Bitcoin (BTC) Price Prediction 2019/2020/2025: The Future is Already Here
Bitcoin (BTC) Price Prediction 2019/2020/2025: The Future is Already Here
Bitcoin magic phase has begun: $20,000 prediction is quite conservative.
Bitcoin has the potential to beat its all-time high (ATH) marginally below $20,000 by the end of 2019
BTC/USD to trigger its full-blown FOMO on breaking past $10,000 critical level.
Bitcoin price continues to narrow with lower highs below $12,000 and higher lows under $10,000.
Bitcoins Bollinger Band suggest possible trading opportunities from the developing squeeze.
Most of the worlds population has heard aboutBitcoinin the last decade. Some have heard about its amazing features as digital cash and the revolution it is bringing to the financial sector while others have heard about Bitcoin negatively mainly from critics. However, many talks about Bitcoin without taking time to understand it and how it works. Bitcoin has been and still is the key to the global transformation of the financial system and the society at large. This article will attempt to introduce Bitcoin in the simplest way and help you understand the technology behind the cryptocurrency, the future of Bitcoin, as well as various experts take on the Bitcoin price prediction.
Bitcoin came to light following the global Financial crisis of 2008 with the aim of developing a better financial system for the global society without the interference of governments and financial institutions. Bitcoin is mostly referred to as digital cash that is not controlled by any single organization. It can be used to store value, transfer value, buy goods and services and require no permission from a third party. In many occasions, Bitcoin has been referred to as Digital Gold, however, contrary to physical gold Bitcoin is easily accessible, faster with more efficiency especially in terms of storage. Bitcoin is also divisible to the eight decimal places and operates like internet money ordigital cash. Unlike fiat currencies, Bitcoin cannot be manipulated in addition to being a scarce commodity as only 21 million BTC can ever exist.
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Looking back, Bitcoin was created by an anonymous individual or group of people going by the pseudo nameSatoshi Nakamoto. To date, theidentity of Satoshi Nakamotoremains hidden but Bitcoin was the first cryptocurrency to be created following the original white paper published in 2009.
Since its inception, the Bitcoin network has never been hacked. This proves to the world that the Bitcoin protocol can stand the test of time. However, people have lost their Bitcoin due toexchange platforms being hacked. It is, therefore, important that you store your coins in the most secure form possible; preferably in cold wallet storage.
Bitcoin is just but the tip of the iceberg as the technology behind it, theblockchainis the real deal. Blockchain allowed people to alter Bitcoins code and come up with better cryptocurrency networks like Ethereum, Ripple, Bitcoin Cash, Litecoin among others. In addition to that, the blockchain technology is currently revolutionizing governance, big data, logistics, supply chain industries, thehealth industry, and even the education sector, etc.
Read also:Bitcoin Vs Blockchain is Exactly the Same as Facebook vs Net Neutrality: Andreas Antonopoulos
In simpler terms, blockchain is a data record often called blocks that are linked to each other cryptographically. Every block has a cryptographic hash link to the previous block in a timestamp and transaction data. Blockchain was designed to be immutable and therefore resistant to modification making it the most secure way to transfer value without the interruption of third parties.
As much Bitcoin is the revolution we have explored above, it still has a fair share of limitations starting with difficulty in making decisions due to its decentralized nature. This means that for a decision to be made it has to gain the support of most of the miners. Some upgrades require a permanent change in the code referred to as ahard fork. A hard fork on Bitcoin protocol would need at least 75% of all hashing power.
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Secondly, Bitcoin transaction processing time has been a major challenge and continues to hinder mainstream adoption. Larger transaction time leads to higher transaction fees making the network expensive to operate. Initially, Bitcoin was created to support seven transactions per minute with blocks of 1 MB. There was a proposal to increase the block size, however, the proposal did not gain the traction needed to effect the changes. However, a patch referred to as SegWit was developed to allow developers to increase the networks transaction capacity without altering the block size. Privacy is also a concern for many who would have wished their transactions to remain out of the public eye.
