[2018-11-23]BitPay COO Sonny Singh: Bitcoin Could Hit $15-20K by End of 2019

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Quote from: darkangel11 on December 03, 2018, 04:53:22 PM

Even if I were a newcomer to the scene, not knowing anything about cryptocurrencies, and saw the all time charts, I wouldn't dare to predict a 10k BTC next month. We are in a bear market going lower and lower, even if it bounces back it will have a hard time going over 7k, the price it couldn't breach for months when we were much more positive than we are now.

That's a bit too easy. Most of the people who entered did it on the way up last year, or on the way down this year, and that without any experience with markets. Basic noob "understanding" is chart from high to low means it's a good buying opportunity, not knowing that crypto prices can tank far below that what people consider to be low already.

Quote from: darkangel11 on December 03, 2018, 04:53:22 PM

I'm bullish, but some people like Mcafee, Lee, Novogratz, and a few others don't make sense.

It's actually a good thing. It shows that these hillbillies people think are experts aren't more expert than most of the countless noobs we have in the market here.

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Quote from: stompix on December 03, 2018, 02:01:57 PM

How about dear Novogratz ?
sep 22
Billionaire Novogratz: Impossible For Bitcoin Not to Hit $10,000 by This Year

oct 3

Bitcoin won't top $9,000 by year's end, Novogratz says

He must be on something. Even if I were a newcomer to the scene, not knowing anything about cryptocurrencies, and saw the all time charts, I wouldn't dare to predict a 10k BTC next month. We are in a bear market going lower and lower, even if it bounces back it will have a hard time going over 7k, the price it couldn't breach for months when we were much more positive than we are now. I'm bullish, but some people like Mcafee, Lee, Novogratz, and a few others don't make sense.

stompix

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Quote from: anamie on November 23, 2018, 10:59:18 AM

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 others news, the spokesman of Chevron said that the barrel of oil is going to reach 250$ and the CEO of Durex is predicting sales of 15 billions/day by 2030.

You can't take seriously forecasts made by people who's not only wealth but also job and business depends on the price.

Quote from: darkangel11 on November 25, 2018, 12:31:05 PM

Those predictions are getting lower and lower by the minute. What happened with all that 100k in 2019? I used to laugh at Tom Lee and his predictions getting lower and lower and this is another case. 6 months ago the Internet was so full of the new ATH promises, and now all they can make up is 15k in 2019. That's sad.

How about dear Novogratz ?
sep 22
Billionaire Novogratz: Impossible For Bitcoin Not to Hit $10,000 by This Year

oct 3

Bitcoin won't top $9,000 by year's end, Novogratz says

Slow death

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Quote from: anamie on November 23, 2018, 10:59:18 AM

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.

Is a prediction that anyone in the crypto world must have done or at least thinks it is possible, that is, does not need anyone's opinion for this forecast, but also to reach the price of $ 15000 for the next year will be something very difficult to happen, I still have not heard that BAKKT has obtained the license, the SEC has not yet approved any ETF bitcoin, I have no idea of the results reached by the coinbase custody service.

Quote from: 1BTC EQUALS 1CAR on November 28, 2018, 10:59:27 PM

No way unless he has billions of dollars that could make it happen. That Bitpay COO must have been trapped an daydreaming about his forecast and I think he needs someone to wake him up. I don't really feel good things will still happen by the end of the year but I know that 2019 has great things in store for us.

COO of BitPay is talking about 2019, you can see in this passage:

Quote from: anamie on November 23, 2018, 10:59:18 AM

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.

ATMD

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I think setting expectations lower than expectations in the past makes it sound more plausible too, there is nothing wrong with that in my opinion. The institutional investors can help drive the prices upward.

Coin-1

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Quote from: darkangel11 on November 25, 2018, 12:31:05 PM

Those predictions are getting lower and lower by the minute. What happened with all that 100k in 2019? I used to laugh at Tom Lee and his predictions getting lower and lower and this is another case. 6 months ago the Internet was so full of the new ATH promises, and now all they can make up is 15k in 2019. That's sad.

I agree with you, it upset me. Their predictions are getting lower and lower month by month. Almost no one says about $60K anymore. In my opinion, this prediction is not very optimistic because investors need to wait one full year until Bitcoin reaches $15K by the end of 2019. On the other hand, such predictions look more plausible.

1BTC EQUALS 1CAR

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No way unless he has billions of dollars that could make it happen. That Bitpay COO must have been trapped an daydreaming about his forecast and I think he needs someone to wake him up. I don't really feel good things will still happen by the end of the year but I know that 2019 has great things in store for us.

timerland

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Quote from: anamie on November 23, 2018, 10:59:18 AM

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

Right. We've already seen institutional investors starting to head into crypto investments.

However, I still don't see this as enough justification for prices to be realistically heading towards that sort of level any time soon. First of all, we're still in an extremely bearish market in which people are quite insensitive for otherwise positive news like this. Secondly, these institutional investors have already expressed interest way before the current drop in price occurred, and there is simply not enough time left in the year for markets to recover that quickly.

Anyhow, I do expect that institutional investors be one of the main drivers in terms of the next bull market, but that's probably not going to come until much later.

figmentofmyass

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Quote from: darkangel11 on November 25, 2018, 12:31:05 PM

Those predictions are getting lower and lower by the minute. What happened with all that 100k in 2019? I used to laugh at Tom Lee and his predictions getting lower and lower and this is another case. 6 months ago the Internet was so full of the new ATH promises, and now all they can make up is 15k in 2019. That's sad.

that's actually a good thing. that's how sentiment usually works in markets. when everyone is super bullish, that implies everyone is long---there's no one left to buy. (why wouldn't you be long if you thought price was set to skyrocket?)

that's how it was throughout 2018, with everyone feeling bullish and expecting new ATHs by end of year. so it was no huge surprise to see the market crash---markets tend to go where they'll cause the most pain. now all those hopeful bulls are in pain, pushing the market down as they exit the market to cut losses.

when everyone is bearish and thinks BTC is dead, that's when you can expect a bull market.

veleten

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Quote from: darkangel11 on November 25, 2018, 12:31:05 PM

Those predictions are getting lower and lower by the minute. What happened with all that 100k in 2019? I used to laugh at Tom Lee and his predictions getting lower and lower and this is another case. 6 months ago the Internet was so full of the new ATH promises, and now all they can make up is 15k in 2019. That's sad.

qui bono - always look for whos benefit it is to say so
Bitpay is probably losing some money because of the price drop and the lower volumes
probably not the only reason for the predictions like this, but seeing that the market are clearly bearish and we have not hit the floor just yet
it is clear to me that Sonny Singh is a very very interested party and would love the price to go 15.000 and up, since his business would benefit immensely from it
so take his and all other "experts" opinions with a pinch of salt

darkangel11

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Don't let others control your BTC -> self custody

Those predictions are getting lower and lower by the minute. What happened with all that 100k in 2019? I used to laugh at Tom Lee and his predictions getting lower and lower and this is another case. 6 months ago the Internet was so full of the new ATH promises, and now all they can make up is 15k in 2019. That's sad.

rodskee

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Hope so and good luck for their prediction to become true
Not possible to reach 15k to 20k usd price of bitcoin before end of 2018
People expecting before the holiday season will bump the price of bitcoin in the market
For me 50/50 chamce bitcoin bounce their value before end of 2108

gentlemand

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Odd that Bitpay have much to say about the Bitcoin price considering how much they dislike Bitcoin. Attempting to predict anything about the various Bcashes is a precarious task I suppose.

There's a lot of room for growth without getting anywhere near the ATH which is why the screeching of doom feels a little odd. There really can't be that many people who bought the various tippy tops. If we get back close to or above five figures next year it can still be boring but I assume many people will be in the black again.

