Analyst: Bitcoin (BTC) Will Boom In A Year
What better way to start 2019 with some Bitcoin (BTC) predictions… eh?
Speaking with the Evening Standard U.K., Clem Chambers, the founder of ADVFN and a Forbes contributor/finance journalist and analyst, has claimed that Bitcoin is poised to run in the near future. More specifically, he told the outlet that during next year, 2020, he expects for BTC to “boom again,” especially as blockchain technologies and cryptocurrencies establish themselves as game-changing technologies. He explained that eventually, the aforementioned innovations will “define the next 25 years in the same way as online/dotcom has defined the last 25.”
Chambers went on to compare Bitcoin to the “tip of the spear and the tip of the iceberg,” adding that in both cases, you want to be on the right end of these proverbial objects, as “you don’t want to have the wrong positioning as it emerges.”
Interestingly, his call for a run next year lines up with predictions from other analysts. Filb Filb, a long-term BTC permabull and prominent Twitter analyst, revealed that according to historical market trends and cycles, BTC could floor anywhere between $2,500 and $3,100 from now until early-2020. And, once the asset bottom, Filb noted that he expects for the asset to go on another parabolic run, presumably on the back of the next block halving.
Murad Mahmudov echoed this timeline. In a recent interview with Tone Vays, he claimed that the flagship cryptocurrency will breach its late-2017 all-time high by late 2020. Vays, an altcoin skeptic as covered by Ethereum World News previously, somewhat agreed with this sentiment, claiming that he’s 50% sure BTC establish a new high in the coming year or so.
Crypto Is “Here To Stay”
Stephen Morrison, a crypto journalist, also expressed his bullish outlook on cryptocurrencies to The Standard. He explained that cryptocurrencies are “here to stay,” echoing sentiment from countless other diehards and zealots.
Morrison noted that while he should’ve cashed out in January, when cryptocurrency prices were peaking, he’s still poised to invest his money and time in Bitcoin and blockchain technologies again. Explaining why he’s optimistic, the crypto-centric reporter noted that there are projects in this ecosystem that will make “many financial transactions, faster, fairer, and less expensive” — crypto’s underlying modus operandi.
Still, he addressed the topic with a tinge of skepticism, noting that these innovations inherently have faults. Yet, he explained that as the topic continues to foray into mainstream media, stores, and movies/pop culture, and as major financial institutions try to spark global adoption, cryptocurrencies will be put in a good position for the future.
Title Image Courtesy of Marco Verch Via Unsplash