[2018-05-15] Predictions of Bitcoin Price to Sky-High by 2019

[Vladdirescu87]

Despite the negative statements from Bill Gates and Warren Buffett last week and recent Bitcoin price fall continue to state that Bitcoin price will soon be back above the psychological $10,000 mark for the first time since the month of March.

Robert Sluymer, managing director and technical strategist at Fundstrat Global Advisors said:

"The regulatory risk, the fundamental risk around what's happening with cryptos has hit a bottom and now we are in a state of general recovery."

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/predictions-of-bitcoin-price-to-sky-high/

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[BitHodler]

The closer we come to the block halving, and the important events and developments, the price is pretty much guaranteed to increase, especially in the latter part of 2019.

It's just a matter of summing up the obvious, which means that you don't have to be an 'expert' or 'analyst' to understand how much potential there is to catch up on in the coming few years.

It seems that everyone nowadays is throwing around with extremely bullish predictions. The only downside of this is that we might see an opposite reaction of the market in the coming months.

Regardless of how seemingly bullish the sentiment is, we are one major dump away from a total sentiment shift. It's basically a perfect shakeout opportunity before the market gets bought up like there is no tomorrow.

[Hamphser]

The closer we come to the block halving, and the important events and developments, the price is pretty much guaranteed to increase, especially in the latter part of 2019.

It's just a matter of summing up the obvious, which means that you don't have to be an 'expert' or 'analyst' to understand how much potential there is to catch up on in the coming few years.

It seems that everyone nowadays is throwing around with extremely bullish predictions. The only downside of this is that we might see an opposite reaction of the market in the coming months.

Regardless of how seemingly bullish the sentiment is, we are one major dump away from a total sentiment shift. It's basically a perfect shakeout opportunity before the market gets bought up like there is no tomorrow.

This is why we do keep on predicting due we do really believe on what we are seeing or had experienced towards bitcoin.You are correct that theres no need to be an expert or analyst to understand the potential because with just a basic observation and experience will really able to make your own views.This is nothing different on last years predictions and views where we didnt even expect to hit up $20k on that year i dont know if it would able to repeat the same trend again.

[Jating]

The closer we come to the block halving, and the important events and developments, the price is pretty much guaranteed to increase, especially in the latter part of 2019.

It's just a matter of summing up the obvious, which means that you don't have to be an 'expert' or 'analyst' to understand how much potential there is to catch up on in the coming few years.

It seems that everyone nowadays is throwing around with extremely bullish predictions. The only downside of this is that we might see an opposite reaction of the market in the coming months.

Regardless of how seemingly bullish the sentiment is, we are one major dump away from a total sentiment shift. It's basically a perfect shakeout opportunity before the market gets bought up like there is no tomorrow.

Correct, no need to be rocket scientist to see where the price is heading in the next couple of years. I really like Fundstrat view though, they are really very bullish about bitcoin although I not surprise because they have huge investment on it so only logical for them to make this bold predictions.

Pretty exciting times ahead, specially the block halving, we may not see the fruits today, but after the next halving I'm sure that the price will take off again. Although the sentiments of investors are still in doubt as evident of the price movement, there will be a time that bitcoin will be oversold again, pushing the price further and probably another all-time-high is in the horizon.

[d5000]

Weak article, based mostly on wishful thinking. They mostly renew the old "argument" that "because hashrate is high, price will go higher". They suppose miners are great at predicting prices, and if they predict prices right, they'll be right ... Someone found circular reasoning here?

The error in this "school of thinking" is that miners already invested in Bitcoin - in the form of mining hardware. They cannot get out easily, and most of them very likely invested in hardware in 2017 when the market was all bullish. Current price should be OK for them to profit, so why should they turn off their miners?

In conclusion, I think it's impossible to predict a price rally only because of mining activity.

The closer we come to the block halving, and the important events and developments, the price is pretty much guaranteed to increase, especially in the latter part of 2019.

As much as I would love a "guaranteed" price increase, there isn't such a thing ... Otherwise, why are people not buying NOW and sending BTC to da moon again? It's because there is some fear in the market.

