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How high will the Bitcoin price go by the end of 2019

Date:2024-07-29 19:05:25 Channel:Wallet Read:


The four most famous international exchanges:

Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
Binance International Line OKX International Line Gate.io International Line Huobi International Line
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.


How high will Bitcoin price recover to by the end of 2019? Todd Gordon, founder of TradingAnalysis.com, predicted that Bitcoin (BTC) will fall to $4,000 before rebounding to $10,000 in 2019 in a June 22 CNBC Stock Draft.

Gordon suggested that BTC will fall below $5,000 before reaching $10,000 by the end of the year, citing the large market volatility as the main reason. When asked to explain his estimate, Gordon cited a "beautiful uptrend" and called the recent correction down from $19,000 "insignificant" given the BTC price increase since 2015.

The current high-low range averages 17%, which is one of the lowest BTC has ever seen, the analyst said. "There have been times when weekly profits have been 20%, 30%, 40%, so if I'm down 30% on Bitcoin right now, that's nothing, I can make that up in two weeks," he continued.

Gorgon believes that the cryptocurrency market is "very technically driven," so it is possible to recover some losses in the near future based on the technicals and market sentiment.

Gordon's website TradingAnalysis.com provides market analysis and trading strategies. Gordon has also made predictions for other markets, including commodities such as crude oil. In November 2015, when crude oil was at $41, he predicted a price drop of nearly 50% to $26. In February of the following year, crude oil was trading at $26.05.

Back in June, stock analysis firm Trefis
estimated BTC's year-end price at $12,500, $2,500 lower than its initial forecast. Trefis' BTC forecast analysis is based on supply and demand fundamentals, where demand is the number of users and transaction volume, and supply is the number of available BTC.

Last month, Wall Street analyst Spencer Bogart
said that the main cryptocurrency will be "at least" over $10,000 by the end of the year. He believes that the reality of deeper institutionalization of the crypto space is to ensure the long-term "story" and is "overall positive" for the future of Bitcoin.

Many people in the cryptocurrency circle want to find a way to predict the price of Bitcoin. Some people believe that Bitcoin should be worth at least as much as the value of gold in the world. Some people rely on calculating scenarios, such as how much Bitcoin needs to be worth if it can cover cross-border transfers. Some people look back at historical trends to speculate, and now there are new predictions based on mathematical laws.

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