Chief Commercial Officer (COO) of cryptocurrency payment processor BitPay decided to have fun in the market forecasting (this is also a fashionable occupation during this period). Sonny Singh thinks Bitcoin (BTC) will cost between $ 15,000 to $ 20,000 by the end of 2019. He presented his forecast during the interview with Bloomberg.
Bitcoin falls. It’s a fact. Some, however, it does not discourage. Singh admitted that he is expecting another boom in 2019, when major financial sector giants such as the Intercontinental Exchange (ICE) will enter the cryptocurrency market.
The entrance of giants of the world of finance in bitcoin may take place next year. What can the effects be? It is not difficult to imagine then that the price of the main cryptocurrency will reach USD 15,000 – 20,000. At least that’s what Singh thinks. And it’s hard to disagree.
COO BitPay predicts that next year we will also have another “exciting” moment: launching ETFs.
ICO – to the sand!
Singh, however, remarked that Bitcoin is waiting for a bright future, but the issue is tokens and altcoins. Here it will not be so colorful (and more specifically – green)!
He points out that there is a difference “between bitcoin and everything else”. Bitcoin “gives a network effect”, but it’s hard to say what will happen to the ICO market, which – again in his opinion! – “he is already quite dead”. Singh also suggested that signs of increased intervention by the US Securities and Exchange Commission (SEC) do not bode well for the future of the tokens market
In an interview in September this year, Singh has already made similar arguments about the fact that cryptocurrency markets are on the verge of a “decisive moment” that will come with large institutional investors entering the market.