Bitcoin sustained extreme declines in 2018.It was a perfect example of from rags to riches and then right back in the rugs.In the previous year, 2017 Bitcoin entered into a parabolic move that saw it ascend to unbelievable highs close to $20,000. However, high volatility and lack of support saw it trim the gains massively. There were attempts to recover along the year but as soon as $6,000 support was broken, Bitcoin spiraled to new 2018 lows around $3,146 in December 2018.
However, since the beginning of 2019 Bitcoin continues to hunt for its lost glory by breaking key barriers to the upside. The rise to highs close to $9,000 has had experts believing that Bitcoin not only found a bottom but also entered a new parabolic move that is going to take it to highs above $10,000.
Coingape predicts that Bitcoin has the potential to beat its all-time high (ATH) marginally below $20,000 by the end of 2019. Once the barrier at $10,000 has been cleared, Bitcoin bulls will have the opportunity to focus of levels close to $15,000 and eventually pull the price towards $20,000 and hit new highs at $23,500. Bitcoin is currently trading at $8,558 after defending key support around $7,500 in the last few days.
This ambitious prediction is supported by the current developments in the industry. There are many financial institutions likeJPMorganandFidelityentering the crypto space to offer services related to digital assets. Moreover, giants likeFacebook will be launching their own cryptos in 2020while huge technology companies like AT&T have started accepting Bitcoin as a payment option. These are other incoming projects bound to create more demand and ease the adoption of cryptocurrencies and other digital assets, in turn, pushing the price higher.
Bitcoin has finally entered a bull phase especially after touching highs above $9,000 for the first time in 2019. Various experts and analysts believe that the bull rally is just beginning and will not stop at $20,000. The CEO of Xapo Wences Casares who also sits on PayPal Board recently remarked saying that Bitcoin will increase 250X in the near future.
The founder ofFundstrat, a leading research firm and an ardent believer of Bitcoin has shown confidence in the ongoing bull rally. According to Lee, Bitcoin is steadily approaching the point of no return. The data from his firm, suggests that onceBTC/USD hits $10,000it will trigger its full-blown FOMO currently labeled asLevel 10 FOMO; which represents the same value that has marked the beginning of Bitcoin parabolic move in the past.
The founder and CEO of Galaxy Digital recent prediction say that Bitcoin is going to consolidate its recent gains between $7,000 and $10,000. He also adds that the momentum could push the price to higher levels. Novogratz believes that mainstream adoption is the main driving force in the current bull rally. Developments in the sector and huge tech firms making entrances in the space are helping to validate Bitcoin and cryptocurrencies.
On a go-forward basis, Bitcoin probably consolidates somewhere between $7,000 and $10,000.You know, trees dont grow to the sky, the chief executive officer of Galaxy Digital Holdings Ltd., said on a conference call Thursday discussing the companys first-quarter financial results. If Im wrong on that, I think Im wrong to the upside, that theres enough excitement and momentum that it could carry through.
The head of operations at OKEx cryptocurrency exchange recently said that Bitcoin rising to $20,000 is simply a conservative prediction.
$20,000 is a conservative prediction for Bitcoin price in 2019, as I said last year, he added The rally wont stop here, because more institutional investors are coming into the market and the 2020 halving effect starts to take place. We are thrilled to witness such bullish trend and I look forward to a new high the Bitcoin deserves. Bitcoin is not just a coin, but a spirit that hinders the crypto-industry.
The co-founder and the CEO ofBitMEX, a Bitcoin trading cryptocurrency exchange predicted in March thatBitcoin will touch $10,000 before the end of 2019. However, to him the bull rally was to commence in the fourth quarter of the year:
The 2019 chop will be intense, but the markets will claw back to $10,000. That is a very significant psychological barrier.  $20,000 is the ultimate recovery. However, it took 11 months from $1,000 to $10,000, but less than one month from $10,000 to $20,000 back to $10,000.
