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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,will possibly hit $25,000 by the end of 2019.
Mougayar’s prediction is bold, but bear in mind this is just his ‘hunch.’ Here are some of his more general market predictions.
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:
End of year predictions:
ETH @ $1,000
BTC @ $25,000
ETC @ $50
ATOM @ $20
BNB @ $50
DOT @ $250
EOS @ $7
KIN @ $.0001
STX @ $1.50 (Stacks)
STEEM @ $.50
Total Crypto Mkt Caps $750 B.
BTC dominance will end at 55%.
ETC at 15%. Top 20 at 95%.
[this is not trading advice]
— William Mougayar (@wmougayar) September 18, 2019
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.
"Today's numbers I just pulled out of my ass are…"
— Overclocked Jesus (@ovrclockedjesus) September 19, 2019
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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