Bitcoin (BTC) Long-term Price Analysis: What To Expect In Following Years?
As 2018 approaches its final days, a lot of crypto traders and investors reflect on the crypto market, wondering whether or not there is any hope for it in the future. While the year has been dominated by the bearish trend, cryptocurrencies are still far from being dead. However, investors wish to know whether this will remain the case, or if the drop is expected to continue until cryptos reach zero.
The answer, as always, remains unclear. As nobody can know the future, nobody can tell anything with 100% certainty. However, bitcoin and the crypto market itself have been here long enough for experts to start noticing patterns in their behavior. Thanks to these patterns — as well as other aspects such as increased awareness of crypto, their popularity, and more — researchers are capable of forming educated guesses regarding the future of crypto in the next few years.
What will happen to bitcoin in the future?
Now bitcoin is actually doing better than previous days. This is true for a lot of coins, due to a small price surge that has started on December 17. The surge has affected most of the market, and while it is likely a short-term change, it is still quite impactful on the overall stance toward bitcoin these days.
At the time of writing, bitcoin's value was at $4,018.16, with a 6.96% increase in the last 24 hours. While it is still unknown what was the cause of the current surge, it is unlikely that it will lead to any real bull run, as some influential members of the crypto community have been suggesting.
Others, such as John McAfee and Mike Novogratz, were also quite bullish on BTC earlier in 2018, predicting higher prices than those witnessed in January 2018. However, the market has proven to be too unstable for their predictions to come to pass at this time.
However, through various methods of calculating the most likely possibility, researchers have deduced that the price of bitcoin may keep dropping until the end of 2018. The trend is expected to continue throughout 2019, with the real turnaround expected to come in 2020. During 2019, bitcoin is expected to reach its lowest point, which may range from $1648 to $2109. This is when the coin will start rising once again, this time with no drastic corrections.
Of course, it is entirely possible that these predictions may also be changed due to different events, such as the potential approval of Bitcoin ETFs, the launch of Bakkt exchange, and other impactful projects. However, if no such event triggers a bull run, then bitcoin is expected to slowly go from below $2000 to nearly $6000 per coin. The rise will likely continue in 2021, which is when the coin should hit $10,000, but also in $2022 when it will reach $15,000 per unit.
In other words, experts are predicting that 2019 will be the year when bitcoin's value will continue to decrease until the cycle is completed. Only then will the coin be able to once again start going up. However, it is a concern of numerous investors that bitcoin might fall to zero in 2019. While there are a lot of problems in its ecosystem that might damage the coin, it is highly unlikely that bitcoin will simply drop to zero without warning. The coin is still far from going mainstream, but it is, without a doubt, the most important currency in the crypto market right now.