Bitpay: a new industry players will raise the price of bitcoin up to $20 000

[boss.afro]

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.com

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[Renaldi blackspadeteam]

I also believe if the price of bitcoin can touch $ 20K, after the ETF has been approved, for now it's more patient to continue to wait for the ETF to be accepted, and on the other hand this is the best time for bitcoin investment, because if the price of bitcoin recovers then it can imagine the benefits obtained

[davis196]

Nothing new here.We are still waiting for Bakkt and the ETF approval to bring in some new hype and start the next btc bull run.
The other statements made by Sonny Singh are right.Altcoins are useless without Bitcoin and the ICOs are dead.Nothing new again.I can make the same statements,but I'm not a Bitpay director.

[NeuroticFish]

Of course that his predictions are related to his interest. Yes, Bitcoin should rise sooner or later, but we don't know when.
Bakkt can get very well postponed, ETF the same.. until the exchanges "get more reliable" (at least that's one of the official views).
Or Bakkt and ETF get approved early and make a nice surprise.
However, while these can have a big impact on the price, there is no guarantee at all. I was over optimistic about the price for half of this year. Now I really don't know anymore.
Time will tell.

[BrewMaster]

i believe that at this point everything will be very similar to 2013 to 2017. there was no reason for it but people pushed for this similarity enough that now it is becoming a reality.
this means a very long downtrend then a slow rise and as we get closer to the previous ATH we will see another surge of buyers which means in about 2020 we can see a price over $80k at least.

at this point the only thing that i am interested in regarding price is when market is going to be less manipulated by whales and FUD.

[Ulyss]

It's not like that.
especially if China falls.
then no industry players will help

[MULTIK888]

The forecast for 2019 is thoughts out loud! There are thousands of such analysts and predictors and each sings his own song. What if Chen bitcoin in 2019 and reaches $ 6,000 and will continue to decline? Where is the guarantee that the price will rise?.
Of course to think in the direction of increasing correctly, but once again I repeat this is just a guess and no one knows what will happen to bitcoin in a year though we hope for the best!

[figmentofmyass]

i believe that at this point everything will be very similar to 2013 to 2017. there was no reason for it but people pushed for this similarity enough that now it is becoming a reality.
this means a very long downtrend then a slow rise and as we get closer to the previous ATH we will see another surge of buyers which means in about 2020 we can see a price over $80k at least.

at this point the only thing that i am interested in regarding price is when market is going to be less manipulated by whales and FUD.

how can you distinguish between a market that is illiquid, emotional, and speculative vs one that is manipulated? as long as bitcoin remains volatile like this, will you always assume that manipulation is responsible for all price moves?

"I think it's safe to say that right now the ICO market is pretty much dead. Maybe a few altcoins will survive

reminds me of "bitcoin is dead".

people are gonna be surprised at how high alts go during the next bubble. a lot of coins will rise from the dead just like they did in 2017.

[LeGaulois]

We don't need predictions we need facts, and facts matter.
Predictions? we read a ton of them daily here or in the news, every bitcoin place you go you read about a prediction from people who have often no clue what they are talking about. It's not a rocket science that fresh money injected will make Bitcoin back on track, but I said we need facts, not the predictions.

[gentlemand]

people are gonna be surprised at how high alts go during the next bubble. a lot of coins will rise from the dead just like they did in 2017.

The alts that go high again will be the same old stagers that didn't get sucked into ICO bonkersdom, and some new ones that have nothing to do with that type of platform. The form ICOs took in 2017 won't be permitted to happen again.

I also believe if the price of bitcoin can touch $ 20K, after the ETF has been approved, for now it's more patient to continue to wait for the ETF to be accepted, and on the other hand this is the best time for bitcoin investment, because if the price of bitcoin recovers then it can imagine the benefits obtained

ETFs look just as unlikely as ever to me. They're not going to happen until Bitcoin markets look radically different to how they look now.

