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Bitcoin Price Prediction for 2019: Will BTC Price Get Back to $20,000?

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U.Today takes its crystal ball to come up with the most accurate Bitcoin price forecast for 2019. Read Bitcoin price predictions for 2019 from top industry experts
Bitcoin Price Prediction for 2019: Will BTC Price Get Back to $20,000?
Contents

As the New Year’s ball is about to drop, Bitcoin enthusiasts will have one wish – a major bull run. In this article, we are delving into the top 2019 Bitcoin price predictions.

Prepare for a January slump

It doesn’t take a seasoned technical analyst or a crystal ball to determine what to expect from Bitcoin this January. Historically, every single year starts with a bloodbath for the world’s biggest cryptocurrency. The media coverage of Bitcoin peaked in early 2017 when the much-hyped digital currency suddenly dropped by - 47%. However, that wasn’t even the biggest January drop that BTC has experienced over the past five years.

Year  

January drop

2014

-23.5 percent

2015

-48.5 percent

2016

-23.5 percent

2017

-36.5 percent

2018

-47 percent

Another instance of Bitcoin’s seasonality pertains to Chinese New Year (or Lunar New Year). In fact, Bitcoin has followed the same pattern for the past three years, setting new lows that were immediately followed by price upticks. 

Source: Shutterstock

Expert predictions for 2019: Bitcoin bulls

Fran Strajnar: $200,000 by Jan. 1, 2020  
How high Bitcoin will go? We are starting with an uber-bullish prediction made by the CEO of Brave New Coin who made an outlandish forecast, claiming that Bitcoin could reach $200,000 by the start of 2020. A constantly growing Bitcoin adoption will be the main driving force behind the price of the currency.

Ronnie Moas: $28,000
During the World Crypto Con, Ronnie Moas shared his forecast for the end of 2019: $28,000. He further explained that the 2018 price slump was merely a bump in the road due to the fact that many investors went on a sell-off spree. Moas also encouraged hodlsters not to lose faith in the currency.   

Mike Kayamori: a brand-new new ATH in 2019
Mike Kayamori, the CEO of major Japanese exchange Quoine, predicts that Bitcoin could repeak in 2019 given that ‘the bottom is near.’ Japan’s Financial Services Agency (FSA) is actively cooperating with the cryptocurrency industry, which gives ground for Kayamori’s bullish forecast.  
 
Sonny Singh: $20,000 by the end of 2019
Bitpay’s Sonny Singh has come up with one of the most bullish forecasts as he thinks that Bitcoin will climb to $20,000 next year, thus matching its current ATH. Bakkt launching Bitcoin futures in January is among the main reasons why this target is not far-fetched.  

Andy Cheung: $20,000
Andy Cheung is yet another industry expert who believes that Bitcoin could match its current ATH of $20,000 the following year. Cheung calls it a ‘conservative’ future value prediction of Bitcoin. Moreover, he believes that Ethereum, one of the biggest losers of 2018, will shine even brighter after the upcoming hard fork.  

Notably, Kevin Murcko, CEO of CoinMetro, has also recently shared his $20,000 prediction if Bitcoin ETFs are eventually approved by the SEC.

Mitch Blakeway: $12,000
Just like Singh, Mitch Blakeway of Quantatex sees the launch of Bitcoin futures by Bakkt and NASDAQ will be the main catalyst for Bitcoin’s growth in 2019. With that being said, the price of Bitcoin could go up to $12,000, and crypto evangelists can expect it to grow even further in 2020 when the next Bitcoin halving occurs.  

Mike Novogratz: $10,000 in Q1 2019
In September, Mike Novogratz, the huge Bitcoin proponent from Wall Street, claimed that the coin would be able to crack $10,000 in Q1 2019 because of an influx of institutional money. Once there are more custodian solutions, Bitcoin will be eventually viewed as a store of value.  

Notably, Novogratz was ridiculed because of constantly trimming his short-term predictions for 2018 but he still believes that BTC could even reach $20,000.   

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Entering the bearish territory

Anthony Pompliano: $3,000 in Q3
It is quite strange to hear a disheartening price prediction from the permabull Anthony Pompliano. The head of Morgan Creek Digital Assets believes that the cryptocurrency market will remain in the doldrums until Q3 2019 with Bitcoin potentially finding the bottom below the $3,000 level. After that, the sky's the limit for Bitcoin – Pomp predicts that it could eventually breach the $50,000 mark in the nearest future.    

