The first digital cryptocurrency in the world was Bitcoin. The project initially started as Satoshi Nakamoto proposal, who has published the project's whitepaper on bitcointalk in 2008. In 2009 he mined the fist genesis block of Bitcoin.
Bitcoin is some sort of a new digital "gold", you may earn a part of it, hold it, mine or use as a payment method. Despite other faster and more scalable cryptos on the market, Bitcoin is still the leader, the most demanded and the most influental cryptocurrency, the most tradeble pair on exchanges. If the Bitcoin price drops it is also affects the price of the most coins and tokens.
News background and the forecasts of experts. The events that occur around Bitcoin, directly affect the cost of cryptocurrency. For example, hacking of exchange platforms and negative statements by experts in the cryptocurrency sphere lead to decline in the BTC price. On the other hand, positive developments contribute to the Bitcoin value rise. Recall at least the inclusion of Bitcoin Cash in the listing of Coinbase, after which the course BTC price soared up.
The BTC price is directly dependent on the decisions of the governments of large countries regarding the circulation and use of virtual money. The emergence of prohibitions, taxes or fines for miners has a negative impact on the exchange rate of Bitcoin. This is especially noticeable when it comes to large market players, such as China or the United States.
Fluctuations in the Bitcoin exchange rate price led to the division of experts into two groups. Some believe the situation with a correction issues are temporary, and already in 2019, Bitcoin will reach new heights. Others, however, argue that the era of cryptocurrency is ceasing to exist.
In the context of BTC price, one cannot be categorical, because the cost of the digital currency, including in 2019, depends on many factors.
Despite a number of negative factors, the forecast for Bitcoin for 2019, according to many experts, is positive. The reason is that the popularity of cryptocurrency is growing. It is planned that by the beginning of 2020 the number of BTC users will rise to the level of five million people. For comparison, back in 2014, this parameter was about 1.5 million. Against this background, it can be argued that in the coming years, Bitcoin will dominate among other competitors and is unlikely to leave the “throne”.
#4 Anthony Pompliano Bitcoin Price Prediction
Bitcoin may foreseen price drop up to $3000, the bear market will continue till Q3 2019, next there can be some positive bullish market attempts.
In 2016, the miners experienced another decline in the rewards for the mined block, which decreased to 12.5 Bitcoins. In 2018 and the next 2019, this parameter will remain unchanged, but the complexity of the cryptocurrency network continues to grow. This happens due to the emergence of new ASIC-miners, who ousted farms on the GPU and processors, making the production process more costly for network participants. In addition, on August 9, 2018, 17.198 million coins have already been mined. This means that miners have 3.802 million BTC left, after which there will be nothing to extract. The calculations made show that mining profitability is decreasing, and payback periods, on the contrary, are growing. As a result, interest in cryptocurrency, as an object of extraction, is gradually decreasing, which may lead to a decrease in the BTC price.
Despite the high capitalization of BTC, which is 109.2 billion as of August 9, 2018, this is a “drop in the ocean” compared to the sum of the total cashless turnover. As a result, Bitcoin is still subject to the influence of large players who are able to buy or sell BTC in large volumes. Against this background, there remains the risk of a collapse in the course, which can occur at any time.
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