutional investors enter for some time yet.”

Another consideration of the experts who were asked their opinion was the new emerging group of investors, the millennials.

“Millennials are particularly open to embracing crypto in order to accumulate wealth for themselves,” said HiveEx.com co-founder Fred Schebesta. “They’ve grown up with digital technology, so it’s little wonder they want to get involved in digital currency. They are looking at investing very differently to their parents.”

A new dawn

The factors mentioned by some of the experts polled make clear sense as to why Bitcoin can indeed rise and become a solid and dependable asset. The speculative growth that was categorised by the coin rising up to $20,000 in a matter of months was not healthy for the market.

For Bitcoin to reach $7,000 in 11 months is solid growth, and growth that will not be compromised. It is the kind of growth that is also not out of the reach of the burgeoning asset.

Blockchain adoption is continuing despite the bear market, and there is an undercurrent of cryptocurrency education going on that is making people more savvy, rather than speculative, about buying into things like Bitcoin.

Cover image via u.today
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Blockchain Adoption Uncovered by Forbes as Billion Dollar Companies Buy In to Drive Technology

  • Darryn Pollock
    🤷 Opinions

    Blockchain adoption by billion dollar companies is probably a lot further along than expected as Forbes has revealed


Blockchain Adoption Uncovered by Forbes as Billion Dollar Companies Buy In to Drive Technology
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Forbes has recently released a list of 50 companies utilizing blockchain technology that are valued at over a billion dollars, these companies include the likes of Amazon, Microsoft, IBM, as well as less technical ones such as BP and Walmart.

What is surprising about the list is just how broad the scope of interest is when it comes to blockchain by these massive global companies. The adoption of blockchain, over the last 10 years, has been relatively slow, up until now.


But, in 2019, it seems that the future of technology has been laid out and to get a competitive edge these companies realise that there is a lot that can be done with blockchain and that they need to get their foot in the door.

Heavy hitters

While the Forbes list paints a grand picture of blockchain adoption, it also shows just how far along in the process some of these companies are. For companies to have made it onto the list, they have to have been using blockchain in some sort of effective and tangible way.

There are some, like insurance giant MetLife, which already has a working blockchain, and product, that has been going since 2014. Back then, the adoption of blockchain by major companies was not even heard of – it was more about the starting boom of Bitcoin.

But blockchain is the new leader in the space, taking over the batton from cryptocurrencies which certainly helped raise the profile of the entire ecosystem. If it was not for the cryptocurrency boom, a lot of these major companies would never even have stumbled across the underlying technology.

A drive for blockchain

Now, with the cryptocurrency market right back down again, and a lot of the speculation having been cleared out, there has been a whole year of rather focusing in on blockchain building and its application, instead of making money off speculative tokens.

That change in mindset has really helped major corporations take on the technology and begin experimenting with its efficiency and disruptive powers. There is almost an arms race going on as the advantages the technology can give across a huge spectrum of enterprises, which are massive and very coveted.

A need for enterprise investment

There still remains a debate as to whether blockchain, and crypto, with its decentralised nature, is in need of these major corporations coming in to monopolise the space which was born out of defiance of banks.

However, it would be foolish to think that blockchain can reach its full potential without a drive from big companies with big budgets. Smaller startups and companies are able to bring innovation and excitement to the space, but the mass adoption will only come when the heavy hitters are involved.

Cover image via 123rf.com
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