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!