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Bitcoin Price Prediction: Today’s Situation

02/18/2019
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Just about a month ago, on 31st of October 2018 Bitcoin celebrated the 10-year anniversary of its existence. For most people, the word "cryptocurrency" has been some kind of abstract idea, that kind of money that would never be able to transform any part of the financial ecosystem of the future. However, everything has changed in the last two years. Users found the opportunity to create speculations and make investments. Analysts gave Bitcoin price prediction for a million dollars. The media was full of articles dedicated to the mysterious blockchain technology. To sum it up a bit, we are going to talk about the current BTC projections and forecasts for other e-currencies. What can be expected of the crypto world in just ten years? Is it possible that BTC would cost a million dollars?

As of today, November 2018, the most popular digital currency in the world is going through hard times. Bitcoin has hit a new low and collapsed over the past days even more intensely – now it costs less than $4,000 per coin. To compare the present situation with the period of November 2017, it turns out that nowadays Bitcoin is at its lowest annual rate. Thus, the experts are wondering whether BTC can fall even lower, or there is a limit to everything in the crypto industry?

What is the main problem? What makes Bitcoin to continue its free fall? No matter how many answers to this question are provided by the leading analysts, no one is quite sure how to predict bitcoin price, since BTC itself is not supported by anything. However, let’s try to build at least an assumption and understand what to expect from the most known digital currency in the world, and what it will cost in the foreseeable future.

So why is Bitcoin price still getting lower? Crypto specialists assume that the most obvious explanation lies in the attempts to regulate its course artificially. Both investors and companies are facing significant losses. The organizations supplying “mining” equipment (for the extraction of bitcoins) to everyone suffer even more. If until recently, the acclaimed Nvidia Corporation perfectly kept afloat, then in a short time the company lost half of its value.

Meanwhile, specialists believe that it is too early to talk about BTC taking a dirt nap. However, if such popular cryptocurrency as Bitcoin falls to the value of three thousand dollars and lower, it will be logical to talk about the “sunset” of BTC and the so-called “Bitcoin burst bubble.” Only those who managed to cash in on the most common cryptocurrency at the time when it was trading for twenty or ten thousand dollars could be considered winners in this situation. Yet, some users wonder: “Is bitcoin still going up?”

Bitcoin Projections of the Recent Years

As you can see, it is possible that numerous digital assets can substantially fall in price and then lost all its value resulting in catastrophic investors’ losses.

Nonetheless, the overall Bitcoin value prediction is not that pessimistic. Bitcoin is different from other assets in that it always goes through even more considerable growth after a substantial drop in its value. Besides, over the 10-year history of BTC existence, there were not that many cases when its cost fell by more than 40%.

Thus, in the period from June to November 2011, the value of bitcoin collapsed by 94%, with the cost of the digital coin dropping from 32 dollars to only 2 per one coin! Already at that time, many began to make BTC predictions about the forthcoming explosion of Bitcoin bubble, but what happened instead was by its exponential growth replacing BTC fall.

A year later, in June 2012, the price of bitcoin dropped once again from by 36%. After that, the most famous e-currency jumped up to 266 dollars. But already in April 2013, there was a severe decrease in the cost of the world’s leading currency – back then it would cost only 54 dollars. Hence, the prediction of bitcoin behavior may follow a specific pattern.

Guess what happened next? Bitcoin was not just able to restore its position; it also rose in price up to $1166. However, starting from November 2013 up until early 2015, its value collapsed again – back then you could purchase BTC for 170 dollars per coin. Another drop was waiting for this digital currency in September 2017, although at that time one BTC would cost $ 5,000!

When in late 2017 the value of bitcoin rose to almost $20,000, it seemed that this digital coin was able to conquer any new heights. However, it did not happen, and Bitcoin alongside with other leading e-currencies seriously declined in their value. In turn, it complicates making any price predictions of the future cost of existing crypto money.

Actual Cost of Bitcoin (Late November 2018)

Hence, what’s the current price of bitcoin?

Satoshi Nakamoto’s digital currency has recently lost 15% of its value during a single day (November 25, 2018). Today, Bitcoin is worth $ 3947.21 per coin, yet many market experts are already giving bitcoin value forecasts, talking about solid growth in its cost. In addition, none of the large investors who understand the phenomenon of the rise and fall in the price of BTC does talk about the total collapse of the crypto market. They have also discovered the existing pattern: a serious drop in the Bitcoin value is always followed by even greater growth. The only question is when exactly this will happen.

Crypto Predictions: Digital Currencies that Are Worth Paying Attention to

As the use of cryptocurrencies expands day by day, various crypto predictions become more and more of a serious demand. The rating of e-currencies in 2019, with the forecast of their development, the peculiarities of their rates and other nuances are of concern not only for the experienced investors.

