It was a rough year for crypto investors, with the price of Bitcoin dropping 73% from Jan. 1, 2018 to Nov. 27, 2018. But just like with any bear market, we could see BTC prices rebound in the next year.
That's why we had to make sure you saw the latest Bitcoin price predictions for 2019.
The lowest price target on Finder.com for Bitcoin in 2019 is $7,000. From today's (Nov. 27) price of $3,748.90, that's a potential gain of 86.72%.
Not too bad.
However, there's one BTC price prediction for 2019 that is so bold, you won't believe it until you see it.
We're going to get to that in just a minute.
But first, we're going to answer some of the most common questions we've received about Bitcoin heading into 2019…
Why Did Bitcoin Prices Drop in 2018?
As we mentioned earlier, the cryptocurrency market is bearish right now.
Bitcoin prices have dropped right along with Ethereum, Bitcoin Cash, Litecoin, and XRP.
One of the reasons for the bearish sentiment is Bitcoin ETFs were rejected by the Securities and Exchange Commission (SEC). Crypto investors were hoping an ETF would lure new money into the market, according to Money Morning Cryptocurrency Expert David Zeiler.
"A Bitcoin ETF would help bridge the gap by allowing these large investors to gain exposure to Bitcoin without the hassle of owning it outright. At the same time, it will open the door to a class of investors whose presence will help fortify and stabilize the Bitcoin markets," Zeiler said on Sept. 17, 2018.
But the SEC isn't ready for a Bitcoin ETF, which means crypto investors still have to wait for retail money to hit the market.
Also, high-profile hacks of cryptocurrency exchanges in 2018 have undoubtedly made investors nervous about using and storing crypto.
As of July 4, 2018, $731 million worth of cryptocurrencies were stolen from crypto exchanges in the first half of 2018, according to CCN.com.
The Japanese cryptocurrency exchange Zaif was hacked on Sept. 19, 2018, and $59 million worth of crypto was stolen.
Finally, the run-up of crypto prices in 2018 was so astounding that the market needed a cooldown.
BTC prices traded for $963.66 on Jan. 1, 2017, and climbed 1,364% to $14,112.20 by Jan. 1, 2018.
Stunning: New innovation will be like "adding twin turbos to the Bitcoin engine" – and could send its price to $100,000. Learn more…
Early crypto adopters cashed out their profits and became millionaires.
But now that prices have come back to earth, we're getting a lot of questions about whether Bitcoin is still a good investment in 2019...