BitPay COO Sonny Singh: Bitcoin Could Hit $15-20K by End of 2019

[Nikko]

The Chief Commercial Officer (COO) of global crypto payment processor BitPay has ventured that Bitcoin (BTC) will hit $15,000 to $20,000 by the end of 2019. The COO, Sonny Singh, made his forecast during an interview with Bloomberg Nov. 22.

In the midst of a bearish market picture – with Bitcoin down over 32 percent in value on the month – Singh said that he expects the next big price action to come when mainstream financial sector giants such as Fidelity and Intercontinental Exchange (ICE) start to launch their crypto-based investment products next year.

The financial giants’ entry into the space could catapult Bitcoin’s price to as high as $15,000-$20,000 by the end of 2019, Singh told reporters.

Aside from traditional financial incumbents’ launch of crypto-based products, Singh pointed to structural changes in the crypto market itself, with stalwart companies such as U.S. crypto exchange and wallet provider Coinbase and crypto bank Silvergate gearing up for possible initial public offerings (IPOs).

Readmore: https://cointelegraph.com/news/bitpay-coo-sonny-singh-bitcoin-could-hit-15-20k-by-end-of-2019