Looking at the
current volatility and uncertainty of cryptocurrencies, crypto market
predictions can only give you a vague idea which digital coin can turn out to
be the big winner of your portfolio. However, these crypto speculations have
brought to the surface questions which seem to become favorites of the crypto analysts,
influencer, investors, and crypto news sites
to answer. These questions include:
Can Bitcoin hit the
$50,000 mark this year?
Will Bitcoin be worth
$1 million as predicted by John McAfee?
Will the crypto
market keep suffering through 2019?
Will the cryptocurrency
market valuation hit $1 trillion this year?
Popular crypto
analyst such as Fred Wilson of Union Square Ventures, Mati Greenspan, eToro
senior market analyst, Gabor Gurbacs, the digital asset strategist and director
at VanEck, etc. have different views on the crypto market while some influencers
like John McAfee and Bobby Lee encourage to invest in Bitcoin. Let’s have a
look at different crypto market predictions surfaced by various analysts and
influencers.
First and most
popular, influencers like John McAfee and Bobby Lee of the BTCC exchange have
predicted that Bitcoin will hit the $1 million dollar mark by the end of 2020.
However, looking at the current downfall of the crypto market, particularly Bitcoin
which has fallen by more than 85% in 2018, that swipe those predictions of McAfee
and Lee away. Though, Bitcoin still outperform most stocks, bonds, and MFs in
terms of returns over a period of several years.
Another popular
speculation hovering around the crypto sphere state that the total cryptocurrency
market valuation will hit $1 trillion this year. This statement is backed by
solid facts and data. Crypto market was worth $600 billion by the end of the
year 2016 and 2017 was the year when all major cryptocurrencies have seen their
all-time high adding $100+ billion to the total value of the market.
Ironically, the year 2018 was a bloodbath for the crypto market, losing
hundreds of billions of dollars. If a strong trend reversal will not occur, it
does not seem possible that the crypto market will hit $1 trillion by the end
of the year 2019.
Another
prediction claims that the crypto market will remain suffering throughout the
year 2019. Sadly, there are several solid proofs and data that validate the
above statements. The proofs are in forms of crypto scams, exchange security,
volatility and uncertainness in the market, and regulations and global
pressure. There are other questions that are still left following different
predictions.
Well, if not a
so-called analyst of the crypto market will answer these questions, time
certainly will!
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