Bitcoin: Better and Worse scenario for 2019/2020
The world of cryptocurrencies is a highly volatile investment level market and is already known by many, the gains and losses generated by this type of markets. However, as its popularity grows due to the greater use case, the forecasts on the main currencies of the crypto world also increase.
In this opportunity we will try without any type of connection for personal decisions of each reader in investments made in this market,foresee the best and worst scenarios for Bitcoin in the remainder of 2019 and for the coming year 2020.
The main cryptocurrency by stock market capitalization and the creator of all this new digital market, continues positioned in the number one position and with a lateral movement of prices around the $ 3500- $4000 that continues to mark the prolongation of the crypto winter.
There are several theories about the price forecast of the main reference, and it is not for less, since a change in its price, generates a collateral effect on the entire ecosystem due to its influence and domain that has just over 51%.
The best scenario for the end of 2019 points to a maximum of prices in the order of $ 5000 as one of the most moderate and $ 10500 by the end of 2020, without taking into account surrealist projections such as that of John McAfee that indicate expectations over the million of dollars for the cryptocurrency by the end of the year 2020.
The scenario of the five thousand we see it probable since it is based on the following arguments:
• One of the most important reasons for this is the introduction of Bitcoin futures. Many analysts believe that the entry into force of these investment vehicles will generate a stampede of institutional money to the ecosystem and, therefore, Bitcoin will lead the way in its deflationary policy. Cases like Bakkt and Nasdaq that offer investments in Bitcoin and other altcoins, is highly positive and ho peful for this scenario.
• Bitcoin presents its corrective cycle in the context of the second bull market with the subsequent bear market. Exactly the same happened during the first crypto winter of the year 2014, which ended in early 2015. Its 4-year chart has shown a cyclical possibility at the time of repeating a new bullish rally for after the next two years.
• Beginning of global slowdown of the economy for the period 2019/2020, will force an improvement in prices given the safe haven of value in Bitcoin for many investors in a moderate way.
Under this last scenario we ratified the short and medium term projection in the $ 3700- $ 4600 bands, as we announced in our last post a bout the king cryptocurrency.
For the rest of 2019, we expect a maximum (temporary) increase in support and resistance price bands between $ 3,000 and $ 6,000 given the lack of competition from other cryptocurrencies to displace Bitcoin’ smarket share.
In the worst scenario, it is expected that negative SEC decisions,improvements of other Blockchains to move Bitcoin from first place and / or improvements in the global economy, could indicate scenarios for their prices at the end of 2019 in the order of $ 2896 and by the end of 2020, prices of $ 3380 coinciding with the “Support Bands”.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.