According to Greg Adams who is the proprietor of blokt.com 2018 would be pretty good for cryptocurrencies. He, however, adds that he does not expect Bitcoin to outperform in 2018. He thinks that going forward, Ethereum might be able to provide the best return.
He further adds that he does not believe that Bitcoin would actually die down. Rather he believes that it would stagnate at the present levels.
According to him, there are many other projects which can easily gather steam this year. One of them being Ethereum.
He further added that Bitcoin is actually a pretty old cryptocurrency. There are many other cryptocurrencies which are technologically more advanced as compared to Bitcoin. He believes that the value of Ethereum would go to around $ 3000 and it would go to around $ 7000 within 3 years.
With the help of new technologies which are being developed on the Ethereum platform, the value of Ethereum would surely rise in the future.
Developing a platform:
Ethereum is much more than a cryptocurrency, unlike Bitcoin. Ethereum is actually a platform which is used by plenty of ICO’s as well as other companies. Moreover, many Fortune 500 companies are trying to use and develop applications related to the Ethereum blockchain.
The usage of smart contract mechanism is also boosting the value of Ethereum. This is one of the main reasons why the potential in Ethereum is pretty huge.
One thing however which needs to be understood pretty well is that Ethereum is not the pioneer when it comes to cryptocurrency. That is why many of the cryptocurrency enthusiasts think that Ethereum might not be able to eclipse Bitcoin. Also, the projections of Bitcoin are pretty rosy in 2018. Many of the enthusiasts think that Bitcoin would get around $ 50,000. If indeed that happens, the market cap of Bitcoin would still be higher than Ethereum.
One thing which is for sure is that most of the experts are predicting that the upcoming year would be pretty interesting for cryptocurrencies. They are also predicting that the return which most of the cryptocurrencies would give would be astronomical as well. It remains to be seen whether such returns are possible in 2018 or whether the cryptocurrency market remains subdued.
Ethereum has had quite a rough year, but will this situation continue? What value will Ethereum have by the end of 2019? Will the price of Ethereum surge toward unseen all-time-highs? Or are we in for another bear year? Many crypto experts believe that as blockchain becomes more widely adopted, the price and reputation of Ethereum will increase accordingly. Here are some Ethereum price predictions.
Matthew De Silva: Close to zero
Matthew De Silva, a cryptocurrency journalist at Quartz, made his price prediction known in September after prices crashed to the $179 mark.
The argument that De Silva made was that Ethereum is reaching its natural state, which, according to him, is close to zero.
Joseph Raczynski: Ethereum will hit $1,200 by Q4 2019
Joseph Raczynski, the founder of JoeTechnologist.com and a key blockchain influencer with a Twitter following of 153K, expects the value of Ethereum to hit $1,200 by Q4 2019. He attributed his projection to the popularity of Ethereum’s proof of concept among institutional investors. He also added that the network has the largest developer community.
‘They are one of the most real projects to date. Nearly all large organizations are testing on this platform’, Raczynski said.
Tom Lee: $1900 by the end of 2019
According to Tom Lee, head of research at Fundstrat Global Advisors, Ethereum is about to rally strong, pointing at its recent sharp losses, and stating that the digital currency is well-positioned for a recovery.
While Lee may be highly bullish on Ethereum’s price prediction, Tim Enneking, managing director of Digital Capital Management, disagrees.
He said that such a price move is highly unlikely. ‘There are no drivers to push ETH to 40% above its prior all-time high’, he added.
Nigel Green: $2500 with a further increase in 2019 and 2020
The CEO of the deVere Group, believes the price of Ethereum will increase significantly and could hit $2,500 with a further increase by 2019 and 2020.
‘This general upswing will be fueled by three mains drivers. First, more and more platforms are using Ethereum as a means of trading. Second, the increased use of smart contracts by Ethereum. And third, the decentralization of cloud computing’, DeVere said.
According to DeVere there will be several key motivators that will fuel a rally in crypto prices, which will include the growing integration with and adoption by major banks and other financial institutions.
