Predictions of Bitcoin Price to Sky-High by 2019

May 15, 2018 at 14:57 // News
Author
Coin Idol
Bitcoin price to sky-high

Despite the negative statements from Bill Gates and Warren Buffett last week and recent Bitcoin price fall continue to state that Bitcoin price will soon be back above the psychological $10,000 mark for the first time since the month of March.

Robert Sluymer, managing director and technical strategist at Fundstrat Global Advisors said:

"The regulatory risk, the fundamental risk around what's happening with cryptos has hit a bottom and now we are in a state of general recovery."

Fundstrat Bitcoin Price 2019 Prediction

There is further achievable prediction by Fundstrat, an investment research firm that Bitcoin could soar as high as $64,000 in 2019.

Sam Doctor, head of data science research at Fundstrat said:

"We believe the current path of hash power growth supports a BTC price of about $36,000 by 2019 year end, with a $20,000 - $64,000 range. The primary net seller in our view are bitcoin miners and the rest are transactions between investors."

Fundstrat estimates the cash break-even price for the newer Antminer S9 model is $2,368 and $6,003 for the older Antminer S7. All these models are produced by Beijing-based Bitmain it was estimated that they had $3 billion to $4 billion in operating profits in 2017.

"The release of the next generation of rig hardware should trigger a new round of capex as well as hash power growth, which could accelerate if BTC price appreciates," Sam said.