Bobby Lee: $2500 in Q1 2019
Bobby Lee, the brother of Fundstrat’s Tom Lee, who also happens to be the founder of China’s first exchange, BTCC, is certain that Bitcoin could bottom out as early as in Q1 2019 with its price tanking below the $2,500 level.

Arthur Hayes: bears will remain supreme in 2019
BitMEX CEO Arthur Hayes, who earlier thought that Bitcoin would be able to surpass the $50,000 mark this year, has recently done a U-turn. Now, Hayes doesn’t see Bitcoin recovering from the current predicament in 2019 with the BTC price falling below $2,000.

Peter Brandt: $1,200
Technical trading vet Peter Brandt also doesn’t see Bitcoin recovering in 2019 – his prediction stands at $1,200 if the price of Bitcoin drops below the psychologically important $3,000 mark (the flagship cryptocurrency was already on the cusp of doing this year).

At the same time, the possibility of Bitcoin skyrocketing above its current peak is also on the table, Brandt states. He emphasizes that he doesn’t want to be perceived as a Bitcoin hater.

Notably, Brandt accurately called the 80 drop in Bitcoin price back in January. If the price does drop to the level of $1,200, he is certain that even most ardent crypto enthusiasts will consider jumping ship.

Is Bitcoin going to $0? Join the Bitcoin hater party

Calvin Ayre, the founder of Bitcoin Cash, is on the same wavelength with ‘Bitcoin Jesus’ Roger Ver, claiming that BCH will make its older brother completely irrelevant. Recently, Ayre voiced his bold prediction that the Bitcoin price will plunge to $0 in 2019 due to its low scalability. At the same time, he doesn’t think that the BSV fork participated in November’s market crash.

Shutterstock

Ironically, Erik Finman, teenager millionaire who made over $4 mln during Bitcoin’s peak, is also turning his back on Bitcoin, claiming that the top currency will be eventually replaced by Bitcoin Cash (BCH). Finman says that tons of infighting ‘killed’ Bitcoin.

Speaking of doomsayers, one should also mention the notorious Bitcoin critic Nouriel Roubini who’s certain that Bitcoin will be worth null ‘in due time’. American stock broker Peter Shiff, who is particularly famous for predicting the housing market crash, is also certain that Bitcoin could tank to zero. Moreover, he recently shredded CNBC anchor Brian Kelly for shorting Bitcoin after his endless shilling.

What can push Bitcoin price in 2019?

  1. A spike in real-life adoption. Binance CEO Changpeng Zhao (CZ) admits that this year was a ‘tough’ year for Bitcoin but he expects more real applications of Bitcoin in 2018. However, that could change in 2019 and eventually push the BTC price much higher. The adoption of xRapid by global banks is also expected to have a knock-on effect for Bitcoin.            

  2. Institutional investors coming on board. A lot of experts are in agreement with Mike Novogratz – 2019 will be the year of institutional money. The launch of Bakkt’s Bitcoin futures is, of course, one of the most anticipated events of early 2019 given that the launch of Bitcoin futures by CME, the largest futures exchange in the world, was one of the reasons behind the unprecedented spike. The baby steps of Fidelity, Yale, and other big-name players were already a precursor to what will happen next year.

  3. The US SEC giving green light to a Bitcoin ETF. One should bear in mind that the SEC postponed its decision on the much-anticipated Bitcoin ETF. The final decision is expected not earlier than in  February 2019, clarifying its so-far ‘rocky’ relationships with Bitcoin ETFs.

  4. Regaining dominance. Many smaller altcoins are crashing, and it’s a good opportunity for Bitcoin to regain its dominance (which is currently sitting at 53.1%). Bitcoin is shedding billions but the whole crypto market is in an even worse position with 70 percent of all ICOs failing to surpass their initial valuation. Global management consulting company A.T. Kearney predicts that Bitcoin will be controlling 2/3 of the whole cryptocurrency market.     

  5. Regulatory clarity. While the US remains the main market for Bitcoin, the country’s lawmakers have yet to bring more clarity to the table, which prevents large institutions from fully diving into crypto. 2018 was the year of a heated congressional hearing and the first crypto bills. Will there be a major shift in 2019?   

Bitcoin price predictions: then and now

The definition of a bullish Bitcoin price prediction has definitely changed since the historic bull run of 2017. In 2016, a $2,200 forecast for 2018 was considered to be ‘nice and bullish’ but any experts who would dare to voice these numbers today would automatically join the bear club.