‘Another key reason for the rally is that there’s a growing awareness of the need and demand for digital, global currencies in a digitalised, globalised world’, Green said. ‘Ethereum can be expected to solidify its position as the second most valuable and used cryptocurrency token in the world.
Brian Schuster: $10,000 or even $100,000, if it replaces gold as a store of value.
The head of Founder Solutions at Ark Capital LLC presents an extreme bullish picture of Ethereum reaching $100,000 per coin. The ultimate replacement of gold with crypto has been discussed endlessly by a number of other market observers, even though Bitcoin is mostly seen as the favourite replacement coin.
‘What if you believe that Ethereum is less like one individual business and more like a store of value, like gold? This gives us a potential market capitalization of roughly $10 trillion, leading us to believe that the price of Ethereum might rise as high as $100,000 per coin. We might even go one step further and say that Ethereum is not like one asset, but an asset to replace all currency that exists.’, Schuster said.
Schuster further claims that Ethereum’s platform aspect may eventually lead to it becoming a sort of mother currency for all future digital currencies, and this in a world where digital currencies are the norm.
Jeff Reed: Ethereum is more valuable than Bitcoin
Cryptocurrency author and market observer Jeff Reed points out Ethereum as a more certain long-term bet than Bitcoin.
‘Like Bitcoin, there is little stopping Ethereum from being an alternative currency to fiat and commodity currencies. You can conceivably trade anything using Ethereum, but this is not Ethereum’s strength in comparison to other cryptocurrencies – they can all do this. It’s rather the computing language that allows the smart contracts to exist that makes Ethereum more valuable than BTC’, he said.
Reed doesn’t give a price prediction or timeline, however, according to him, the market boils down to Ethereum eventually trumping Bitcoin, and seizing its top price position.
Bitcoin Price Predictions 2019: How high can Bitcoin price go in 2019? Up to $1 million or down to $100? (In-Depth Analysis)
Bitcoin prices in 2018 had been marked by volatility which had made bitcoin price prediction in short-term a bit of a challenge, even for the experienced analysts.
History generally has a way of repeating itself but bitcoin has a lot of history which makes it an equal challenge predicting which history will be repeated. It takes more than a study of past trends to get predictions spot-on this time and so we ended this article by highlighting certain area expert analysts were looking at.
Analysts, enthusiast, and industry figures have very diverging opinions and bitcoin price predictions for both long and short-term. Optimism is still high in many quarters—reports of a new survey among British financials suggest a wide majority will buy more coins in hope of price resurgence later this year.
As we delve into who’s saying what and why, here’s a heads-up. Expect a lot more price fluctuations in the interim. It’s going to be a bumpy ride getting to wherever Bitcoin is headed by the year’s end.
Here are some Bitcion predictions for 2019.
Mitch Blakeway, Head of Trading at Quantatex
“We expect a high degree of volatility in the very near future.
“A high level of Bitcoins has recently been moved from cold storage to hot storage by significant influencers in the cryptocurrency market. What this means is that investors who have the ability to move the market are gearing up to trade. This could mean moves greater than 10% in either direction.
“There are notable levels of support and resistance with support around the $2,850 level for Bitcoin and resistance around $4,000 therefore a break either below $2,850 or above $4,000 could lead to momentum in that direction.
“We believe that Bitcoin will eventually shrug off the recent weakness during 2019 and expect the price to retest record highs of $20,000 by December 2019. This is justified on a number of fronts.
“We expect an ETF in Bitcoin to be authorised by the SEC in 2019. We expect continued adoption of certain cryptocurrencies such as Ripple (XRP) by banking institutions during 2019, which will have the knock on effect of positivity for Bitcoin as other cryptocurrencies tend to be ‘pegged’ to Bitcoin.
“We also believe that once the selloff has finished there will be modest headroom above the current price which will allow for buying momentum.
“During the dotcom boom the price of Apple shares went from $1 to $4 before ‘collapsing’ to $1 again. It now trades at around $176 per share at time of writing, therefore anyone fearing the worst after the dotcom boom would have missed out whereas anyone with a bit of courage and forward thinking would have seen significant returns.”