As bitcoin price continues to fluctuate narrowly within the tens of thousand dollars region, experts are continually coming up with research-based price speculations. This time,Joey Krugof Pantera Capital is very bullish about bitcoin and insists a $42,000 before the end of the year is a good shot!.Explaining his methods beyond the usual technical analysis (TA) we are used to, Joey and Morehead used a series of persistent and repetitive price actions to land at a $300,000 per bitcoin price speculation within the next 3 years.
The 4-hour chart for BTC/USD trading pair shows an asset that has spent most of the past five months of 2019 hunting for higher levels. April and May have been the most successful months so far with Bitcoin more than doubling its value in the sixty days. The journey to highs marginally above $9,000 has not been without up and downs. However, the resilience Bitcoin has been showing continues to prove to the investors that we are in the middle of a bull rally.
On breaking $9,000 level, Bitcoin formed a high at $9,086.93 (on Coinbase). The price reversed the trend downwards where it was unstoppable at $8,500 support. The price dipped below the 50 exponential moving average (EMA). Further declines broke the ascending trend support before finding support at the EMA100 close to $8,000.
A reversal from the vital support stepped above $8,500 but the upside was limited under $8,600. The MACD having retreated back into the positive zone shows that the bulls are gaining strength. Defending the EMA100 support meant that BTC had the potential to correct higher. However, the formation of a rising wedge pattern means that traders should be on the lookout for pullbacks. Correction above $9,000 will allow the buyers to focus on $10,000 in the medium-term.
Looking at the daily chart, we see Bitcoin having formed a double-top pattern after breaking above the $8,500 level. Which explains why a correction above $9,000 was unsustainable. Fortunately, support has been established at $8,000 but the traders are cautioned to be aware that volatility is still high and frequent dips are expected. Other key support areas include $7,000, $6,000 and even $5,000. On the brighter side, Bitcoin is still in a bullish mode with the MACD being almost horizontal at +589.49. Therefore, we can expect higher retracements while defending key support levels in the short-term.
Most Bitcoin enthusiasts and optimists would agree that Bitcoin has a brighter future in the worlds economy. Just after a decade of existence, the cryptocurrency industry has given various governments and central banks sleepless nights. Some likeChinaandIndiahave decided to choose the high road ban the digital assets altogether while countries likeJapanMalta, andSwitzerlandhave decided to embrace the new asset class and make good out of it.
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Currently, there is excitement regarding the rally in April and May. Most investors are looking forward to BTC trading above $10,000 and inching closer to its all-time high. Meanwhile, mainstream adoption is on the rise with Bitcoin ATMs increasing in number worldwide. Institutional investors are reported to be buying more Bitcoin while leading banks and technology firms are planning to get involved with the crypto industry in one way or the other. Therefore, the future of Bitcoin is bright especially for those looking at the bigger picture.
Bitcoin is currently valued at $8,510 (June 1, 2019)
Considering the above price analysis, BTC will stay above $8,000 with the upside limited at $10,000.
Bitcoin more than doubled in price in the first quarter of 2019. It is predicted to extend the gains to $20,000 by December 31, 2019. With this in mind, Bitcoin is a recommended investment. However, it is vital to do more research before committing your money to any investment.
Will Bitcoins value fall or rise in the near future?
Bitcoin plunged to lows just above $3,100 last year from highs close to $20,000. We have seen it recover above $9,000. Experts say that BTC has found a bottom and predictions point towards growth. Bitcoin is likely to grow in the near future, however, be prepared for up and down movements.
Bitcoin is likely to trade between $20,000 and $30,000 in 2020.
Bitcoin will cost you more than $50,000 in 2025.
Bitcoin can be purchased on most of the cryptocurrency exchanges and Bitcoin ATMs near you.
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Bitcoin Price Prediction and Forecast for 2019/2020/2025: Bitcoin has the potential to beat its all-time high (ATH) marginally below $20,000 by the end of 2019.
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