Recently, Peter Brandt, one of the most well-known crypto analysts, declared his current bitcoin price prediction. According to it, he considers a BTC price of $50,000 to be by no means unrealistic. And he’s not the only one who is optimistic about the future of the crypto world’s favourite currency.
In general, the sentiment on the market is becoming increasingly more positive. But what’s the reason for this newly found optimism? Time for a detailed bitcoin price prediction to answer this question.
In this article, you will not only find a detailed analysis of the current market and BTC price trends, but also an overview of the most recent bitcoin predictions for 2019 and the near future. This way, you can make up your own mind about the potential of the most popular cryptocurrency.
The current BTC price chart
First of all, let’s take a look at the current price movement to see why bitcoin predictions are suddenly so popular once again:
Since the beginning of the year, the BTC price seemed frozen in an eternal sideways trend. However, after steadily fluctuating between $ 3,500 and $ 4,000 in the recent weeks, in early April, a new hope spread among crypto enthusiasts. On April 2, the bitcoin price suddenly rose steeply from around $ 4,200. Two days later, it managed to break above $ 5,000.
According to the crypto community, the strong (and sudden) price acceleration is due to a larger purchase order that triggered bitcoin’s breakout. After that, we can see a minor correction at the moment.
Currently, the most popular cryptocurrency has a market capitalization of $ 82,212,733,449 and is traded for $ 5,059.
The crypto market is slowly maturing
As usual, the altcoins followed the example of the bitcoin price and have in recent days made profits in the double-digits. Even during the following correction, they have kept most of their recent gains.
What is new, however, is that some coins have experienced their own price movements over the past two months. Especially Theta, OmiseGo and Decred should be mentioned here. Regardless of the BTC price development, these currencies have gained between 8 and 12 percent.
Erik Voorhees, CEO of ShapeShift, a major crypto exchange, is convinced that this is the perfect time for a positive bitcoin price prediction. On Twitter he wrote:
Crypto is maturing. It is now firmly in its adolescence.
— Erik Voorhees (@ErikVoorhees) March 29, 2019
And it is not untrue that the current development is a positive one. Usually a bear market separates the wheat from the chaff. That’s because it makes it clear which industry can survive, and which is merely a short-lived hype. The fact that the crypto market has not yet been finished off by the largest bear market in the history of digital currencies has therefore given rise to numerous positive crypto and bitcoin price predictions.
In the case of the crypto industry, it is particularly noticeable that institutional investors have not been deterred by the bear market. They don’t even seem to mind that, as of now, the crypto market is still largely unregulated. Keep in mind that these kinds of investors usually aren’t interested in new markets because of the risks associated with them (especially in terms of liquidity and compliance).
In fact, the crypto market has seen even more institutionalization in the past four months than from 2009 to 2018.
Financial institutions such as Fidelity, ICE and Nasdaq are currently actively expanding their crypto portfolios. In addition, there are regular news about larger companies integrating cryptocurrencies. In March, for example, the largest retailer in Switzerland, Digitec Galaxus, and the Swiss luxury hotel Dolder integrated bitcoin (BTC). Large companies in Asia such as SBI Holdings, Samsung and Cocoa have entered the crypto sector, as well. Even Japan’s largest railway operator announced that it will soon start to accept cryptocurrencies.
Ryan Selkis is therefore convinced that the bottom of the bitcoin price, which usually determines the movement of the entire market, has finally been reached. On March 20, he announced:
I'd be extremely surprised if the bottom wasn't in for this $BTC bear market.
If you've been on the sidelines, what are you waiting for if not now?
If you're a long-term bull, the 5 year EV is 25-50x, and you're going to wait to time an entry that's 20% more attractive?
— Ryan Selkis (@twobitidiot) March 21, 2019
Will we soon witness a new bitcoin bullrun?
In an interview on CNBC’s Squawk Box analyst Tom Lee, Head of Research at Fundstrat Global Advisors, announced that he considers the recent bitcoin rally of 19% to be crucial.
According to his bitcoin price prediction, the entry of whales is a good sign as it will help BTC to gain momentum. With the all-time high of the bitcoin price at the end of 2017 at around $ 20,000, many of them have made huge profits. The fact that they are now slowly reinvesting them shows how confident the whales are that the market is ready to take off again.
“Bitcoin had a rough 2018 and for much of 2019, , it’s been steadily climbing, and from what we can gather, it’s because there have been positive things taking place. You know a lot of the old whale wallets are buying bitcoin so it’s been slow accumulation. ”
He also adds: “[Whales are] some of the original owners of bitcoin. Some of them who liquidated at $20,000 are starting to buy back. And then we saw positive developments like Bakkt is coming, a lot of infrastructure like Fidelity custody, activity has been picking up especially in regions with inflation and political issues like Venezuela and Turkey. I think finally we had a big move on April 1. It was real evidence that there was a lot of dry powder. “
As a result, his bitcoin price prediction is that BTC is on the right track to steadily gain value in 2019. In the same interview, he estimated the current fair market price of BTC to be $ 14,000. That would mean that, according to his bitcoin analysis, the current price would be 64% below market value.
Tom Lee’s recommendations for investors
According to Lee, even for investors who don’t primarily focus on crypto, it would be worthwhile to dedicate at least 1% or 2% of their portfolio to cryptocurrencies. After all, this would only be a very small risk.
At the same time, however, he also pointed out that bitcoin usually generates its gains during the 10 best trading days of the year. If one were to take these essential days away, BTC would have lost a quarter of its value annually since 2013.
