Year: 2019

  • Bitcoin Price Prediction for 2019

    Bitcoin Price Prediction for 2019

    Bitcoin Price Prediction for 2019
    Bitcoin price prediction can be a very tricky job. The market is volatile and Bitcoin itself is a real roller coaster.

    By Guy Avtalyon

    What is the Bitcoin price prediction for 2019? What can we expect? Can we expect a new bull run? Will the BTC price stabilize? Are we in for another bear year? Will Bitcoin crash or rise?

    So many questions. Many experts and influencers have shared their price predictions for Bitcoin in 2019.

    Most of you know of the famous Bitcoin price prediction of John McAfee. He said he will eat his dick on national television if BTC not hits $1 million by the end of 2020.

    Now, McAfee didn’t give a price target for 2019, but based on his 2020 prediction Bitcoin needs to be worth just over $170,000 on December 31, 2019, to be on track to hit the $1 million mark a year later.

    Well, it’s time to be serious.

    Seriously, how far can Bitcoin price actually go? No one knows where the price is going to go. These sorts of price movements are common in the volatile world of cryptocurrencies.

    But, 2019 is what the crypto fans are looking forward to. The NASDAQ has also vowed to launch Bitcoin futures in the first half of 2019.

    One of Bloomberg’s column stated that there is a probability that FUD(Fear, Uncertainty, and Doubt) might loom over crypto space in 2019.

    Also, analysts and enthusiasts kept their hopes high. Mike Novogratz said explicitly that he believes there is going to be big adaption in 2019, 2020 as he thinks there will be more contributions from people in the blockchain world.

    After the state government of Ohio has announced that it is going to accept tax payments in BTC it sounds possible. The government has partnered with Bitpay to make this happen conveniently.  So it is possible now the bitcoins can be converted into dollars on behalf of the tax office. The adoption rate going higher and higher.

    Market Prediction For Bitcoin Price

    The market is experiencing volatile conditions. Let’s take a look at the prediction with the market experts. They have been the mind of the cryptocurrency market. Let’s take a look at the famous Bitcoin predictions:

    John McAfee, the founder of the popular McAfee software and a bright Bitcoin follower predicted that Bitcoin will hit $1 million by 2020.

    Sam Doctor and Tom Lee Bitcoin Price Prediction

    Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, believes BTC would grow.

    He is counting on more institutional investors taking on Bitcoin and a steady increase in the Bitcoin user base. Lee explained the current fall in the price of bitcoin by referring to the recent plunge in the price of tech stocks, like Amazon, Apple, and Facebook. He thinks that increased institutional fortunes would help turn BTC’s future around very soon.

    Tom Lee said that the BTC fair value is much higher than the current price. The current fair value is somewhere between $13,800 and $14,800 which he believes might increase and reach $150,000 per coin. As soon as bitcoin wallets account for seven percent of 4.5 billion Visa holders.

    Sam Doctor, an analyst from Fundstrat along with Lee predicted that by 2019, BTC might reach nothing less than $36,000, with the probability of $64,000 at the maximum and $20,000 at its lowest.

    Sonny Singh Bitcoin price prediction

    In a recent interview for Bloomberg, Sonny Singh, the chief commercial officer at Bitpay commented on why it is okay not to panic looking at the current market condition.

    Singh, who is a Bitcoin maximalist, called Bitcoin an “800-pound gorilla, as it has access to the most notable “network effect” of all decentralized networks. He is assertive of the fact that there is a high possibility that BTC might reach $15,000- $20,000 by Thanksgiving, 2019. He was explaining that the probability of a crypto ETF and an influx of funding for startups is high on the cards.

    Ronnie Moas Bitcoin price prediction

    Ronnie Moas is a cryptocurrency analyst. He predicted that BTC might reach $28,000 by 2019. Also, he believes the demand for BTC would increase with its decreasing supply. And he claims that by 2019, the adoption rate would increase. Hence, people would demand more of it. But remember, BTC is not unlimited in supply.

    Anthony Pompliano Bitcoin price prediction

    Anthony Pompliano, founder of Morgan Creek said that “Bitcoin isn’t going anywhere:”

    Pomp tweeted that BTC might go as low as $3000, after which it will continue being bullish starting from 2019. He declared that there is no reason to freak out on the declining price as Bitcoin’s fundamentals are becoming stronger.

    Traders Paradise Bitcoin price prediction

    Bitcoin has been experiencing fluctuations over time. But Traders Paradise strongly believes that Bitcoin will soar up. We have to remind you that Bitcoin’s price falls when Bitcoins being used for illegal purposes. And Bitcoin experienced so many troubles like hacking and stealings. Also, you have to know that Bitcoin is still the market leader.

    NASDAQ is launching BTC’s future, that too at the very beginning of 2019. So, Bitcoin’s price might reach greatly increase by the end of 2019. Hence, this year could have a good prospect and development for Bitcoin.

    This year will be bullish for Bitcoin. More people will start believing in the technology behind Bitcoin. It is very possible for Bitcoin to tripled price by the middle of 2019.

    There is some logical explanation, the more the trading, the more the price.

    We all know there can be only 21 million Bitcoins mined, out of which 17 million has been mined already. That means only 4 million to be mine. That will make its value more. Besides that, more and more countries have shown willingness to integrate Bitcoin and other cryptocurrencies into their financial systems. The governments and the central banks will embrace the digital currencies. Hence, the demand should be more.

    Truth is that regulated markets can function freely and securely.

    Bitcoin prices in 2019 will be marked by volatility which has made bitcoin price prediction in short-term a bit of a challenge, even for experienced analysts. So far, 2018 has presented its own surprises though not a dramatic as the rollercoaster it was in 2017.

