The Forecast of Bloomberg Analysts: Bitcoin Rate Will Drop to $1 500

Bloomberg Intelligence analysts claim, that at the moment Bitcoin has not yet established the final anti-record, but only “continue to fall”.
According to their forecasts, the rate is expected to fall to $1 500, which is 70% less than the current rate – $5 140 (at this point).

As one of the reasons for the fall of the course, the  publication notes the hard fork Bitcoin Cash network. After it the largest scale collapse of the cryptocurrency rate occurred, which was the beginning of the “boring life for Bitcoin” and inspired several industry experts to make forecasts.

Travis Kling, founder of the hedge fund Ikigai, made an assumption, that in the future BCH hard fork will no longer affect the market:  

“There’s a small chance that, it’s difficult to estimate, that something really bad could happen related to Bitcoin Cash that could then impact the entire crypto market.”

Bloomberg Intelligence analyst Mike McGlone gave a forecast for two versions of Bitcoin Cash, namely that because of them the investments of depositors and miners will continue to provoke a way out of rates to increase and further decline in market quotations.

The president and the main investment specialist of Creative Planning, Peter Mallouk, drew the attention of the crypto community to the financial result of the III quarter of  the GPU manufacturer – NVIDIA. Mining products of the company are losing its relevance, which is according to the analysts, signals about the deterioration of the whole cryptocurrency market in general.     


“The drop in the stock price of Nvidia is reflective of a future where cryptocurrency fueled demand has cratered,” said Peter Mallouk, president and co-chief investment officer of Creative Planning, in an email. “While this is, of course, bad news for NVIDIA, it is really the canary in the coal mine for Bitcoin and other cryptocurrencies.”

We want to remind you, that the founder of Fundstrat Global Advisor, Tom Lee, is optimistic about the future of the world’s first cryptocurrency. At the beginning of the year, he made a prediction, in which Bitcoin will reach the $25 000 by December. However, in July Tom made an adjustments , changing the estimate rate by $22 000. Early in November, the forecast was changed again to $15 000. Eventually,  BTC should grow by more than 170% in a short term.

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Cryptocurrency Prices Today, March 18: Bitcoin Became Entrenched At $4000

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency Rate

According to the Coin360 online platform, Bitcoin (BTC) remains stable over the past 24 hours and added 0.69%. The price at the time of writing is $3988 per coin.

Cryptocurrencies have changed a lot in price:

Bitcoin Cash added 5.99%, Bitcoin SV lost 0.29%, the value of coins is $157 and $66, respectively;

Ripple grew by 1% and costs $0.31;

EOS decreased by 0.8% and its price is $3.71;

Litecoin fell by 2% and its price is $59;

Cardano dropped by 0.07% and its cost is $0.049;

Stellar added 0.2% and costs $0.10;

IOTA lost 1.8% and its cost is $0.29;

Dash increased by 2.8% and its price is $92;

Monero became cheaper by 1% and costs $51.

Over the past 24 hours, Ethereum has lost 0.5%. The rate of the coin is $136.

The total market capitalization is $139 billion. Bitcoin accounts for 50.8% of the total. In monetary terms, it is $70 billion.

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When Will Finally Growth Happen? Or Fresh Forecasts of Cryptocurrency Analysts

As we all remember, the 2018th year was far from the best in the history of Bitcoin as well as other cryptocurrencies. For the previous year, the first cryptocurrency slipped from $20,000 to $3,200. As of this writing, one BTC coin costs $3,940.

Perceptible revival in the cryptocurrency market has provoked another dose of optimistic statements from analysts. Let’s take a look at what professional traders and cryptocurrency market experts are saying about the immediate prospects for the Bitcoin rate.

Leah Wald

A professional trader, and in the past, World Bank economist Leah Wald, claims that the rate of the main cryptocurrency will fall to a critical level of $1,500, and only after that, new growth can begin, up to $6,500. But the user with the nickname Filb Filb doubts her prediction and claims that BTC has already “found its bottom” and now only the growth up to $6,000 and higher is waiting for us.

Leah Wald is confident in her forecast, so she decided to make a bet with her opponent – in case her prediction turns out to be wrong, she will have to transfer 1 Bitcoin to the user Filb Filb.

Cane IslandCrypto

An analyst from Texas, who is known on Twitter under the nickname Cane IslandCrypto recently published his own vision of the BTC price behavior in the coming years. So, he believes that a long and confident uptrend is waiting for us:

  • until the end of 2019, the BTC course will be $7,800;
  • in 2021 – $28,627;
  • in 2023 – $93,382;
  • in 2026 – $471,532.

He is confident that the bear market is over and only growth is waiting for us in the coming years.

Canaccord Genuity CapitalMarkets

A group of leading analysts of Canadian financial institutions Canaccord Genuity CapitalMarkets has a similar opinion about the rate of the first cryptocurrency. They believe that in two years Bitcoin will return to its peak values and go higher.

To create the own Bitcoin price chart, analysts were guided by historical data for 6 years (from 2011 to 2017). After analyzing the behavior of BTC, they came to the conclusion that at the moment the price of the asset has already “found the bottom”. And in the near future, the BTC course should start its growth.