George Ermakov, Head of Research & Development at Crypterium
“Previous Cryptreium research identified a Bitcoin support area in the range between $3,000 to $5,000. At the moment, Bitcoin is actively trading in this range.
“Based on the existence of important fundamental factors such as the launch of BAKKT ICE and NASDAQ futures, 2019 is expected to be positive for price dynamics.
“Technical analysis based on logarithmic scale shows the expected price levels that bitcoin can reach in 2019. Bitcoin is likely to reach a price of around $12,000, which will be an excellent result and can initiate a further growth in 2020. 2020 is close to another important date – the BTC ‘halving’.”
And now some old fashion Bitcoin predictions.
Surely, Bitcoin is headed up – John McAfee
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being very positive about Bitcoin. He predicted that Bitcoin price will hit $1 million by 2020 following last year’s prediction of $7000 which was well surpassed.
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD
— John McAfee (@officialmcafee) November 29, 2017
Bitcoin Price Prediction Tracker portal, Bircoin.top, did the maths and explain that Bitcoin needs to grow daily at 0.4840957034310259% per day.to meet McAfee’s prediction. Cool right? However, to hit McAfee’s target, BTC would end the year just over $29k.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]“BTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $1 million by the end of 2020. I will still eat my d**k if wrong” – John McAfee[/perfectpullquote]
Apart from the economics behind the limited supply of Bitcoin, his prediction considered the factors like the increased adoption of Bitcoin and blockchain as well as a total cryptocurrency’s market cap around $162 billion which gives large room for growth.
Expect stability only after 10 years – Kristjan Dekleva (Hedge)
The Swiss-based financial expert will have us brace up for a decade of turbulence before any hope for a stable bitcoin. This he suggests will coincide with a general acceptance of Bitcoin even in hard-stance China. This though, not as a fiat replacement but a viable alternative.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]“In my opinion, it will be at least 10 years before we see stability”. – Kristjan Dekleva (Hedge)[/perfectpullquote] The finance expert at cryptocurrency project Hedge sees Bitcoin investments as all-too-similar to the DotCom bubble of the 90s. [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]“In the short-term, falls have been driven by emotion and in many cases disinformation – a small rumor can have a big impact…Demand is driven by market speculation, but the absence of institutional investors means the market is unstable.[/perfectpullquote]
Instability it is. Next stop is the prestigious Harvard.
Bitcoin to shrink to $100 – Kenneth Rogoff (Harvard Prof & ex IMF chief)
Known for his disparaging remarks against Bitcoin, a former chief economist at the International Monetary Fund’s (IMF) Kenneth Rogoff has poured icy water on hopes of Bitcoin making it to the moon.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]“I think Bitcoin will be worth a tiny fraction of what it is now if we’re headed out 10 years from now…I would see $100 as being a lot more likely than $100,000.” – Kenneth Rogoff[/perfectpullquote] Rogoff’s prediction is based on his long-held belief that governments will rise against anonymous virtual currencies like Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.
Bitcoin is the future; Fiat is Past – (Tim Draper, Venture Capitalist)
In 2014 with bitcoin at only $413, popular VC, Tim Draper predicted bitcoin to reach $10,000 in three years. This was fulfilled a month earlier than he predicated earning him a reputation among crypto fans. He said he expected the Bitcoin to continue its growth in an interview with Bloomberg last year. Tim Draper has made successful bets with Tesla, Skype, and Twitter in the past.
Assuming this growth happens at the same pace as the 3-year journey to $10k then we’re in for six digits. Maniacal right? That’s exactly how Draper feels about Bitcoin prospects. Now onto someone who understands a lot about bitcoin’s foundation.
Bitcoin will hit $ 40,000 – Llew Claasen (Executive Director, Bitcoin Foundation)
Last month, Llew Classen made a bold statement to reassure Bitcoin believers that the cryptocurrency is on the right track –specifically, on track to reach the $40,000 mark. Though his outlook for some altcoin holders was not very encouraging, he made it clear that as something new, cryptocurrency will be as risky as it is exciting.
