It is evident that the cryptocurrency market has recorded considerable growth so far just as some experts predicted. This article will review the status of some of these predictions and how they stand in the 1st quarter of the year.

Co-Founder of Union Square Venture’s Prediction

Out of the many predictions that were announced at the dawn of 2019, the one forecasted by the CEO of Union Square Ventures, Fred Wilson appears to be among the few predictions that are coming to life. Wilson predicted that there would be bullish run in 2019, but selling pressure would possibly drive the price a bit low. “I think this bottoming out process will end sometime in 2019 and we will slowly enter a new bullish phase in crypto,” he said.

According to him, the reason for this market growth would be due to the fulfillment of promises made in 2017. Wilson explained that the emergence of different smart contract platforms would challenge Ethereum which would do a lot of good to the cryptocurrency market. As it stands, the prediction is coming to pass as the cryptocurrency market has recorded significant growth since the beginning of the year.

Ben Ritchie of Digital Capital Management’s Prediction

According to Ritchie of Digital Capital Management, the cryptocurrency market would decouple and end the year with a significant increase in market capitalization. In his prediction, Bitcoin would finish the year at $9500. He also pointed out that two crucial things are supposed to be monitored; the decoupling of the cryptocurrency market in 2019 and the impact of the traditional market on Bitcoin or cryptocurrency.

This raises a serious question on the possible direction of the Bitcoin price with the rise or fall of the price of S&P. As at today since the day Ritchie made the prediction, Bitcoin has shown to be decoupling and rising steadily to the top.

Sonny Singh’s Prediction

Sonny Singh is the current Chief Commercial Officer of Bitpay, Inc. According to him, the cryptocurrency market will experience a dramatic comeback with Bitcoin leading the way. Singh predicted that Bitcoin would round up the year with a market price ranging from $15,000 to $20,000.

Being aware of the unfavorable government regulations imposed on the operation of cryptocurrencies, he explained that there would be a different factor that will act as a catalyst for the cryptocurrency comeback. He stated that there would be the involvement of financial companies in the cryptocurrency market which would cause the price to rise.

Though Bitcoin and cryptocurrency market has experienced a historical bearish run, it is essential to understand that it would not last forever. Those who exercise patience and invest for the long term would prevail in the end.

What’s Your Thought On This ?, Let Us Know In the Comment section Below.

Source link

Load More By elspoka
Load More In CryptoCurrency

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Check Also

Google uses receipts sent to Gmail to log online purchases

Cutting corners: CNBC has discovered that every Gmail account has a purchases record attac…