Bitcoin (BTC) rate will reach $ 10,000 during 2019, analyst forecasts

The dynamics of Bitcoin since the beginning of the year, its April successes and a number of other factors make analysts think that 2019 will be a year of growth for Bitcoin (BTC) .

"Bear Market" is over

Optimist Tom Lee from Fundstrat Global Advisors says that the long bear market is now a thing of the past, market sentiment has changed significantly, and investors' appetite for Bitcoin has grown significantly.

In an interview with MarketWatch, Fundstrat chief analyst said that there was a positive willingness to take risks associated with bitcoins, and that investors tend to find some “basic” bitcoin volatility.

Taking into account such activity of investors, Lee also added that in 2019, Bitcoin will reach $ 10,000, although he did not specify when exactly this will happen. Not so long ago, he also said that, given the costs of mining , the "fair value" of Bitcoin should be about $ 14,000.

In general, Fundstrat analysts believe that fundamental market forces have shifted in a positive direction, forming a “tailwind”, which in 2019 will push the price of bitcoin higher. At the time of the preparation of this post, the bitcoin rate was $ 5190 (+ 2.31%).

Terrible monetary policy will help to recognize bitcoins

Naim Aslam of Think Markets says that in general, the current monetary policy of central banks around the world is unsustainable:

“It seems like monetary policy has become a laughing stock. All she does is an aggravated buyout of assets and inflation of prices on them, while there are many questions about how independent the Fed is; as we see, they have no options, and people will turn to digital assets. ”

#ECB will consider if negative rates need #Draghi says amp # stimulus needed #Euro is plunging pic.twitter.com/Mqp00TqzCk

– Naeem Aslam (@ NaeemAslam23) April 10, 2019

“The European Central Bank will consider the need to mitigate negative rates; Mario Draghi says that a sufficient level of incentives is needed as the euro falls. ”

Travis Kling from Ikigai Asset Management recently called the central bank policy "politicized."

It seems that now such an irresponsible monetary policy is already inclining more and more people to use Bitcoins as a hedging tool.

Ignorance as the last obstacle

Although some commentators agree that Bitcoin will grow in 2019, there are still important issues that hold back widespread acceptance of cryptocurrencies .

Travis Cher from a well-known investment company Digital Currency Group believes that people need to bring a lot of knowledge so that they can evaluate cryptocurrencies.

For example, a survey conducted by the All-Russian Public Opinion Research Center (VTsIOM) showed that only 9% of Russians are familiar with cryptocurrency technology.

Scher said that much depends on the issues of education, and the average person knows little about the technology of the blockchain , although all this is very similar to the development of stocks or the Internet in the late 90s.

Publication date 15/04/2019
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