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STOP SNITCHIN'

Quote from: 1Referee on November 23, 2018, 02:01:32 PM

BitPay is an absolute disgrace to this ecosystem. Instead of making it easier to use Bitcoin for average joes, they made it a whole lot more complicated. They also require an additional fee if you want to use their service to pay with Bitcoin, which is ridiculous. They can easily avoid the generally higher legacy fees by going full Segwit, but that's not what sugar daddies Roger and Jihan are interested in. Shame on them.

I don't take anything that these muppets say seriously. Bye bye BitPay, welcome any service adopting Segwit and LN.

I'd be happy to see other services take over, but unfortunately I rarely see merchants using anyone but Bitpay. I bought from two smaller sites who used Coingate or Coinpayments this year, but Bitpay mostly has the market locked down.

On top of charging a "network fee" for BTC at next-block rates, they also started discouraging RBF. Instead of the normal "payment confirming" page, invoices paid with RBF now forward to a page that warns of delay, suggests you stop using RBF and doesn't automatically update once paid.

Bitpay is so annoying with their passive aggressive behavior...

pixie85

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It's true this market is very small and it doesn't take a lot of money to start a rally. In 2017 it was enough for Korea and Japan to open new exchanges to launch the price past the previous ATH of 1000 dollars. Then it was futures hype that drove us to the crazy levels people called a bubble. If a country wanted to go in it could end the bear market with ease.

lotto-fan

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Sounds a nice prediction, and I am looking forward to it Grin

1Referee

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BitPay is an absolute disgrace to this ecosystem. Instead of making it easier to use Bitcoin for average joes, they made it a whole lot more complicated. They also require an additional fee if you want to use their service to pay with Bitcoin, which is ridiculous. They can easily avoid the generally higher legacy fees by going full Segwit, but that's not what sugar daddies Roger and Jihan are interested in. Shame on them.

I don't take anything that these muppets say seriously. Bye bye BitPay, welcome any service adopting Segwit and LN.

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Quote from: tyz on November 23, 2018, 11:08:04 AM

Even if I would wish for that, I always see a conflict of interest in such statements. Sonny Singh has an interest in the Bitcoin price having a positive outlook in this current downtrend for business policy reasons, so I would rather rely on external independent analysts. Nevertheless, I also believe that an ETF will have a positive impact if it is an ETF that physically holds Bitcoins and does not artificially map them.

Exactly, all speculators who are perma-bull have one thing in common, they have vested interest directly or indirectly that's why they have been calling prices which we see not possible short term. As for the ETF's well we're all eager to hear what SEC has to say, that it really took a toll on majority of traders that's why I have a suspicion that they may have exited at this point specially when they hear that ICE has delay its BAKKT bitcoin future offerings for next year. Its supposed to be next month, however, everyone was caught off guard because this is a possible catalyst for a bull run, but sadly we still need to wait a bit longer.

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Quote from: shamc on November 23, 2018, 11:35:50 AM

The ETF is one catalyst but there is another big one which will trigger a bull run, the bakkt. Starting in January 2019 we will see a gradual climb back up to the all time high and beyond

We cant really deny that those events will really be the catalyst of possible reversal trend since we know that Cryptomarket does really
react with these kind of fundamentals. I cant really oppose on others positive views on Bitcoin but talking such rise of this year wont really be possible on high chances.
I cant see any good news that can trigger out that possible recovery.

shamc

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The ETF is one catalyst but there is another big one which will trigger a bull run, the bakkt. Starting in January 2019 we will see a gradual climb back up to the all time high and beyond

tyz

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Even if I would wish for that, I always see a conflict of interest in such statements. Sonny Singh has an interest in the Bitcoin price having a positive outlook in this current downtrend for business policy reasons, so I would rather rely on external independent analysts. Nevertheless, I also believe that an ETF will have a positive impact if it is an ETF that physically holds Bitcoins and does not artificially map them.

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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

Topic: [2018-11-23]BitPay COO Sonny Singh: Bitcoin Could Hit $15-20K by End of 2019 (Read 308 times)