Probably, only someone living in the wilderness has not yet heard about digital money. At the same time, there are such e-currencies that even sophisticated users who perform transactions in BTC, ETH, etc. know little about. The legendary "first crypto coin," its forks, as well as Ethereum, Ripple or Litecoin, are widely spoken about. Despite them being highly popular, they are only the tip of the crypto iceberg consisting of hundreds of other less known and newly appearing types.

Before proceeding to talk about bitcoin predictions for today, let’s see what other coins are in demand. As of now, the top 10 most popular cryptocurrencies includes:

  1. Bitcoin;
  2. Ethereum;
  3. Ripple;
  4. Bitcoin Cash;
  5. Litecoin;
  6. Stellar Lumens;
  7. Tron;
  8. NEO;
  9. Monero;
  10. EOS.

Nevertheless, the cost of the best cryptocurrencies may be quite low. Ripple represents a good example here – it costs only a couple of dollars, while, let’s say, BCH rate is more than $1000. Interestingly enough, Litecoin, previously considered an especially perspective digital coin, now takes the 5th place of the current rating.

To address the subject of Litcoin predictions, the so-called “digital silver” (as the opposite to BTC being “digital gold”) was in the lead for a long time. After the emergence of Ethereum, Litecoin had to lose his advantageous position. Unfortunately, it was just the beginning. A realm of new kinds of e-currency began to push “digital silver” even further. Anyway, Litecoin still offers plentiful advantages. Yet, it is not a highly speculative tool, which means that LTC does not promise instant and enormous profits.

As for the Bitcoin Cash price prediction, it is seven times cheaper than its famous counterpart. Moreover, this side cryptocurrency has already begun to form new subspecies of Bitcoin. Besides that, it is crucial to remember that when hard forks are created coin owners obtain the same amount of coins of the new e-currency. This way, they gain a double profit: not only the prices increases, but the additional crypto coins appear in their possession.

In 2019, the experts recommend paying attention to blockchain projects, which were actively developed and applied in the previous two years.

BTC Predictions: 2020 and the Foreseeable Future

According to the vast number of crypto market analysts, it is potential that by 2020 one BTC will cost almost 28,000 dollars. The complication of the mining process, increased demand for Bitcoin and other no less important factors affect these crypto predictions.

Other specialists mention such figures as $100,000 per coin and even $250,000. It may seem crazy and too far-fetched at first, but who knows what exactly is going to happen in the nearest future. Wall Street analyst Tom Lee suggests that already in 2020 the most popular digital coin in the world will cost around twenty-five thousand dollars with the further potential growth up to fifty-five thousand.

Another successful crypto investor, Petros Anagnostou is convinced that by the end of 2020 Bitcoin value will show the price of $50,000 per coin. In his BTC price prediction, Anagnostou does not exclude the possibility of Satoshi Nakamoto’s e-currency raising to one hundred thousand dollars for one BTC.

Daniel Harrison, the head editor of the renowned resource CoinSpeaker, thinks that the price of Bitcoin will be $30,000 top. One more famous crypto-related person, investor and programmer John MacAfee assures users not to give up on Bitcoin in the nearest future. He also adds that those who invest in BTC purchase should expect a serious growth in its price by over 2000%. When the time comes, and the last Bitcoin is mined, the cost of one coin jump up to hundreds of millions of dollars. What an inspiring BTC predictions for today, right?

Overall Bitcoin Forecast

No one can doubt the entail of Bitcoin, but the constant appearance of the vast number of hard forks and the unpleasantly expanding transaction time makes it hard not to pay attention to other cryptos. Meanwhile, it is not entirely true that BTC will soon leave us once and for all. The fact that this very first digital coin has already become an official means of payment in some countries supports this opinion.

Bitcoin value predictions are primarily built on the high demand of this cryptocurrency. Besides, the sophisticated process of individual mining and the limited amount of existing coins only add to its ever-growing popularity, which in turn leads to the cost increase due to the speculative environment. On the other hand, Bitcoin being legalized implies the transactions will be no more private and secure.

What a controversial issue! Recognition of Bitcoin as a legal currency at the state level endows it with credibility, but at the same time deprives it of its essence – high level of anonymity.

Some crypto specialists say that if BTC transactions were so convenient and popular only because they were shady, its legalization would inevitably result in a severe drop in its demand. On the contrary, if the amount of such transactions is rather insignificant, the enhanced reliability of this digital currency will boost its popularity. In the means of BTC price predictions, such an event will unquestionably positively affect its rate.

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