Bitcoin Will hit $320,000 someday – Cameron Winklevoss (co-founder, Gemini)
One of the popular Winkelvoss twins, Cameron Winklevoss recently said that he could easily see the price of BTC go up 40% someday. This year maybe? Not likely. The twin said he and his brother were taking longer outlook, 10 to 20 years.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]“Bitcoin is actually fixed in supply so it’s better than scarce … it sort of equals a better gold across the board. We think regardless of the price moves in the last few weeks, it’s still a very underappreciated asset.” – Winklevoss [/perfectpullquote] The fourth wealthiest cryptocurrency investor weighed bitcoin’s prospect against gold and came up with a resounding verdict. “We believe bitcoin disrupts gold,” He said.
Bitcoin will reach $1million – Bobby Lee (CEO BTCC Exchange)
Bobby Lee, CEO of China’s first Bitcoin exchange speaking at the London Blockchain Week went overboard with his prediction. Lee said bitcoin will surpass $1 million but unlike McAfee, he could see this happen in 20 years’ time.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]“Bitcoin, I think will get to $1 million per bitcoin…Right now it’s 10,000, it will go 100,000 and then 200,000, 500,000.” – Bobby Lee[/perfectpullquote]
A good number of analysts have also had their say though very few would be drawn into actual predictions. We observed a general trend in their assessments.
Expect Price Fluctuations:
At this stage, bitcoin and cryptocurrencies will be greatly affected by speculations. Even small developments in governments, traditional will likely affect prices. Most say the fluctuations are normal and wouldn’t affect the longer term outlook.
Experts would prefer to make predictions over a longer period. It is more common to have bitcoin price predictions for 2020 or a 10 to 20-year outlook. While the current reality may suggest some gloom, it’s worth remembering that the heights achieved last year came amidst similar corrections along the way.
Bitcoin will be the standard for virtual currencies.
Though bitcoin may have a limited use case, it has been tipped to remain the king of all cryptocurrencies. It’s not going to be a case of “which altcoin will overtake bitcoin” rather how they will impress with their special use cases. It is a fact that the technology behind bitcoin is less sophisticated when compared to many other projects like ethereum.
Bitcoin as a store of value
Gradually, bitcoin is being seen more as a store of value that an actual currency being compared to gold and other assets. Bitcoin was originally designed as an alternative currency to bank the unbanked. Most decision making bodies and financial experts, however, see Bitcoin more as a store of value, an asset rather than a medium of transaction.
Many Altcoins will suffer
Part of the process that will lead to general acceptance of cryptocurrencies will include a clean-up of “useless” cryptocurrencies. A good number of the 2000 coins will naturally go away as their value become worthless—some, only a fraction of cent. Brad Garlinghouse, the CEO of Ripple and Llew Claasen of Bitcoin Foundation are among those raising this alarm.
Economics of Scarcity
The limited supply of bitcoin—a fixed supply 21 million BTCs—will play a role in its price; if not now, in the future.
Outside factors will play a significant role
Many observers believe that outside factors which affect the adoption of bitcoin will ultimately dictate the price in the short-term. The creation and performance of futures markets, for instance, is expected to tilt the price either way.
There are still concerns about bitcoins used for illicit purposes
Due to the anonymity of Bitcoin transactions, it has been used to conduct illegal activities giving Bitcoin a general bad image. This image, analysts believe will affect its adoption and ultimately its prospects in the future.
Finally, Caution against risking your life savings
Crypto investments are new and super-risky. Remember ethereum founder saying that cryptos are so risky the prizes might actually drop to zero. Well, that doesn’t seem practical but the message was clear. Do not invest your life savings in bitcoin or cryptocurrencies generally. Just like John Draper noted, you still need to buy stuff in fiat. So while bitcoin will likely worth a lot more in the future, it’s advisable to invest just as much as one can afford to lose.