COO BitPay: Bitcoin will reach $15-20 thousand by the end of 2019

[Paha87]

The chief commercial officer (COO) of the global cryptocurrency payment processor BitPay predicts that bitcoin will cost between $15'000 and $20'000 by the end of 2019. Sony Singh made his prediction during an interview with Bloomberg on November 22.

In the midst of a bearish trend in the stock market - bitcoin fell more than 32 percent for the month, Singh said that he expects the next major price action that happens when you start to run the giants of the financial sector, such as Fidelity and Intercontinental Exchange (ICE) with their crypto-oriented investment products in the next year.

Singh told reporters:

The entry of financial giants into the crypto sphere may lead to the fact that by the end of 2019 the price of bitcoin will reach $15 000-$20'000.

In addition to the traditional launch of cryptocurrency-based financial products, Singh pointed to structural changes in the crypto market itself, including such sustainable companies as Coinbase and Silvergate preparing for possible initial public offerings (IPOs).

Singh predicts that next year will be an "exciting moment" - the launch of the cryptocurrency-based exchange-traded Fund (ETF) by Fidelity.

The chief commercial officer of BitPay, however, made a clear distinction between bitcoin and altcoins, claiming:

There is a difference between bitcoin and all other cryptocurrencies. Bitcoin is a giant that has a massive network effect; traditional financial companies create products with its participation. Other cryptocurrency assets ... I don't know what will happen to them.

Noting that the "ICO market is now dead," Singh also suggested that signs of increased interference from the U.S. securities and exchange Commission (SEC) do not Bode well for the future of tokens.

In an interview in September, Singh set out a broadly similar argument that crypto markets are on the threshold of a certain "defining moment" that will come with a large entry into the market of institutional investors that "will become a reality in 2019."

Link to the source of information (Russian) - https://altstake.io/news/coobitpay-bitkoindostignet15-20-tys-k-koncu-2019-goda