A few years ago, much less people knew about cryptocurrency Bitcoin. After the abrupt take-off of the course, these digital coins started talking about a large part of the adult population of the planet. Soon, experienced and novice investors began to consider Bitcoin as an alternative investment, and someone managed to earn fabulous money. Now the situation is different - the course of this cryptocurrency has long lived up to the forecasts, but now the cue ball is not so good. The forecast of the Bitcoin exchange rate for 2019-2020, made 3-4 years ago, is somewhat more rosy than a later analysis of the price growth of this digital coin.
Earlier Forecasts on the Bitcoin Rate
After an unprecedented jump in the value of BTC at the end of 2017, many predicted a great future for this cryptocurrency. Forecasts of its use in investment portfolios and about what the price of BTC will be, excite the imagination of novice traders. Even people far from the crypto world thought about buying a small amount of Satoshi or even buying a whole Bitcoin.
At that time, the question of how much Bitcoin will cost in 2020 was more suited to the answer in the spirit of the fact that the price will become incredibly high, and it is simply difficult for ordinary people to imagine such an order of numbers. There was talk about 100 thousand dollars and even about half a million in American currency. The beginning of 2018 scared many investors, and a further depreciation demoralized even experienced crypto depositors.
During the year, BTC showed the unrealizability of the nearest forecasts that promise quick enrichment. At the same time, the popularity of other cryptocurrencies was growing, strengthening their position against the backdrop of the fall of Bitcoin itself. Only for many beginning investors, 2018 was a collapse of hopes and a period of considerable losses.
The real situation at the beginning of 2019
Throughout 2018, BTC holders had to wonder what would happen to Bitcoin and what to do with existing Satoshi. By the end of 2018, the Bitcoin exchange rate had become so modest that many investors suffered serious losses on the sale. The beginning of 2019 showed an extremely low cost of BTC, although forecasts for early January were in the amount of 12-15 thousand dollars. In reality, this digital coin did not even reach 4,000 US currency units.
At the same time, from the very beginning of the year, BTC has shown moderately sharp fluctuations in the exchange rate, now subsiding by 2-3%, then returning to its previous positions. In total, for December 2018-January 2019, bitcoin changed the total value by more than 20%. The December price for 1 BTC fluctuated around $ 3300, and by January rose above $ 3900.
Attention! Along with the fall in the value of BTC, the number of fraudulent schemes with offers for better bargains has increased. Experienced investors will not pay attention to them, but beginners risk being left completely without money if they use such an imaginary advantageous service.
In fact, BTC is now slowly translating, requires a perceptible transaction fee, is often hacked and has an absolutely unpredictable rate. On the other hand, China and Japan are interested in maintaining the dominance of this cryptocurrency, therefore, despite the hard fall in value, BTC is still the leader among all digital coins. Analysts, predicting what will happen to Bitcoin, often set people up for the course. Some of them say that the price of this cryptocurrency will again become incredibly high after only a few months.
Optimistic forecasts about the Bitcoin exchange rate for 2019-2020
The growth of bitcoin, which began in late 2018 and early 2019, aroused the hopes of desperate investors. The hasty sales of cryptocurrencies fell, which directly affected a further increase in the rate. Following this, analysts again began to put forward theories related to the relatively distant prospects of BTC. Among the various versions, there are surprisingly “generous” assumptions:
- Petron Anagnost, who organized the Crypto Solutions consulting company, predicts the exchange rate from $ 50,000 to $ 100,000 for 1 bitcoin in 2020.
- Fundstrat analyst Tom Lee, analyzing the long-term fluctuations in the exchange rate, expected in 2019 the price of BTC in the amount of $ 91 thousand, but later, according to the results of the first half of 2018, he adjusted the forecast to $ 20 000.
- The Bitcoinist forecast in the person of analyst Osato Avan-Nomayo suggests that, due to the peculiarities of receiving rewards during BTC mining, in 2020 the cost of 1 coin will reach $ 20,000.
- The representative of the Coinspeaker portal, Mr. Harriston, is confident in the good investment and consumer prospects of Bitcoin, so he expects in 2020 its value in the region of 30 thousand dollars.
The relatively famous and absurd ones include the forecast of the famous John McAfee, who promised to eat his male organ in 2017, if in 2020 the cost of BTC does not come close to a million dollars. A relatively restrained forecast is provided by the APE, an agency engaged in economic forecasts of various currencies, including digital ones. According to the analysts of this organization, in 2019 for one bitcoin they will give from 2500 to 5600 dollars. In the next 12 months the situation will be more unstable - the estimated minimum of the year is expected in February, when they will give 2165 dollars for 1 BTC, and the maximum price is predicted for November 2020, then the cost of bitcoin will exceed $ 7100. Probably such a forecast is quite real, although everything could be slightly worse.
Do not forget that with the existing shortcomings, BTC has the widest scope. The ability to acquire something real for this crypto can enhance the growth of bitcoin. Therefore, some people still continue to keep this currency in their investment portfolio.
The unexpected and long-term drop in the value of Bitcoin throughout 2018 pretty much frightened novice investors who were unable to qualitatively predict the behavior of the exchange rate for a long period. Some of these investors began to hastily sell existing Bitcoins, thereby leading to an even greater drop in prices. This made the prospects for cryptocurrency less promising, and the rate continued to fall, decreasing 10 times compared to the value shown at the end of 2017.
In addition, unpleasant news related to hacking exchanges trading BTC affected the price drop. This also affected the cryptocurrency rate. In addition, due to the lack of cryptocurrency security, Bitcoin is still a controversial investment tool, because such “money” can still depreciate not even in a matter of days, but in hours. Therefore, with relatively high confidence in BTC, not all developed countries have fully accepted this digital money.
Also, people are concerned about the ever-increasing duration of the translation and its cost. This also negatively affects the attitude to the cue ball, which leads to a slight loss of its relevance. Experienced investors are now increasingly using “points” of other types, providing high transaction speed, while at the same time having low cost. This may lead to the fact that the forecast of the Bitcoin exchange rate for 2019-2020, made earlier, will be completely incorrect, since large players will switch to other cryptocurrencies, sharply reducing the popularity of BTC. Together with this, the cue ball will begin to fall, which will finally throw off the coin from the leading position. And we are talking about falling prices to $ 1,000 and below.
Positive and negative forecasts agree on one thing - Bitcoin itself will not go anywhere. This cryptocurrency will be in use for a long time, and its price is not so important, because BTC will forever remain a pioneer in the world of digital money. Although some forecasts are so unbelievable that even those who do not have Satoshi and whole Bitcoins will look forward to 2020 to find out if the BTC rate has reached such significant values.