In 2018, the price of bitcoin dropped by over 73 percent, which has spooked many new bitcoin investors. The recent crash, however, is nothing new to people who have been following bitcoin since the early years as bitcoin has always gone through peaks and troughs.
If you are looking for some reassurance that your bitcoin investment is not a waste of time and money, we have compiled a list of bitcoin price predictions from some of the most prominent figures in the bitcoin community that will probably make you want to buy (more) bitcoin in 2019.
Sonny Singh: Bitcoin Will Not Go Below $15,000 by the End of 2019
Sonny Singh, the Chief Commercial Officer (COO) of BitPay, a global crypto payment processor, said during an interview last year that bitcoin could hit between $15,000 to $20,000 by the end of 2019.
During the interview with Bloomberg in November, he explained that the next bull run could come when mainstream financial sector giants such as Fidelity and Intercontinental Exchange (ICE) launch their crypto-based investment products in 2019.
Fidelity Digital Asset Services (FDAS) and the Intercontinental Exchange’s Bakkt project are both due to launch to the public later this year. FDAS has already taken on a select set of institutional clients while it continues testing and development to cater to a lot more institutional investors in the near future.
Zhao Dong: Bitcoin Might Reach $50,000 by 2021
One of China’s biggest OTC traders, Zhao Dong, said last year that everyone should try to have a good winter in 2019, predicting that the bull run would only come around again in 2021.
“Perhaps bitcoin price will continue to drop even lower, and it may fall up to 50 percent. But it is still worth steadily acquiring coins every time it hits a new low. You possibly see a yield of 100 to 200 percent in 3 years,” Zhao Dong said on Weibo, one of the most popular social media platforms in China.
Tim Draper: Bitcoin Will Eventually Strike the $250,000 Mark in 2022
Billionaire venture capitalist Tim Draper is one of bitcoin’s biggest influencers. He had bought 40,000 bitcoin in 2014 when it was worth only $6.32.
In an interview with TheStreet, Draper stuck to his earlier prediction that bitcoin will eventually strike the $250,000 mark in the year 2022, and its potential to change how governments do business.
“This is going to be so big so if you see a dip, jump in. Maybe it will dip further but boy, I made that prediction, and I’m sticking to it. $250,000 by 2022 for bitcoin,” he said.
Bobby Lee: Bitcoin Could Reach $333,000 in 2021
Bobby Lee, the co-founder of BTCC, a Hong Kong-based crypto exchange, expressed optimistic hypothetical scenarios in a tweet storm last year. He compared the present bear market to 2013 when bitcoin fell from an all-time high of $1,200 in December 2013 to just $150 in January 2015 – an 87 percent decline in 13 months.
“If history repeats perfectly, then the current bear market for #Bitcoin would bottom out at $2,500 next month, in Jan 2019. And then the next rally would start in late 2020, peak out in Dec 2021 at $333,000, and then crash back down to $41,000 in Jan 2023,” tweeted Bobby Lee.
Bobby Lee’s bull run prediction coincides with the next bitcoin halving when the block reward drops to 6.25 BTC per block in 2020.
Cameron Winklevoss: There is Potential for a 30 to 40 Times Price Appreciation
Cameron Winklevoss – one-half of the famous Winklevoss twins credited as the first set of bitcoin billionaire in the world – told CNBC in 2018 that bitcoin could be worth 40 times its value one day. One bitcoin was worth $8,400 at the time of the interview.
“So if you look at a $100 billion market cap today, now last week it might have been more like 200, so it’s actually a buying opportunity, we think that there’s a potential appreciation of 30 to 40 times because you look at the gold market today, it’s a $7 trillion market,” Cameron said.
The 40 times price appreciation means bitcoin’s value could reach $4 trillion. He did not give a timeline but mentioned they were taking a 10-to-20-year view.
Naeem Aslam: Bitcoin Could Reach As Much As $400,000
ThinkMarkets’ Chief Market Analyst, Naeem Aslam, said in a research report that “there is a high chance that the next bull run has a minimum potential of pushing the price 5 times higher. That is over $100K. I […] believe that each Bitcoin can go up as much as $400K and if history repeats itself, this number is not a fool’s paradise.”
Aslam bases his bitcoin price prediction on several technicals that he highlights in his report, including the fact that the price of bitcoin dropped less during the “crypto winter” in 2018 than it did during its prior market crashes in 2013 and 2011.
John McAfee: Bitcoin Will Hit $1 Million by 2020
The founder of the popular McAfee anti-virus software is an ardent crypto fan. He predicted that the price of bitcoin would hit $1 million by 2020. In 2016, he had also predicted that bitcoin’s price would reach $5000 in 2017, which it did and then surpassed to reach $20,000 in December 2017.
The eccentric technology entrepreneur told CoinTelegraph in an interview: “The true value [of bitcoin] is going to eventually be based on usage. And if you track the usage curve, a million dollars by the end of 2020 is conservative.”
If you want to make your first bitcoin investment or want to add to your existing bitcoin holdings, check out our guide to the best bitcoin trading platforms and bitcoin trading apps that you can use to buy bitcoin in 2019.
*Disclaimer: This is not investment advice. Investing in digital currencies carries a substantial amount of risk. Never invest more than you can afford to lose.*