HomeCryptoBitcoinWhat will be the price of bitcoin at the end of 2019?

What will be the price of bitcoin at the end of 2019?

An interesting hypothesis is circulating about the price that bitcoin could reach at the end of 2019. This is a hypothesis published on Twitter by trader PlanB, which suggests that BTC could close the year at $10,000. 

This hypothesis is based on the halving cycle. In fact, in about six months, the third halving of bitcoin will take place, following that of 2012 and that of 2016. PlanB shows a graph comparing the price of bitcoin in USD (red points) with the S2F model. 

According to this “Stock-to-Flow” model, scarcity directly determines the value. In addition, the market capitalisation of bitcoin after halving in 2020 is expected to be around $1 trillion, corresponding to a BTC price of $55,000. 

No one knows when this figure could be reached, but the overlap of the price curve with that of the S2F model actually seems to show a possible correlation, with the price following the changes in the S2F curve after the two previous halvings. 

Other opinions on the price of bitcoin

According to this correlation, the price of BTC at the end of 2019 should be around 10,000 dollars. According to a trader of PDC Academy – Trading, this is a prediction that has actually been presented in different forms by multiple people. 

“Is it plausible? Of course it is. Will it repeat itself as it is? Absolutely not”.

Consequently, there is no guarantee that what happened in the past will happen again. 

“To generate growth, it is imperative that retail traders feel discouraged so that market movers stock up on crypto for the impulsive movements that follow. With this, I’m simply saying that in the exact moment of the halving there will not be any type of movement in the short term, indeed it is much more likely that such movement happens in the spring period just like it happened this year. People expected big movements with the arrival of Bakkt when in fact such movements took place 6 months earlier, in April. So I think the same thing will happen next year: a quite substantial movement in the spring period before the arrival of the halving. If any kind of movement occurs, it will only be dictated by the retail FOMO and, as such, in my opinion, it will be absorbed as soon as possible in order for the institutions to take profits from the movements organised in the previous months.

It is sufficient to consider the present moment: great liquidation and a great opportunity for accumulation that requires further liquidity to take profit. So yes, it can happen, but not as we can imagine”.

 

Marco Cavicchioli
Marco Cavicchioli
Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".
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