Bitcoin (BTC) is the most popular and valuable cryptocurrency in the market. Needless to say, BTC experienced the most significant growth in the past couple of years. But is Bitcoin (BTC) on its way towards $150,000 by 2019? Some cryptocurrencies market analysts believe that is indeed possible, especially in the perspective of the Lightning Network launch, set for this year.
Bitcoin (BTC) Price Forecasts
John McAfee is one of the most important personalities in the world of cryptocurrencies. He is among those who consider that BTC is undervalued right now and might worth as much as $1 million in the following years.
Jeet Singh, a senior analyst and fund manager, also said that Bitcoin (BTC) is quite likely to be trading at about $50,000 by the end of 2018. He is certain that Bitcoin’s volatility will decline as the cryptocurrencies market becomes more mature.
In an interview with Bloomberg, Jeet Singh stated:
If you look at Apple’s Microsoft when its shares were made public, they were very volatile because the market was not mature. There aren’t many vendors that can accept cryptocurrencies but there’s a lot of adoption on the black market.
One of the renowned Winklevoss twins, who own the Gemini cryptocurrency exchange, respectively, Cameron Winklevoss, commented that the market capitalization of BTC can easily plunge somewhere between $4 and $8 trillion. Moreover, the cryptocurrencies specialist claimed, just a couple of weeks ago, that Bitcoin (BTC) has the force to increase by about 35 times, in the next years.
So if we look at a market cap of $100 billion today, now last week it could have been over $200 billion, so it’s actually a buying opportunity, we think there’s a potential appreciation of 30-40 times (…) So we think that, regardless of the price movements in recent weeks, it is still a very undervalued asset.
The Lightning Network will become operational in 2018
Also noteworthy is the fact that in the course of this year, the Lightning Network is scheduled to become operational.
Since that moment on, Bitcoin (BTC) will cut its transaction fees and processing times to near nil. This may be perhaps some of the most significant milestones in Bitcoin’s history. In case the Lightning Network turns out to be as good as its developers claim to be, the BTC issues with scalability would be solved out, therefore, Bitcoin (BTC) price will soar up considerably.