If 2018 taught us anything, it’s that expert Bitcoin price predictions should be taken with a grain of salt.
Very few people predicted the plunge to near US$3,000. In fact, most expert predictions were a long way off.
However, if you’re a Bitcoin trader or investor, it pays to at least listen to what the experts are thinking. And you never know, this year they might just get it right!
Expert Bitcoin Price Predictions in December 2018
Before we get to the predictions for the end of 2019, let’s look at who was closest for the month of December 2018.
Along with crypto exchange founder Miko Matsumara, he predicted Bitcoin would be valued at US$4,000 by January 1, 2019.
They didn’t pick it exactly right, but they were within $156.
Expert Bitcoin Price Predictions for February 1, 2019
So what about this month?
Well, the panelists on Finder.com.au have some varying opinions. Let’s take a look:
- Trader Cobb: US$4,000.
- Jimmy Song (Blockchain Capital): US$2,103.
- Fred Schebesta (Finder and Hiveex.com): US$2,160
- Ben Ritchie (Digital Capital Management: US$4800
- Joe Raczynski (joetechnologist.com): US$3,500
- Alisa Gus (WISHKNISH): US$4,400
Expert Bitcoin Price Predictions for end of 2019
The longer term outlook is a little more positive, with all of the experts expecting Bitcoin to be worth more at the end of the year than at the end of the month:
- Jimmy Song: US$6,473
- Fred Schebesta: US$2,760
- Ben Ritchie: US$9,500
- Joe Raczynski: US$8,000
- Alisa Gus: US$8,000
Digital Capital Management’s Ben Ritchie believes we reached capitulation in the markets in 2018, but questions remain.
“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,” Mr Ritchie told Finder.
“The second is the impact of the traditional markets on cryptocurrencies. Will Bitcoin 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.”
Craig Cobb says it is a difficult time to be pulling out the crystal ball and trying to predict any price movements.
“Hard to call right now, with weekly looking bearish and the daily just sliding sideways” Mr Cobb said.
“January will likely be interest, yet slightly slow.”
Joe Raczynski from joetechnologist.com believes we are entering a new period for Bitcoin.
“Many of the institutional players have said they are done with this experiment, which may be the case,” Mr Raczynski said.
“I think privately, some other hedge funds and other institutions will continue to invest during this lower period.
“However, I do believe this is temporary. If there are any dramatic shifts with the economy (the expectation is slightly more likely than not), Bitcoin will be a safe haven.
“I feel like the economy will begin to change in 2019. And this will, in part, help BTC grow.”
Jimmy Song, a well known Bitcoin educator, told Finder it’s all a guessing game.
“They’re more or less random numbers. Hard to predict without knowing what news comes out between now and then,” Mr Song said.
The ultimate verdict…
After interviewing 11 panellists, Finder arrived at a number of final predictions. Here they are:
Price prediction on 1 Feb, 2019: US$3,494
Price Prediction on 31 Dec, 2019: US$6,947
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