A “panel of experts” questioned by Finder.com.au believes that ₿itcoin (BTC) may end the year at price levels 84 percent above what they currently are sitting at.
The first and foremost cryptocurrency is currently trading at $3373.13 on Bitstamp at the time of this writing. 84 percent of ₿itcoin’s current price is $2833.43, meaning an increase of the same percentage would equate to a year-end price of approximately $6206.56.
Digital Capital Management’s CEO, Ben Ritchie, submitted the highest predicted price by guessing ₿itcoin would finish 2019 at $9500.
Ritchie’s guess stems from a belief that ₿itcoin will remove itself from the rest of the cryptocurrency market while institutional investors slowly start making use of high-quality onramps from the likes of Bakkt and Fidelity Group. He :
Two things to look out for in 2019 will be whether we will see decoupling of the cryptocurrencies, as to date they have trended in a relatively similar manner.
The second is the impact of the traditional markets on cryptocurrencies. Will ₿itcoin rise if the S&P drops? On-ramp and off-ramps to purchasing cryptocurrencies will improve in 2019 with Bakkt and Fidelity Group entering the market. However, I do not believe we will see many institutional investors enter for some time yet.
Ritchie’s prediction was above the average, however, of beneath $7000.
Catalysts: Bakkt and Fidelity
Bakkt indeed continues to make waves in the ₿itcoin-investment market, having of Rosenthal Collins Group (RCG), a longstanding independent futures commission merchant.
Likewise, Fidelity Digital Assets is reportedly planning on launching a ₿itcoin Custody Service as early as next month, which is expected to .
What do you think ₿itcoin’s price will be at the end of 2019? Will it be under $7000 — or reach $9,500, as Ritchie predicts? Let us know your year-end price predictions in the comments below!
Images courtesy of Shutterstock, CoinMarketCap.
Published at Wed, 06 Feb 2019 03:30:51 +0000