Conclusion

If we analyze this information, we can conclude that the mood of market participants is beginning to change for the better. So far, the Bitcoin rate shows growing, even though slow: in recent months it has grown from $3,200 to $3,940 and continues to ascend. The nearest psychological mark is at the level of $4,000 – $4,100.

We will closely follow the latest news from the cryptocurrency world. If you always want to stay up to date with the latest events, then follow the updates on our website or subscribe to us on social networks.

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Bitcoin Overcame Psychological $4000 Mark: Rate Chart

The weekend begins well: today on March 16th, 2019, Bitcoin rate broke another psychological mark of 4 thousand dollars.

Half-hour graph from cryptocurrency exchange Bitstamp Source: TradingView

In the graph above we can see that not only Bitcoin has increased, but also trading volume. As expected, almost all the coins followed Bitcoin.

Source: Coinmarketcap

This is exactly how Top-10 cryptocurrencies looks like. Bitcoin Cash showed the maximum growth in the last 24-hours, it managed to grow by 14%, the second place in the growth dynamic takes Litecoin with 6,61%.

What is it – the final verge of a trend or another market manipulation? We will follow developments and provide you with the latest information.

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Tom Lee: Bitcoin Bull Market Is Coming in 2019

Tom Lee, one of the most influential people in the whole crypto universe, predicted that Bitcoin would enter bull market in 2019, however can we take it seriously if some of his predictions did not come true in the past?

Tom Lee’s prediction on Bitcoin price in 2018

The founder of Fundstrat Global Advisor, Tom Lee, was quite optimistic about the future of the world’s first cryptocurrency. At the beginning of the last year, he made a prediction, in which Bitcoin would reach the $25,000 by December. However, in July, Tom made an adjustments, changing the estimate rate by $22,000. Early in November, the forecast was changed again to $15,000. Eventually, BTC should have grown by more than 170% in a short term.

However, we all remember crypto prices’ collapse in the second half of 2018, when Bitcoin set new record in lowest price almost every day. The price of Bitcoin varied from $3700 to $3900, making 2018 the worst performing year for cryptocurrency market. The leading cryptocurrency’s price dropped by 70% from its opening price of approx. $13,000 in the beginning.

Thus, some people consider Tom Lee’s predictions as unreliable, in fact, they have such a right, yet let us look at what he thinks about 2019’s Bitcoin price.

Bull market is coming back, Bitcoin will return its high price

Tom Lee gave a small interview to CNBC, where he shared his thoughts considering Bitcoin’s price.

“I think 2019′s a year about repair,” Lee said. “We have a risk-on rally in global markets that’s positive for bitcoin; it was a headwind last year. And the dollar isn’t surging like it was last year. That’s a headwind that’s gone away.”

He talked about crypto’s stability and adoption of digital currencies by many influential companies, like JP Morgan, Mizuho Bank, and Facebook. Such a tendency may bring Bitcoin to much higher prices. This time, Tom Lee has not mentioned any specific numbers about Bitcoin’s price.

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Cryptocurrency Prices Today, March 15: Cryptocurrencies Are Rising in Price

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coin360, Bitcoin (BTC) added 0.48% in the past 24 hours. Price at the time of writing is $3888 per coin.

Cryptocurrencies moved to the green zone:

Bitcoin Cash added 3%, Bitcoin SV gained 1%, the cost of the coins is $133 and $65, respectively;

Ripple grew by 0.25% and costs $0.31;

EOS increased by 1.3%, and its price is $3.6;

Litecoin added 1.9%, and its value rose to $56;

Cardano grew by 7.6%, and its cost is $0.049;

Stellar lost 2.6% and costs $0.10;

IOTA added 2.9%, and its value is $0.29;

Dash increased by 2.5% and its price $89;

Monero gained 0.4% and costs $51.

Over the past 24 hours, Ethereum became more expensive by 1.3%. The rate of the coin is $133.

The total market capitalization is $135 billion. Bitcoin accounts for 50.9% of the total volume. In monetary terms, this is $69 billion.

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Cryptocurrency Prices Today, March 14: Cryptocurrencies Are Stable

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: cryptocurrency rate

According to the Coin360 online platform, Bitcoin (BTC) remains stable over the past 24 hours and has lost only 0.43% in price. The price at the time of writing is $3863 per coin.

Cryptocurrencies have not changed significantly in price:

Bitcoin Cash added 2.9%, Bitcoin SV lost 0.9%, the value of coins was $129 and $65, respectively;

Ripple dropped by 0.2% and costs $0.31;

EOS grew by 1.4% and its price is $3.57;

Litecoin increased by 1.75% and its price is $55;

Cardano lost 1.25% and its value is $0.046;

Stellar added 6.4% and costs $0.10;

IOTA has become more expensive by 1.4% and its cost is $0.28;

Dash decreased by 3.9% and its price is $87;

Monero added 1.9% and costs $51.

Over the past 24 hours, Ethereum has lost 1.56%. The rate of the coin is $131.

The total market capitalization is $134 billion. Bitcoin’s share is 51.1% of the total. In monetary terms, it is $68 billion.

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