Towards the end of 2017, Bitcoin (BTC), Ethereum, Ripple among other cryptocurrency were witnessing their highest gain ever. However, this year, the crypto market has fallen like never before.
For some days now, Bitcoin has dropped from around 6500 to 4200. As it stands now, some cryptocurrency experts are still optimistic that the value of Bitcoin will rise beyond expectations even before this year ends.
Despite the fact that the value of BTC falling below $5000 has created series of criticism from all ends, many analysts have predicted that BTC will touch the $20,000 mark any moment from now.
Bitcoin (BTC) To Stay Between $15000 and $20000 in 2019
One of those who believes the good days of Bitcoin (BTC) has not come is Bitpay CCO Sonny Singh.
In a conversation with Bloomberg, Sonny Singh, the Chief Commercial Officer of Bitpay, said the BTC has received many recognition and will find space in the commercial setting soon.
Singh spoke about the launch of Bakkt and Fidelity in 2019, claiming that the moment these services are launched in 2019, the value of Bitcoin will rise.
He said Bitcoin is that expected “800-pound gorilla” in the digital currency space. He said the ICO world is dead, but some of them will survive, adding that none of the ICOs will survive if Bitcoin does not.
Singh raised the opinion that 2019 will be a deciding year for cryptocurrency, saying the value of Bitcoin will be around $15,000 to $20,000 when traditional incumbents finally gets to the industry.
He also commented on the statement made by the CEO of Chase back in September where he said Bitcoin is a fraud that will blow up.
Singh condemned the comment saying BTC is anything but a fraud, backing his statement up with the expectation of Bakkt and Fidelity that has the potential to up the crypto market.
“Next year will see new players and miners emerge in the industry. We will not see any rapid shift but by the end of Q1 or Q2, Bitcoin will emerge as a viable commodity.”
Tom Lee Stands On $15000 Bitcoin price.
Fundstrat’s CEO, Thomas Lee aka Tom Lee, has spoken on the sentiment on the cryptocurrency market.
In a conversation with CNBC, he said, “Markets around the world are fragile, and panic and sentiment are playing a disproportionate role right now, does this mean bitcoin is broken? No. The use case is still there, but in the short term, panics are panics.”
He said come what may, Bitcoin’s value will not change for bad. He said the recent bear market has resulted in panic, pointing that the recent price drop could be attributed to the Securities and Exchange Commission (SEC)’s investigations and actions on cryptocurrency projects.
Meanwhile, Lee has re-carved his statement on the price of Bitcoin. Now, his end of the year prediction for Bitcoin based on Fundstrat’s research is now $15,000.