Bitcoin Predictions: BTC To Hit $42k In 2019 and $356k In A Few Years
The Bitcoin-related predictions are becoming bullish again. Today, the most important crypto in the market is trading in the green.
Despite the fact that BTC has suffered a correction, more crypto experts are seeing a really bright future for the coin.
BTC to hit $42,000 in 2019
After the prediction which claimed that BTC will be falling to $8,500, now the CEO of blockchain and crypto hedge fund Pantera just said that BTC’s past trend is showing that the most important crypto in the space will hit $42k this year.
This will be reportedly followed by $356,000 a couple of years later.
During the latest episode of the Unchained podcast hosted by Laura Shin, Dan Morehead said the following:
“One perspective would be to graph the price of Bitcoin logarithmically to take away the crazy exponential growth, and it’s typically a pretty consistent line. And there are a few bubbles.”
He continued and explained that “It deflated so much that at the beginning of this year, when we were at the trough of the crypto winter, we graphed what it would be like if Bitcoin spent the next 12 months getting back to its trend line and then from there out just stayed at its trend.”
BTC is reportedly on the right path
According to him, BTC’s trend so far has been to grow at 235% compound annual growth rate.
“At the time, Bitcoin was $3,000 or $4,000 – that put Bitcoin at $42,000 at the end of 2019, which I know sounds crazy. But essentially we’re halfway back there, it’s right on the trend line.”
He continued and highlighted once more that by the end of 2019, such a figure is definitely a viable prediction.
You can check out the Daily Hodl’s original article in order to find out more about what he explained.
You can also listen to the podcast.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.