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In all fairness, not everyone was super-rational about a Bitcoin price prediction even in the pre-ATH era. For instance, a Coindesk poll found out that 56 percent of Bitcoin enthusiasts were certain that Bitcoin would reach $10,000. Of course, Bitcoin naysayers were quick in I-told-you-so-ing but little did they know about what would happen to Bitcoin in just two years. The only difference is that this prediction was borderline crazy in 2014 while anything below the Bitcoin’s current ATH won’t even pass for bullish anymore.  

Getty Images

In 2013, the Winklevoss brothers also made a bold prediction that Bitcoin would be able to reach a whopping $40,000 but they didn’t specify the exact date. There have also been predictions that Bitcoin could even hit $1 mln. On the flip side, there have been numerous occasions when the price was predicted to plunge to zero. Actually, Bitcoin pessimists have already done that for more than 317 times but somehow the king of crypto always stays there. For instance, this infamous article was published in 2011 (!).  

Just to stay on the safe side, one can predict that the Bitcoin price could skyrocket to $1 mln or tank to $0.   

Time traveler from the future: Bitcoin will hit 100,000 in 2019

Now that we’ve covered the past predictions for Bitcoin, let’s get a bit desperate and recall the viral time traveling post on r/Bitcoin that was published in 2013. A random Reddit user claimed that he was typing his predictions straight from 2025. His price forecasts for 2015 and 2017 turned out to be more accurate than those of the CNBC experts (sorry, Tom Lee). The time traveler believes that Bitcoin will be able to breach the $100,000 milestone in 2019, making it the most bullish prediction on our list sans Fran Strajnar.

fool.com.au

Is it even worth making Bitcoin price predictions?

On Dec. 13, crypto bull Tom Lee said that he won’t make any Bitcoin-related forecasts. The Fundstrat CEO explains that the reason behind this decision is the inherent volatility of Bitcoin. Earlier, Lee predicted that the world’s largest crypto would reach $25,000 by the end of 2018. U.Today also recollects the most embarrassing Bitcoin price predictions of 2018:

Bitcoin price predictions

He later changed his prediction to $15,000 when Bitcoin entered the death spiral, but this figure is still a far cry from where Bitcoin stands today – $3,886 at press time.

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While it may seem like Lee is throwing a temper tantrum, we cannot blame him – Bitcoin has a penchant for wild price fluctuations. Furthermore, the nascence of the crypto industry makes it very sensitive to the current news cycle (for instance, the announcement about Winklevoss' ETF rejection instantly made it to mainstream news outlets and tanked the Bitcoin price).

However, bad (and frankly random price predictions) extend across the whole asset class. Gold, for instance, is only valued at $1,200, while many industry experts in the likes of Peter Schiff predicted that one ounce would be worth $5,000. 2018 also had many surprises for the stock market, with most analysts predicting that the S&P 500 would end up at 3,000 by the end of this year (at press time, it is standing at 2,416).

Bitcoin will hit 100,000 in 2019

Since most of these predictions do not translate into reality, the real question is why these forecasters even bother.

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Bearish Ripple Chart Analysis Pointing Towards Short Term Price Losses: Is It Time to Sell XRP?

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After a week or so of good price growth, Ripple looks as if it could be in for a short bear run, so maybe it's time to take profit
Bearish Ripple Chart Analysis Pointing Towards Short Term Price Losses: Is It Time to Sell XRP?

A look over the charts for XRP shows some good growth since last week. However, there has been a bit of a flattening out, and even an inability to hold key support levels. This is key in trying to predict the next steps of XRP’s price, and technical analysis suggests that a small bear run could be imminent.

Ripple’s price failed to stay above the $0.3250 and $0.3200 support levels and declined against the US dollar. The price also failed to hold gains and declined recently against Bitcoin. XRP/USD could slide towards the $0.3050 support before starting a fresh upward move.

Because of these predictions, it might be time for some smart trading, selling some tokens for profit taking before looking for the bottom again and buying back in.

A look at the charts

Over the last five days, XRP peaked at $0.354 on Wednesday before correcting down and rebounding to $0.352; however, it has since fallen back to $0.342. There was some fight back from the XRP token to try and pick up those gains again over the last few days, but overall it has fallen twice, unable to maintain those support numbers.

Bearish Ripple Chart Analysis Pointing Towards Short Term Price Losses: Is It Time to Sell XRP?

After a period of trading relatively flat, and with indications showing it is struggling to hold its gains, the prediction would be that the price of the coin will face bearish tendencies in the short term.

More small drops can be expected, with undulating rises that fail to stick. It is not gloom and doom for the cryptocurrency, rather a period of correction after a good rise that set off the market growth earlier in the week.

