He compared cryptocurrencies to the current bellwether companies like Microsoft as well as Apple. Initially, their stocks were also pretty volatile. However, as the companies develop their business model, the stocks not only rose but they become much more stable as well.
However, many of the investors are actually currently worried due to the high volatility in cryptocurrencies. According to him, however, long-term investors need not fear the volatility at all. Since they are here to stay for a longer period of time, they would have no problem at all in holding the cryptocurrencies for a longer period of time as well.
He further added that Bitcoin would reach as high as $ 50,000 this year. If indeed that happens, the current price of Bitcoin being around just $ 10,000, that would be a fivefold increase once again.
Whether the portfolio manager is right or wrong, only time would be able to tell. The truth is that currently, many of the investors are worried about putting new money into Bitcoin. Only once they are sure that the volatility would end and the Bitcoin resumes its uptrend you can be sure that most of the investors would actually get ready to invest in this cryptocurrency.
For now, however, most of the investors are keeping away from the cryptocurrency boom. Many of the investors are just holding their holdings patiently in order to find out whether the cryptocurrencies resume their uptrend or not. It is still too uncertain for most of the investors to take a call. On the other hand, institutions are increasing their presence in the cryptocurrencies pace as well which is sure to benefit the cryptocurrencies space and would add value and credibility to the cryptocurrencies in the future as well. This is one of the main reasons why it is not seeing further fall after creating a bottom few weeks back. Also, once the regulatory hurdles are sorted, you can be sure that the value of cryptocurrencies would again more.
Bitcoin Price Predictions 2019: How high can Bitcoin price go in 2019? Up to $1 million or down to $100? (In-Depth Analysis)
Bitcoin prices in 2019 had been marked by volatility which had made bitcoin price prediction in short-term a bit of a challenge, even for the experienced analysts.
History generally has a way of repeating itself but bitcoin has a lot of history which makes it an equal challenge predicting which history will be repeated. It takes more than a study of past trends to get predictions spot-on this time and so we ended this article by highlighting certain area expert analysts were looking at.
Analysts, enthusiast, and industry figures have very diverging opinions and bitcoin price predictions for both long and short-term. Optimism is still high in many quarters—reports of a new survey among British financials suggest a wide majority will buy more coins in hope of price resurgence later this year.
As we delve into who’s saying what and why, here’s a heads-up. Expect a lot more price fluctuations in the interim. It’s going to be a bumpy ride getting to wherever Bitcoin is headed by the year’s end.
Here are some old fashion Bitcoin expectations: