Popular cryptocurrency evangelist and author William Mougayar recently gave a twitter price prediction of $25,000 for Bitcoin and $1,000 for Ethereum by the end of 2019. Is he to be taken seriously?
Popular cryptocurrency evangelist and author of “The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology,” William Mougayar took to Twitter last week to make big and bold predictions for several cryptocurrency tokens; among them Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) and others.
In his extremely bullish prediction, he put Bitcoin’s price as at the end of the year to be $25,0000, Ethereum at $1,000, BNB at $50, EOS at $7 and even STEEM at $.50. This, of course, generated all sorts of reactions from many of his followers who thought that he was playing around.
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)
XTZ @$2
STEEM @ $.50Total 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
He further went on to predict a 55% market dominance for Bitcoin, Ethereum Classic (ETC) at 15% and the top 20 cryptocurrencies at 95%.
Strangely, Ripple’ XRP was excluded from the price predictions and when queried about it by Twitter user @tfergtrades, he replied:
I don’t have insights into XRP so didn’t want to shoot in the dark.
— William Mougayar (@wmougayar) September 18, 2019
This, of course, goes to show his bias for a certain class of cryptocurrencies as against others.
The Launch of Bakkt Indicates New Life in the Crypto Space
Bitcoin which is still the king of the crypto space has been moving sideways so far. This has created a situation where investors and hodlers of the cryptocurrency are wondering what exactly is going on.
The truth be told, no one thought that crypto winter would end so soon. But now that it has, everyone is wondering where next the crypto space is going and which cryptocurrency will be the next big thing.
The launch of Bakkt which is a cryptocurrency trading house owned by ICE who are the owners of the New York Stock Exchange and several others has indicated that though crypto winter is gone and markets are yet to fully thaw, mass adoption of cryptocurrencies is indeed on its way but may not happen in the way that William thinks.
This may not happen because major regulatory hurdles are yet to be overcome in major markets. Already, the United States Congress is ready to hold hearings on cryptocurrencies with key officials of the Securities and Exchange Commission (SEC) after Bakkt’s launch.
Other cryptocurrency projects such as the reintroduction of Binance back to the United States markets also hold promise for the crypto space.
Crypto enthusiasts may tend to be right some of the time but not all of it. The crypto space has crossed that line where we can wake up and make predictions based on emotion. As with all things with the crypto space, a Bitcoin price of $25,000 is possible but we might need to wait for a terrain where regulation and adoption are two major fundamental issues being faced by all cryptocurrencies.