[Supercrypt]

We can never know what the price will be even with those ETF things coming around but the real question will be when SEC gives their response this 29th December. So to me, that is the real test for bitcoin, if it gets accepted which after all this drama I think it will, we will see some bitcoin increases or at least we should see some of it but we still don't know how much bitcoin Craig has so maybe if we try to go higher he will sell more and ruin everything but the common logic says it should be going up.

$20k is a imaginary point of return for all of us since that was the all time high when we reached it last year and breaking that would mean a lot of good things but lets not forget that without proper volume it would be impossible to be there anytime soon, not next month nor not next year if we don't get that volume.

[damberg]

I am also quite optimistic about 2019 in terms of cryptocurrency prices. However, don't forget that advocating Bitcoin and forecasting price growth is a profitable agenda for Bitpay. They are simply not unbiased.

[darklus123]

It is clear and obvious that ICO has been leeching bitcoin's benefits and now that its price is dropping most a lot of this coins already died.

If they were sure that new investors will come then i might save bitcoin in a short period of time. As a matter of fact I am quite sure that if this investors will go in early next year. Probably if there will be hard fork happening. Then most of them will go out in the later part of 2019

[dothebeats]

I wouldn't bank too much on this one though, seeing that institutional investors are still wary of the scene even though the big names are already setting plans for bitcoin come next year. Also, ICOs are indeed dead, given how strict governments are on these so-called "startups" after they have noticed that most are in it only for the quick money-grab and not actual innovation--not to mention the rise of ICO scams that were perpetrated in 2017 alone. As for the ETFs, if Bakkt would prove successful, I guess it will draw a line directly towards ETF approvals which has proved elusive for the past year no matter how viable and good the proposals are.

[Wilhelm]

It's not like that.
especially if China falls.
then no industry players will help

China ban ... crying wolf since 2009

[Ulyss]

It's not like that.
especially if China falls.
then no industry players will help

China ban ... crying wolf since 2009

I know.
But everything is connected. Economy, Politics, Crypt.
For example, if the world economy collapses (and the stock market subsides), then no industry players will keep the price(20к$/btc) of Bitcoin

[Kemarit]

As usual, those people who have so much interest on Bitcoin will always remain bullish even though its obvious that recovery will take a long time to achieved. Of course sooner or later this bearish cycle will need to come to an end, with BAKKT or a Bitcoin ETF will provide such catalyst? Or people are getting tired of hearing it that they really decided to get out of the market? although we wanted to be optimistic, but chances are the recovery might take a full year as well and we still searching for news that will re-ignite this market again.

[Renaldi blackspadeteam]

I also believe if the price of bitcoin can touch $ 20K, after the ETF has been approved, for now it's more patient to continue to wait for the ETF to be accepted, and on the other hand this is the best time for bitcoin investment, because if the price of bitcoin recovers then it can imagine the benefits obtained

ETFs look just as unlikely as ever to me. They're not going to happen until Bitcoin markets look radically different to how they look now.

I understand what you mean, right now I and the other traders may just be quiet and be patient to see the cryptocurrency market conditions, maybe no one knows what will happen tomorrow, let the time answer.

[GregH37]

The key point here is the word "commodity", Sonny Singh realizes there is only two paths to success for bitcoin, one is adoption which could be done via a lot of people having a quite easy reach to crypto world and incredibly in our lives type of purchasing and selling ease.

Second is the professional finance world getting into it. "Commodity" is the gold/silver/oil type of things and if we can manage to put bitcoin into their path than yes we are losing a big part of our "bitcoin is money" appeal but also gaining a great deal of ease of purchase and sell with professional world, that way we can definitely get a lot more people interested in bitcoin. As he says the more people come in the more money they bring into the market so people coming in would definitely make us a lot of money.

[Cosbycoin]

There is hope for Bitcoin but I don’t. Know if there is any hope for altcoins. Altcoins seems like they will be left behind this year, unless coins like ETH and Ripple are likely to succeed, but we don’t know that yet; ETH seems to be getting back on top, but as for BTC, everyone is sure of that, there is going to be a huge bull run, and this time is going to be very big for sure, likely to be twice of what it was last two years.