The future value of one bitcoin remains a big unknown. Various predictions are made every week, yet not all of them can come true. Experts remain on the fence regarding the world’s leading cryptocurrency. Maintaining a long-term Bitcoin price perspective is warranted, now maybe more than ever before.
The Near-Term Bitcoin Price Conundrum
Speculating over the future Bitcoin price can often become a futile venture. This volatile market can easily swing in either direction without prior warning. This has become rather evident throughout 2018, although a $6,000 support level remains in place. Various experts aren’t sure what to expect from this trend over the next one to three years.
For Bitcoin Talk Radio, Jim Blasko, the only way is up. His bullish Bitcoin price prediction puts the value at $100,000 or more by late 2020. A new Bitcoin reward halving will have taken place by then, which usually sends the market in an upward direction. Marshall Long, the eBoost co-founder, is also bullish, albeit in moderation. He envisions that the future price evolution will primarily hinge on regulatory developments affecting all cryptocurrencies.
One point of concern is 2018’s Bitcoin price dip. A retrace of roughly 75% earlier this year has spooked quite a few investors. It is not the first time something like this happened though. A new brief dip may be on the horizon, but in the long run, the market will resume its uptrend. These are the findings of TrustVerse CEO Michal K. Jeoung.
Overall, while their target price may differ, all of these analysts predict a healthy long-term Bitcoin price trend.
The Rise of Blockchain and dApps
One interesting factor across these differing visions is how no one mentions Ethereum. In fact, it seems a lot of investors purposefully avoid the world’s second-largest cryptocurrency by market cap. That is a rather interesting evolution. While Ethereum’s blockchain was once a hot commodity, investors look at things from a completely different point of view these days.
The success or failure of Ethereum will hinge on blockchain technology taking off. ASQ Protocol’s Max Tsaryk has an intriguing vision in this regard. He claims 2019 will be the year of blockchain and dApps. As such, it should also become the year of Ethereum. Even so, his company specializes in moving blockchain protocols off the main Ethereum network. This is done to prevent any unfortunate Ethereum-based developments from affecting platforms initially built on top of its technology stack.
Competition in the dApp industry is heating up. Projects such as EOS, TRON, and NEO are all making their impact on this industry.
Ethereum still has the “marketable” brand, but its network is widely considered inadequate to handle thousands of dApps and other blockchain projects. Just remember how the success of CryptoKitties impacted the Ethereum blockchain. Solving that problem will require future scaling solutions. One of those upgrades, dubbed Constantinople, is suffering from some delays in this regard.
Do you think Bitcoin price will shoot higher in the years ahead? Will 2019 be the year where Ethereum shines? Let us know in the comments below.
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