BitPay’s Sonny Singh Bullish on Bitcoin, Says Bitcoin to Hit $15K in 2019

BitPay’s Sonny Singh Bullish on Bitcoin, Says Bitcoin to Hit $15K in 2019

Bitcoin News
November 23, 2018 by Jane
1218
Sonny Singh, the Chief Commercial Officer of Bitpay, has stated that the Bitcoin price will reach $15,000 in 2019, due to the institutional interest that will continue to grow. In particular, Singh has penned his hopes on Bakkt and an ETF approval to bring new investors into the market. According to Singh, Bitcoin has got
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Sonny Singh, the Chief Commercial Officer of Bitpay, has stated that the Bitcoin price will reach $15,000 in 2019, due to the institutional interest that will continue to grow. In particular, Singh has penned his hopes on Bakkt and an ETF approval to bring new investors into the market.

According to Singh, Bitcoin has got great brand recognition and that the cryptocurrency will end up being used commercially soon.

Singh mentioned the impending launch of Fidelity and Bakkt services in 2019 and claimed that as soon as they are launched, the value of Bitcoin will shoot up.

He further stated that the price of BTC will not drop below $15,000. He reaffirmed this stance during an interview with Bloomberg, stating:

“Next year will see new players and miners emerge in the industry. We will not see any rapid shift but by the end of Q1 or Q2, Bitcoin will emerge as a viable commodity. Bitcoin has become mainstream adoption around the world, it has got a great brand reputation.”

Sonny Singh went on to say that Bitcoin is the “800-pound gorilla” in the cryptocurrency market. According to him, the ICO market is pretty much dead right now with a chance that some may survive. He was also confident in saying that none of the ICO’s will survive if Bitcoin does not.

when asked where he thinks the price will be next year, Singh replied with “if institutional companies launch their products, you’d see a price of maybe around $15,000, possibly even $20,000 by the end of next year.”

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