William Mougayar, a venture capitalist and author of The Business Blockchain, has put out his end-of-year predictions for major cryptocurrencies. He is definitely bullish, to say the least.
The cryptocurrency market seems to be picking up some bullish momentum going into Q4 which could cause some assets to reach an all-time high. According to notable blockchain writer William Mougayar, Bitcoin will possibly hit $25,000 by the end of 2019.
Bold Claims Ahead
Mougayar’s prediction is bold, but bear in mind this is just his ‘hunch.’ Here are some of his more general market predictions.
- By the end of 2019, market capitalization will be $750B and Bitcoin dominance will sit at around 55%.
- Ethereum will make up around 15% of the entire cryptocurrency market. The top 20 will account for 95% of it.
Mougayar even went as far as to make calls on specific cryptocurrencies. He makes clear this shouldn’t be taken as trading advice, however. He predicts that by the end of 2019 we will see:
- Ethereum (ETH) at $1,000
- Bitcoin (BTC) at $25,000
- Ethereum Classic (ETC) at $50
- Cosmos (ATOM) at $50
- Binance Coin (BNB) at $50
- Tezos (XTZ) at $2
- EOS at $7
Some, however, didn’t take too kindly to his predictions and accused him of giving an opinion without backing it up with anything. There really is no explanation Mougayar gives as to how he reached his conclusions.
Unprecedented Claims for Bitcoin and Ethereum
However, there are reasons to be skeptical. For example, Bitcoin has historically never reached an all-time high with still so much time before its halving event. With the halving scheduled for May 2020, it would be unprecedented if Bitcoin were to break all-time high by the end of 2019. Extraordinary claims such as these require evidence and critics are right to critics Mougayar for providing nothing but ‘his opinion’ on the matter.
Still, Mougayar is right in his bullishness, arguably—Bitcoin will likely rally by year’s end quite significantly. Yet, for it to hit a market capitalization of $500B so soon seems unlikely.
Do you agree with Mougayar’s predictions or do you find them too far-fetched? Let us know your thoughts in the comments below.
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