The conclusion he draws from this is simple:
“To take profits, you basically have to hold, i.e. “hodl”it, as you say.”
Brandt’s bitcoin price prediction is $ 50,000
Now the experienced trader Peter Brandt spoke up as well. He is not just any analyst, but a true celebrity in the crypto world. After all, in one of his older bitcoin price predictions, he has predicted the bitcoin bullrun at the end of 2017 to stop at $ 20,000 and eventually fall by 80% to a mere $ 4,000. And as we all know, that’s exactly what happened in the end and caught many off guard.
If Brandt has something to say, investors will therefore usually listen carefully. His approach is a bit different from Lee’s, however, as instead of looking for the catalysts of a rally, his bitcoin analysis focuses more on the general demand of a coin. Still like Lee, his bitcoin price prediction is very positive.
According to Brandt, the recent 19% rally can simply be broken down to the fact that there are currently more buyers than sellers. At the same time there also seems to be a greater urge to buy. And that may not be unjustified. A look at the current BTC chart revealed a familiar price movement for Brandt. To Yahoo Finance, he described his observation as follows:
“We saw sequential 10 up and down moves in the bear market, and we’ve almost identically formed that same sort of pattern. After the 2015 low in bitcoin, we saw the market then developed into a parabolic advance. […] Based on those analog studies, I think crypto now will go back into a parabolic bull market.”
Obviously, he wants to allude to the fact that the current bitcoin chart of 2018/19 has a strong similarity to the bear market 2013-2015. And, as is well known, the market then went on to reach its all-time high with a BTC price of $ 20,000. This time, however, Brandt’s bitcoin price prediction is that BTC is heading for $ 50,000. Only one question remains:
— Peter Brandt (@PeterLBrandt) April 6, 2019
There are two possibilities:
- The BTC price will rise first, then fall to its low of late 2018 ($ 3,122, according to Bitstamp) before climbing to $ 50,000.
- The BTC price is already heading directly for the $ 50,000 mark.
One thing is clear to him: If history repeats itself (which is the case so far), then we will soon see a BTC price of $ 50,000 – maybe even very soon.
“When bitcoin starts moving, it moves. It doesn’t hold up for everybody to catch a stagecoach, ” he advises.
The bitcoin price prediction of other analysts
Of course, Tom Lee and Peter Brandt are far from the only ones who have dared to come up with their own bitcoin price prediction. With the increasing euphoria on the market, more and more well-known analysts are expressing their own prognosis for the future BTC price movement.
So if you are looking for more bitcoin price predictions and want to see more numbers, here is an overview of the most recent bitcoin forecasts to make up your own mind:
Zhu Fa, co-founder of Poolin
Bitcoin price prediction: $ 74,000- $ 740,000 in the next bull run
Zhu Fa, operator of the fourth largest mining pool, Poolin, with a global hashrate of more than 11%, also believes bitcoin has a bright future ahead of it. According to him, the bitcoin price will reach between $ 74,000 and $ 740,000 during the next bull run.
According to a report by crypto portal 8BTC, his BTC analysis was published on WeChat on February 10 below Zhao Dong’s bitcoin price prediction. The latter is convinced that the bitcoin price has just reached its bottom as well.
Sonny Singh, COO of BitPay
Bitcoin price prediction: $ 15,000-20,000 by the end of 2019
According to an interview with Bloomberg, the COO of the global payment service provider BitPay sees a big price movement by the end of 2019. At the end of the year, he expects a bitcoin price of $ 15,000-20,000 for the time being. Later, he thinks BTC has the potential to rise even higher.
As a catalyst for his bitcoin price prediction, he mentions the entry of established financial institutions (Fidelity, Intercontinental Exchange, Bakkt and BlackRock) into the crypto world. From these companies, he expects that they will launch their own blockchain-powered products in 2020, which should boost prices.
In addition, he mentions the upcoming IPOs of crypto companies (e.g. of the Coinbase exchange and the crypto bank Silvergate). Another important driver he adds, is the possible introduction of a crypto ETF.
John McAfee, software giant
Bitcoin price prediction: $ 1 million by the end of 2020
John McAfee is widely regarded as a very confident crypto-bull known for his optimistic bitcoin forecasts. Due to this, many are somewhat sceptical about his analysis, as he usually tends to talk about very high numbers.
His current bitcoin price prediction is far from conservative as well. Initially his BTC analysis predicted a price of $ 500,000 by the end of 2020. Shortly afterwards, he spoke out in a tweet from February 21, and corrected his forecast to 1 million dollars.
Whether we will see this price at the end of 2020 or much earlier, was not mentioned. Nor did he reveal detailed arguments for his analysis.
Jesse Lund, Blockchain vice president at IBM
Bitcoin price prediction: $ 1 million one day
On the other hand, Jesse Lund, IBM’s Vice President for Blockchain and Digital Currencies, is saying what can often be heard in the crypto realm. In an interview with CryptoFinder on February 20, he did not want to decide on a specific date for his bitcoin price prediction.
“I see bitcoin at $ 1 million someday.”
Instead, he gave a rather vague answer and emphasized that he firmly believes in the potential of bitcoin. Like many, he is therefore convinced that the currency will one day be worth $ 1 million. He doesn’t give away, though, whether this number will be reached in the next bull run or possibly much later.
The whole interview can be found here:
Your opinion counts!
What do you think what one bitcoin will be traded at by the end of this year? We are looking forward to your comments.