Where to Invest: Cryptocurrency Market Forecast for 2019

Where to Invest: Cryptocurrency Market Forecast for 2019

The price of one Bitcoin was $4,000 in January of 2019, and it was traded at $8,280 at the end of May. The cost of the first cryptocurrency exceeded $10,000 in July. Together with Bitcoin, the exchange rate of altcoins started to grow. Litecoin grew in price by around 83% within 2.5 months and Binance Coin – by 140% within 3 months. Today cryptocurrency experts agree in their market forecasts that Bitcoin and other digital currencies will keep growing in price.

We have taken forecasts about changes in the exchange rate of the top six cryptocurrencies in 2019 from different sources. Read about developments in the markets of Bitcoin, Ethereum, Litecoin, XRP, Bitcoin Cash, and Binance Coin in the article below.

BitcoinBitcoin

The exchange rate on Binance on July 29: $9,611.

CEO of Pantera Capital investment fund Dan Morehead gave a long-term forecast for Bitcoin in Unchained podcast. He stated that the first cryptocurrency might increase in price by four times by the end of 2019.

Morehead believes that Bitcoin will reach the following levels in the next three years:

  • by the end of 2019 – $42,000;

  • by the end of 2020 – $122,000;

  • by the end of 2021 – $365,000.

Analyst of CoinDesk Omkar Godbole gave a short-term forecast. He thinks that the Bitcoin price will go down to $9,600 in the near future. For the ‘bullish’ trend (price increase) to come back to the market, its price should stay at $11,120. Upon reaching this figure, the price will start growing and will go up to $13,800.

The representative of Macro Risk Advisors John Kolovos noted in the interview for Bloomberg that Bitcoin price might reach $20,000 in the future. He says that now it is high time to invest in the cryptocurrency.

The Economy Forecast Agency calculated that Bitcoin price might strengthen its position at $14,390 by the end of the year. Analysts believe that the price will drop down to $8,927 in August, and will stay at $10,355 in September.

EthereumEthereum

The exchange rate on Binance on July 29: $212.

Analyst of NewsBTC Aayush Jindal says that after surpassing the marks of $210 and $215, ETH should grow to $228 for the price to keep growing further. The specialist supposes that the price will start growing more slowly when ETH reaches the point of $236. However, one can expect such figures only if the price stays above $218.

The cryptocurrency analyst, known on Twitter as BenjaminBlunts, thinks that the altcoin price will surge up to $1,000 by the end of the year. If the forecast comes true, the coin will show 270% growth in 6 months.

LitecoinLitecoin

The exchange rate on Binance on July 29: $90.6.

In 2019, Litecoin grew in price by 357% against the US dollar. Cryptocurrency experts believe that the growth can be explained with the upcoming halving when the reward per block is reduced by two times. It is expected to happen on August 6 approximately.

According to data of Forklog analysts, the following things may happen before and after Litecoin halving:

the cryptocurrency price will keep growing. Due to this, mining profitability will increase;

hash rate growth will speed up, which can negatively influence the mining profitability of the crypto asset. However, it will reduce the probability of Attack 51%;

Litecoin price will either grow or decline.

XRPXRP

The exchange rate on Binance on July 29: $0.31.

From April to June, the sale volume of XRP increased by 48% and reached $251.5 million. Exchanges bought tokens worth of $144.7 million, and institutional investors – $106.9 million. Analysts of еCrypto forecast that if the company keeps engaging more banks and a breakthrough from the side of financial institutions takes place in relation to the system, the price of XRP may reach $5 to $7 this year.

According to forecasts of Cryptoalien analytic platform, the price of XRP will stay at $0.741 this December. The total growth rate will make 96.45%.

Bitcoin CashBitcoin Cash

The exchange rate on Binance on July 29: $309.36.

Co-founder of EXMO exchange Edward Bark told RBC that for the growth of Bitcoin Cash price a benchmark event should take place that would give the cryptocurrency a new meaning and increase its cost. At the same time, the specialist does not deny that ВСН may grow in price.

Cryptoalien forecasts that ВСН price will reach $634.9 by the end of the year. The growth rate will be 61.04%.

The Economy Forecast Agency notes that Bitcoin Cash will stay at $522 by the end of 2019. And it will surpass the $400 mark only in November. From July to October, the price will range from $294 to $396.

Binance CoinBinance Coin

The exchange rate on Binance on July 29: $27.45.

In 2018, the year that brought a crisis to most of the cryptocurrencies, BNB did not go down to critical values. Since the beginning of 2019, its price has been growing steadily. Whereas it cost $4.66 in December, it reached $39.4 in June.

Cryptocurrency experts believe that BNB will be gradually going up in price and will make $20 to $25 by the end of the year. Cryptoalien notes that the altcoin price can reach $35.8. The total growth rate will be 50.12%.

Analysts think that the price of BNB will be influenced by the cryptocurrency policy of China and the success of the exchange.

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