    By the end of the year 2019, the Bitcoin price could reach five-digits value. That means that the 2018 bearish trend ends and shifts to the bullish trend.

    Traders Paradise’s prediction is that the cryptocurrency market will experience a certain optimism in 2020. Not only Bitcoin, but all the major cryptocurrencies will also experience an upward shift.

    By 2023, Bitcoin will be used more often by more people. The real-time use case will be increased. That will make it even more powerful.

  • A chaotic December in equity markets

    A chaotic December in equity markets

    2 min read

    A chaotic December in equity markets 1Image from shutterstock.com

    What caused a chaotic December? A chaotic December in equity markets is closing. But, at the end of the year, these were not usual circumstances.

    It’s “completely bizarre,” says Stephen Innes, head of trading for the Asia Pacific at Oanda Corp. “It’s incredible just how harmful markets veer when sentiment slides.”

    Innes mostly is keeping his money on the sidelines. But he has been taking profit on some winning investments. And, also, from blue-chip stocks whose valuations have dropped in the December sell-off.

    Like many other traders in Asia, he’s been watching events play out in the U.S. from a distance, astonished at what he sees.
    So, what he did see?

    A chaotic December in equity marketsSource: Bloomberg

    The S&P 500 Index posted its biggest upward reversal since 2010 on Thursday. Just a day after the largest advance since 2009. Despite this two-day gain, the measure is still down almost 10 percent in December alone.

    That’s the largest drop for each key market barometer since 1931, according to data from LPL Research. But those Depression-era losses were much bigger: the S&P 500 plunged 14.5% while the Dow plunged 17%.

    Two golden rules have been broken.

    First, since 1945, December has produced the highest average gains of any month. But December is the worst month of the year. Second, since the 1970s, the S&P 500 has never slumped when earnings growth was more than 10 percent.

    Mark Matthews, head of Asia research at Bank Julius Baer & Co. in Singapore, is planning to ride it out. “I remain invested through good times and bad,” he says. “Not being invested, over the long term, is like betting against the house in a casino.” He is a long-only investor.

    The December 2018 chaos is making investors nervous.

    This chaotic December in 2018 could have an impact in the future. The investors are worried that the economy could slow in 2019 because of continued trade tensions with China and rate hikes by the Federal Reserve.

    The Dow and S&P 500 are both in the red for the year, their worst annual loss since the 2008 Great Recession, and first annual loss since 2015. Last year, the S&P 500 returned 22%.

    For the past, eight to nine years never happened the U.S. market dropping at this magnitude and speed.

    Maybe the solution is to go overweight cash for the time being. The volatility will continue until year-end until investors get a clearer picture from the holiday earnings season, say experts.

    But longer-term, it is unknown if this will prove a “healthy correction”. The investors may find the S&P 500’s low valuations are attractive and earnings come in above expectations. Or it will mark the end of the bull run. Either way, one thing’s for certain, this movement is definitely unusual.

    This market turbulence isn’t normal.

    Maybe investors should keep away from new trades and tend to the existing investments. Anyway, investors opinion is very bad.

    Yes, most of them don’t think that this huge volatility will continue. But also, they are thinking that it is not a quite good idea to trade stock while the market is like this.

    The investors can’t hope that the markets will turn around in the year’s final days. They are here and it is obvious that nothing will change.

    In the past years, December was usually a very solid month for the market. Professional money managers used to buy top-performing stocks. That made their portfolios look good. This phenomenon is known as window dressing.

    There was also the somewhat mysterious Santa Claus rally effect. The market was very well in the final week of the years.
    There was some chalk up to light trading volume with so many people off for the Christmas holiday.

    But volatility remained this year. Stocks are down.

    It is, as we can see, unusual for this time of year. But the people take holidays. They have hope that the U.S. economy is robust and the sell-off will bottom out.

    For this time of year, some people are probably a little more focused on the market.

    But trying to explain short-term movements in the markets is an exercise in futility because generally, it is pretty random.

    Not only stocks, but Bitcoin has also had a brutal 2018.

    This chaotic December in 2018 had an impact on cryptos too.

    The world’s largest cryptocurrency by market cap is nearly 84% since its meteoric rise topped out at an all-time high of $19,870 in December 2017.

    But just after bitcoin (BTC-USD) peaked, technical trader Peter Brandt made a fantastically prescient call. This has recently resurfaced in crypto circles. In January, he called for an 80% retrace of bitcoin’s parabolic advance, predicting a $3,933 price target. Bitcoin is currently trading around $3,600. It was very close.

    But as ever, there were different opinions.
    A chaotic December in equity markets 3
    The dominant Bitcoin price prediction was that Bitcoin would reach the $14,000 mark by the end of 2018.

    However, that prediction is blown out.

    Despite some optimists who were hoping that Bitcoin will break through the $100,000 barrier till the end of this year. In fact, Jim Cramer was predicting that Bitcoin will go as far as shattering the million dollar threshold one day.

    To do so, market capitalization should surpass 1 trillion USD just on BTC to reach $66,000 per coin, a 10x increase. Well, the entire market cap is at $212 billion. The BTC market cap was $170 billion almost a year ago. Now it is $115 billion and it was at $800 billion in January 2018.

    So, who knows what can happen.

    Today’s price of BTC you can see here

    One thing is certain. After this chaotic December in 2018, next year will be difficult and uncertain. Markets will be full of volatility. Permanent ups and downs.

    Anyway, it will be interesting.

    Risk Disclosure (read carefully!)