Bitpay: new players in the industry will rise the price of Bitcoin to $ 20,000

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Bitpay: new players in the industry will rise the price of Bitcoin to $ 20,000
2018-11-26 in BITCOIN

In 2019, the price of Bitcoin can rise to $ 15,000 and even reach $ 20,000. It was claimed by Sonny Singh, Bitpay’s commercial director of the Bitpay processinog service in an interview with Bloomberg.

According to Singh, Bitcoin has an excellent reputation, and the cryptocurrency will become a viable commodity in the first quarter of 2019.

However, he added, “we will not see the price movement – up or down – for a long time, until a new direction appears” for Bitcoin.

He calls the Bakkt platform, Fidelity Digital Assets and BlackRock Bitcoin-ETF as the main growth driver for the industry.

He also has hopes for the structural transformation of the cryptocurrency industry itself, including the possible IPO of leading American company Coinbase. The latter, we recall, such rumors refuted.

At the same time, Sonny Singh drove another nail into the coffin of the ICO industry.

“I think it’s safe to say that right now the ICO market is pretty much dead. Maybe a few Altcoins will survive, but none of them will survive, if Bitcoin does not survive, ” – added Sonny Singh.

Previously, analyst and co-founder of Fundstrat Global Advisors Tom Lee said that the price of Bitcoin fell only in the short term.

At the same time, analyst Oanda Corp. Stephen Innes said that if prices continue to decline, investors can begin to massively exit cryptocurrency. Critical, in his opinion, is the mark of $ 3000.

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