Bitcoin analyst Oliver Isaacs expressed the opinion that the first cryptocurrency rate would reach $ 25,000 by the end of 2019.
"There are multiple drivers behind the recent resurgence. There are geopolitical, technological and regulatory drivers. The net effect of the trade war between the U.S. and China has led to the sudden interest in bitcoin as a hedge on investments," Isaacs said.
May was very successful for the first cryptocurrency - the Bitcoin rate rose by 60%, however, Bloomberg analysts believe that the correction observed in recent days not ended.
According to analysts, GTI Vera Convergence-Divergence indicator, which tracks positive and negative trends, points to a continuation of the fall. For the first time since April, the indicator issued a signal to sell the first cryptocurrency.
The well-known Bitcoin-optimist and former hedge fund manager Michael Novogratz, who previously assumed the price movement of Bitcoin to new historical heights until the end of 2018, revised his forecast.
Previously, Michael suggested that the cost of all cryptocurrencies would reach $ 20 trillion, and Bitcoin would cost $ 40,000 by the end of 2018. Despite such positive forecasts, the year is coming to an end, and the current state of affairs in the market does not closely correspond to the declared. In this regard, Mike decided to change his forecast and at the Finance Disrupted conference, he said that by the end of the year Bitcoin would hardly be able to achieve a quarter of the value he had named.
Bitcoin enthusiasts and financial experts are beginning to listen to the opinion of the former manager of the Fortress investment fund and the longtime supporter of the crypto currency, Michael Novogratz, which predicts an even higher price for Bitcoins. In early October, he said that the cost of Bitcoin would be higher than an ounce of gold, and Bitcoin would reach $ 10,000 - this prediction was realized in less than two months. Now Novogratz says that in 2018 Bitcoin will reach $ 40,000.