In 2019, the price of bitcoin may rise to $15 000 and even reach $20 000. Such a forecast in an interview with
Bloomberg put forward commercial Director of cryptocurrency processing service Bitpay Sonny Singh.
According to him, bitcoin has an excellent reputation, and in the first quarter of 2019, the cryptocurrency will become a viable commodity.
However, he added," we will not see the price move — up or down — for a long time until a new direction appears " for bitcoin.
As the main driver of growth for the industry, he calls the platforms,
Bakkt, Fidelity Digital Assets and BlackRock's initiative to launch bitcoin-ETF.
He also has high hopes for the structural transformation of the cryptocurrency industry itself, including a possible IPO of the leading American company Coinbase. The latter, we recall, denied such rumors.
At the same time, Sonny Singh hammered another nail into the coffin of the ICO industry.
"I think it's safe to say that right now the ICO market is pretty much dead. Maybe a few altcoins will survive, but none of them will survive if bitcoin does not survive," Sonny Singh added.
Earlier, analyst and co-founder of Fundstrat Global Advisors Tom Lee said that the price of bitcoin fell only in the short term.
At the same time, an analyst at Oanda Corp. Stephen Innes said that if prices continue to decline, investors can begin to massively withdraw from the cryptocurrency. Critical, in his opinion, is the mark of $3000.
source
forklog.comIn my opinion, too pessimistic forecast for ICO and the viability of altcoins. The current cryptocurrency is fully capable of surviving without Bitcoin. You also can not argue that Bitcoin is now in great shape. It still has the lowest scalability of seven transactions per second and it is not known when the situation will improve. However, the cryptocurrency market itself is capable of recovering and developing in the near future and we hope that this will happen soon.