It isn't that easy that after one dump more we'll grow again. BTC is already valued pretty high, so there must be reasons to invest in it. A new bull market can be triggered by a "fundamental" reason - e.g. a well-working and popular LN or another technology making mass adoption possible, or simply by greed. 2017 was a mix of both - the fundamental reason being Segwit and the financial products based on BTC (futures etc.) launching, and greed complementing these reasons to a very bullish picture.

[Taki]

No matter on this prediction, but bitcoin is falling down now. The price is already 8200$ and who knows what is going to be next. Yes, someone may say that if to compare bitcoin's price with the price of the beginning of 2017 we may see a huge progress a d we should to be happy for such price. But just remind about all those people who invested into bitcoin at 18-19000$ point. I invested like 1000$ on a faze of 10000$ price and still waiting to bitcoin came back at least to this point.
The main thing is that I really do not understand why the price keep dropping when prognoses are so optimistic and the general progress in crypto world is positive?

[Carlton Banks]

Weak article, based mostly on wishful thinking. They mostly renew the old "argument" that "because hashrate is high, price will go higher". They suppose miners are great at predicting prices, and if they predict prices right, they'll be right ... Someone found circular reasoning here?

The error in this "school of thinking" is that miners already invested in Bitcoin - in the form of mining hardware. They cannot get out easily, and most of them very likely invested in hardware in 2017 when the market was all bullish. Current price should be OK for them to profit, so why should they turn off their miners?

In conclusion, I think it's impossible to predict a price rally only because of mining activity.

The closer we come to the block halving, and the important events and developments, the price is pretty much guaranteed to increase, especially in the latter part of 2019.

As much as I would love a "guaranteed" price increase, there isn't such a thing ... Otherwise, why are people not buying NOW and sending BTC to da moon again? It's because there is some fear in the market.

It isn't that easy that after one dump more we'll grow again. BTC is already valued pretty high, so there must be reasons to invest in it. A new bull market can be triggered by a "fundamental" reason - e.g. a well-working and popular LN or another technology making mass adoption possible, or simply by greed. 2017 was a mix of both - the fundamental reason being Segwit and the financial products based on BTC (futures etc.) launching, and greed complementing these reasons to a very bullish picture.

I agree with some of what you're saying, but you're contradicting yourself here.

Saying "fundamental reasons" are needed to trigger bull markets, but dismissing reward halving or hashrate increases as possible such reasons isn't supported by any reasoning you provided. What I do agree with is where you state that "greed" (or more appropriately, "demand") is important, it's one of few factors we can measure in any way at all. Lightning network use cannot be measured very effectively, the only way that matters (counting the number of Lightning channels) is going to be rendered irrelevant once exchanges begin to use Lightning.

And so empirical measurements are the key, I believe. Even demand is a difficult metric to accurately ascertain. It's all very well claiming that this event or another was the cause of a given price move, but it's always just a theory. There will exist some extent to which Bitcoin exchanges and those responsible for big news stories (e.g. "Chinese gov bans Bitcoin for the 100th time") are colluding in pump and dumps. I think we're all too aware of specious numbers (I hesitate to call it "data") coming from exchanges already (remember the laughably high volume figures that certain exchanges would publish, or the innumerable solvency numbers and subsequent bankruptcies that have taken place?).

The advantage of the reward halving is that it's empirically factual, there is no maybe or perhaps about it, and the time and the magnitude are known to all. The BTC supply (and it's 4 yearly halving) is the only accurate component of the price equation that exists. Unfortunately for your arguments, the same is true of the hashrate; it's impossible to manipulate and the effects on Bitcoin's value proposition and price are well known (if somewhat complex and disputed). Talking up (easily manipulated) events is simply playing into the hands of those who may seek to manipulate that price. And you wouldn't want to fuel or be associated with manipulation, would you?

