With the crypto market's recent downturn, many naysayers and haters immediately claimed (yet again) the death of Bitcoin and cryptocurrencies in general. Here is what some of the leading experts and influencers in the market have to say about the future of Bitcoin, Ethereum, and the market as a whole in 2019 and beyond.
Mark Yusko, the CEO of the crypto investment firm Morgan Creek Digital, thinks highly of the future of crypto. He claims that although it’s scary now, the real reward comes to those who take the risk. Mark believes that Bitcoin’s price could increase up to 20 times in the next 10 years.
The greatest wealth is created by being an early investor in #Innovation— Mark W. Yusko (@MarkYusko) November 14, 2018
Making that investment requires believing in something before the majority of people understand it
You will be mocked, ridiculed & criticized for your non-consensus action
It is absolutely worth it!
Tim Draper, the venture capitalist and man who bought the seized Silk Road bitcoins from the U.S. Marshalls, believes that Bitcoin will reach $250k in around four years time. "I always look at a crisis as an opportunity...All times are good times to enter the crypto market... it’s just a matter of time before the world adopts it."
John McAfee, one of the craziest personalities in crypto, believes that Bitcoin will be traded at $2M in the next two years.
Bloomberg technical analyst Mike McGlone claims Bitcoin will hit $1.5k. "The hard fork was a key trigger that signaled the technology is way too nascent. You had these dicey characters threatening to destroy each other and institutions said 'It might be best if we stay away from this for a while'."
Mike Novogratz, the ex-hedge fund manager and ground floor investor in Ethereum, believes Bitcoin will reach above $10k on the back of institutional investors coming into the market following the launch of Bakkt’s physically-backed Bitcoin futures and Fidelity’s custody and trade-execution products in April.
Cryptocurrency author and market observer Jeff Reed thinks Ethereum has a brighter long-term future than Bitcoin.
"Like Bitcoin, there is little stopping Ethereum from being an alternative currency to fiat and commodity currencies. You can conceivably trade anything using Ethereum, but this is not Ethereum’s strength in comparison to other cryptocurrencies – they can all do this. It’s rather the computing language that allows the smart contracts to exist that makes Ethereum more valuable than BTC."
Matthew De Silva, a cryptocurrency journalist at Quartz, on the other hand, is quite bearish on Ethereum after prices crashed to the $179 mark.
Joseph Raczynski, the founder of JoeTechnologist.com and a key blockchain influencer with a Twitter following of 153K, makes the exact opposite argument and expects the value of Ethereum to hit $1.2k by Q4 2019. "They are one of the most real projects to date. Nearly all large organizations are testing on this platform."
Backing up Joseph is Tom Lee, head of research at Fundstrat Global Advisors. "Ethereum is about to rally strong and be one of the best-performing assets next year."
Nigel Green, the CEO of the deVere Group, believes the price of Ethereum will increase significantly and could hit $2.5k. This will be fueled by growing integration and adoption by major banks and other financial institutions. Green claims, "Another key reason for the rally is that there’s a growing awareness of the need and demand for digital, global currencies in a digitalized, globalized world."
Brian Schuster, the head of Founder Solutions at Ark Capital LLC, has higher dreams for Ethereum.
"What if you believe that Ethereum is less like one individual business and more like a store of value, like gold? This gives us a potential market capitalization of roughly $10 trillion, leading us to believe that the price of Ethereum might rise as high as $100k per coin. We might even go one step further and say that Ethereum is not like one asset, but an asset to replace all currency that exists."