For investors or traders, this is actually good news given that if the prediction is correct, there will be a chance for profit taking as people sell off tokens after the bull run, only to ride out the bearish run in order to buy back.

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Litecoin Price Forecast 2019: Set Sail to Break the $50 Iceberg and Swim as Far as $230

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Litecoin price forecast 2019: The coin has the chance to reach the value of $230. What are the factors contributing to LTC growth?
Litecoin Price Forecast 2019: Set Sail to Break the $50 Iceberg and Swim as Far as $230
Contents

Following Bitcoin’s path, Litecoin seems to be on the rise: it’s becoming quite popular among investors and is slowly gaining in price. There’s a very high probability that it will trade higher than $30 all year long, but what about its highest points?

Litecoin Price Forecast 2019: Set Sail to Break the $50 Iceberg and Swim as Far as $230

Focus on numbers: Litecoin’s future in 2019

Although the bearish period seems to be over, the crypto market is still highly volatile. That’s why making any short-term predictions is quite hard. However, it doesn’t discourage analytical websites and people from making their own forecasts.

Thus, according to publications on various crypto websites, Litecoin has enough potential to reach the $1,000 edge. Some articles mention the number $2,000 – it seems to be far from reality. What are these suggestions based on? It’s not clear.

However, these forecasts are on par with predictions from some experts. For example, George Tung, a cryptocurrency analyst, claims that Litecoin will reach $1,500 towards the end of 2019. Brian Kelly, the head of BK Capital Management (LLC), is sure we might witness an LTC price of $500 or even $600 by the end of this year. Though conservative, this approach seems to be close to reality.

In November 2017, Litecoin was traded at $100 and investors managed to enjoy 25x ROI. If the market is hit by the bullish wave again, the scenario can repeat: LTC might jump from its current $48 to $1,200. But what if that won’t happen?

Our guess is that Litecoin can reach the range of $150-$230 by the end of 2019. How can it crawl to such numbers? First, in August 2019, the block reward for miners will be cut by 50%, which might provoke the growth of demand for LTC.

What will kick-start Litecoin growth?

Here’s the whole gamut of factors that can make Litecoin soar separately or altogether:

  • The rate of accepting Litecoin on exchanges and online websites will gradually increase. One of the adoption examples is the Surf Air store that started accepting LTC payments.

  • Of course, Litecoin’s growth is partially defined by Bitcoin’s performance. At the moment, BTC is on the rise. However, Litecoin seems to recover from the bearish period much faster and better.

  • At the same time, while Bitcoin’s gaining in traffic, users start complaining about growing transaction fees and slow performance. That’s when their attention switches to Litecoin, with its lower commissions and better speed.

  • A big influx of traffic on Coinbase is expected – it backs three major crypto assets, including LTC.

Thus, Litecoin is getting more and more media attention, which only contributes to its growth. Some Internet users are sure that it has to reach the $50 mark to get back on track and start gaining in value. This event is definitely around the corner!

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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EOS Price Expected to Keep Rising After Doubling in Value Since December Lows

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EOS is one coin that has shrugged off its lows to double in value since December, with more growth expected
EOS Price Expected to Keep Rising After Doubling in Value Since December Lows

In the current climate, there is optimism returning to the market with Bitcoin pushing the $4,000 mark. However, a lot of this positivity has come from an altcoin rush of late. Coins such as Tron, Ethereum, Ripple and Stellar have played their part in boosting the market, but one particular coin has been striving since its lows in December last year.

EOS, a cryptocurrency that is currently ranked fourth by market cap, has quietly been going about its business, growing not only in price but also value as a blockchain company. It is showing some medium to long term bullish tendencies, outperforming many others.

The coin reached a low of $1.54 on December 7th, 2018, but at the moment, it is heading beyond the $4 mark, having doubled in value since that late last year low. It currently sits at $3.38.

Many are expecting the coin to keep growing, with its highest point touching $4.05. This move represents a 161% gain in only 74 trading days. If the bullish tendencies can continue across the markets, there is no doubt that EOS will cash in.

EOS Charts

More to come

EOS is seen as a rival to Ethereum, and because its intention is to improve upon the original smart contract blockchain, it will feel it has an edge in terms of adoption in the coming months.

It is a double-edged sword, as added adoption of the blockchain platform will help increase its reputation, which in turn will boost its price. Then, because EOS’ price is already starting to grow substantially, it will bring the platform to the fore for future blockchain applications.

If EOS can continue to offer a good blockchain service and the market keeps positive, there is every reason to believe that the coin’s price will continue to grow — and also outperform many of its rivals and other altcoins.