[Betwrong]

No matter on this prediction, but bitcoin is falling down now. The price is already 8200$ and who knows what is going to be next. Yes, someone may say that if to compare bitcoin's price with the price of the beginning of 2017 we may see a huge progress a d we should to be happy for such price. But just remind about all those people who invested into bitcoin at 18-19000$ point. I invested like 1000$ on a faze of 10000$ price and still waiting to bitcoin came back at least to this point.
The main thing is that I really do not understand why the price keep dropping when prognoses are so optimistic and the general progress in crypto world is positive?

I think the price starts going down every time it reaches around $10k because there are still individuals who had bought a lot of BTC under $200 and they try to cash out every time they see a "good price". This process will not last forever though because: 1. the number of Bitcoins is limited; 2. the demand is constantly rising. At some point in the future there will be a situation when those cheaply bought coins will be sold out while the demand will not decrease, but rather increase because according to different independent researches Bitcoin is still used by less than 0.3% of the world's population.

[Carlton Banks]

1. the number of Bitcoins is limited; 2. the demand is constantly rising. At some point in the future there will be a situation when those cheaply bought coins will be sold out while the demand will not decrease, but rather increase because according to different independent researches Bitcoin is still used by less than 0.3% of the world's population.

It's happening slowly already, but eventually the full impact of the last 10 years of money printing is going to find it's way into the price of everything. Notice how massive political destabilisation is taking place in pretty much all oil extracting regions of the world right now. The price of "everything" is being primed for alot of inflation. The Bitcoin price will increase more than ever as a reaction to the outcome of the aforementioned trends than to anything else previously, these are very long term phenomena.  

[loveren007]

funny... fine there is decreement about btc few months back but... cant  people see the fast progress of btc over the years now..am all into the prediction offcourse the price will double sky high come 2019... either false talk on btc or no false talk..my people btc is here to stay  and more than double sky high definitely

[d5000]

Saying "fundamental reasons" are needed to trigger bull markets, but dismissing reward halving or hashrate increases as possible such reasons isn't supported by any reasoning you provided. [...]
The advantage of the reward halving is that it's empirically factual, there is no maybe or perhaps about it, and the time and the magnitude are known to all. The BTC supply (and it's 4 yearly halving) is the only accurate component of the price equation that exists. Unfortunately for your arguments, the same is true of the hashrate; it's impossible to manipulate and the effects on Bitcoin's value proposition and price are well known (if somewhat complex and disputed).

You have a point, hashrate and halvings are measurable and can have influence, but what I dispute is the theory behind "price follows hashrate". My opinion is that is the other way around, so you cannot predict price simply following the hashrate chart.

My reasoning has two fundaments:
1) historical: Hashrate has grown without any pause since 2012, even in the "crypto winter" in 2014/15. "Price-follows-hashrate"-supporters could now argue that the hashrate curve flattened in 2014 so one could try to predict price based on growth rate more than on absolute numbers, but there was still steep growth in mid-2014 when the bears already had taken over. And we're seeing the beginning of a similar "flattening" now - it should be a reaction to the current bear market.
2) "systemic": I already mentioned briefly that most miners that stocked up hardware in the last months have most likely planned their expansion in 2017's bull market. So there is a delay between a "bull market event" and a "hashrate expansion event".

So I don't see any contradiction here. Both arguments support the hashrate-follows-price theory.

IMO it's very difficult to predict new bull markets - with one exception: the "halving" event. While I continue to think that its effect on supply (and so the "economic" theory behind its effect) is negligible, it seems to trigger bullish sentiment very successfully.

As about future bull markets: a broad adoption of LN imo is the most likely the trigger for the next bull market. Measuring it is difficult, you're right, but one can measure e.g. the combined market capitalization of organizations/businesses that accept LN payments and get a rough estimation.

[Harlot]

"The regulatory risk, the fundamental risk around what's happening with cryptos has hit a bottom and now we are in a state of general recovery."

He didn't even mention why we are in the state of recovery. And believing with this price of Bitcoin right now is hard to do. I really hate it when people do predictions like this without giving any factual support as their basis. But I don't like to blame Robert Sluymer but this news maker as they are like creating their own news article with just a piece of words he has said, he didn't even exactly say that we will go above 10,000$ now.