Predictions of Bitcoin Price to Sky-High by 2019

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.