According to commercial Director of payment service BitPay Sonny Singh (Sonny Singh), by the end of 2019 the price of bitcoin will reach $15-$20 thousand. He believes that this will result in the launch of new products such financial giants as Fidelity and Intercontinental Exchange (ICE), as well as changes in the structure of kryptonyte and IPO companies such as Coinbase and Silvergate.
Singh is convinced that 2019 will bring you many surprising moments, including the launch of crypto-ETFs and the emergence of powerful competitors in today’s dominant projects “from a number of Bitpay and Coinbase”.
At the same time, the future fate of altcoins, in his opinion, presents a completely different picture, because the market is ICO at the moment is almost dead, and more active participation in the development of the Commission on securities and exchange Commission (SEC) does not Bode well.
“Bitcoin is the undisputed leader with a network effect around which traditional financial institutions create their products. What happens with the other cryptocurrencies, I don’t know,” said Singh.
We will remind, the audit firm Big four firm KPMG also believes that the potential of cryptocurrencies to the industry should join institutional investors. A week ago, financial analyst, co-founder of Fundstrat Global Advisors and former chief strategist at JPMorgan Chase Tom Lee (Tom Lee) has lowered its forecast about the price of bitcoin by the end of 2018, but continues to assert that over the next month and a half leading cryptocurrency will rise to $15 thousand per unit. He connects the development of the stock market with access to it Bakkt, Fidelity and institutional clients. However, recently it became known that the launch Bakkt this year will not take place.