his year has definitely started with a “not so bad” note. Only a few days ago, Bitcoin jumped up to $9,084 – its highest price since 10 May 2018. However, an overwhelming rally was short-lived as its price returned below $8,600 just minutes later. At the moment of writing, BTC was trading between the $8,400 – $8,700 price range.
From the dramatic price plunge of Bitcoin $BTC▲1.67% and other digital assets to the regulatory crackdown on initial coin offerings (ICOs) and the continued trail of crypto-exchange hacks, the cryptocurrency industry put behind a very turbulent year.
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But does it mean that Bitcoin is ready for a period of calm and recovery, or is it headed for rougher times? We asked cryptocurrency experts on what they think Bitcoin’s highlights will be in 2019. As it happens, like many other things in crypto-land, predictions are very difficult, and there’s little agreement on what Bitcoin will look like in the year ahead.
“Despite Bitcoin’s fairly limited use cases, and even though its technology may be less sophisticated when compared to some other projects, it will likely continue to remain the market leader in 2019. Bitcoin still has the reputation and the liquidity that make it preferable to other cryptos.
“It’s difficult to put my finger on a price, however: Bitcoin’s value will continue to be driven by a great deal of financial speculation.
“It’s important to remember that the crash we saw with Bitcoin this year doesn’t indicate a lack of long term value. The bubble may have burst in 2018, but there’s still enormous substance and potential in the crypto market at large.