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Ripple XRP Price Prediction: Major Financial Services Group Sees XRP Exceeding Bitcoin’s Market Cap

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The president of SBI Holdings in Japan believes that Ripple will dominate global expansion and soon have a bigger market cap than Bitcoin
Ripple XRP Price Prediction: Major Financial Services Group Sees XRP Exceeding Bitcoin’s Market Cap
Contents

The SBI Group, a Japan-based financial services giant as well as a keen partner with Ripple for their bank settlement cryptocurrency, are bullish on the XRP token overtaking the current head of the market cap standings, Bitcoin.

The President and Representative Director of SBI Holdings, Yoshitaka Kitao, has come out and said XRP is dominating international expansion and will become global in the future. This global domination, based on XRP’s propensity to partner with major financial institutions across the globe, means Kitao sees it overtaking Bitcoin.

Bitcoin has stood at the head of the market cap standings in relation to cryptocurrency ever since it was invented some 10 years ago. Other coins have come close to knocking it off, but the decentralised coin has stood firm. But, if Kitao is right, XRP could overtake the market cap with a huge growth in price from global adoption.

International adoption

Ripple’s XRP token is as a cryptocurrency global and borderless, just as Bitcoin, because of its decentralised nature. However, Ripple has been looking to run XRP like a business with its xRapid product.

Thus, its growth is based on its adoption by financial institutions around the globe, and as this adoption grows, the worth and interest in XRP will increase, and thus its market cap will begin to rise.

“Because XRP is already beginning to become international, xRapid will be used for fund transfers in 2019. By increasing the so-called XRP’s plastic use, we anticipate that the [Ripple] market capitalization will easily exceed the market capitalization of Bitcoin,” Kiato said.

Ripple has already shown its power in growth as opposed to other major cryptocurrencies, often stealing second spot from Ethereum in the recent past. Ethereum was once a coin that was almost overtaking Bitcoin, but it is now under threat by a much more compliant and potential-full XRP token.

Better use cases

Because Ripple is trying to build XRP’s use cases for financial institutions, it has an advantage over other tokens in that it will be useful rather than just a cryptocurrency experiment. It is highly believed that once crypto finds its killer application, the price of it will skyrocket as people flock in demand.

If XRP does become more globally adopted, there will be an influx of interest in the coin and thus its price will shoot up, allowing it to overtake Bitcoin’s market cap in no time.

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EOS Price Jumps 25% as Market Flattens Out: Is There More to Come?

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The cryptocurrency market’s best performer in the last 24 hours has been EOS as the rest of the growth plateaus – what’s next?
EOS Price Jumps 25% as Market Flattens Out: Is There More to Come?
Contents

Ever since last week Friday, where there were small indications that a rally could happen, the cryptocurrency market has shown some good growth, with Bitcoin, the head of the market, topping off at just under $4,000.

What has been typical of this small rally has been the effect of some of the major altcoins in pushing the cryptocurrency market. It began with the likes of Binance Coin, Stellar and Tron, and then saw Ethereum take over, but now EOS has shown a huge 25% growth spike in the last 24 hours.

It would seem that this rally has flattened out for the moment, with a lot of the coins levelling out. It is now important to see what comes next as another rally following this levelling could be massive for the medium to long term growth of the entire market.

EOS Drive

The now-fourth biggest cryptocurrency based on market cap has advanced nearly 25 percent in the last day to reach $3.47 and is currently neck-and-neck with Litecoin, whose own value has also ballooned 11 percent since year-end 2018.

Today’s gains reflect support from the EOS community and could have something to do with Block.one, the creator of EOS, recently providing greater clarity on the roadmap.

Block.one CEO Brendan Blumer addressed some of the community concerns on social media, reminding them in a message entitled “Great Things Take Time” that there is more ahead than meets the eye.

Of course what is important to note in regards to this kind of reaction is that these altcoin projects are putting out positive news, and that is having an effect not only on the coin, but the market in general.

There is positive news being met with results which are driving the market, and this has not been seen for a long period. The bullish market tendencies being seen could be indicative of a change in the sentiment.

What next?

It is still early to call, and quite tentative, but it certainly feels like a bull run could be developing. It may be based off the altcoin news and sentiment, but Bitcoin will play a important role. The major cryptocurrency came $30 short of cracking the $4,000 mark.

If Bitcoin is able to breach that resistance, even if it is through the drive of another altcoin, it could open up a whole new level of potential gains across the market and could possibly start a new bull run.

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