Founder Kenetic predicts: Bitcoin $30,000 at the end of 2019

rise of bitcoin

The co-founder of the blockchain investment company Kenetic predicts that the Bitcoin price at the end of 2019 will be around $ 30,000 dollars.

This is why Bitcoin is worth $ 30,000

Jehan Chu from Kenetic says in an interview with Bloomberg that he is positive about Bitcoin . He expects the BTC price to continue to rise, just like the rest of the crypto market. To support his statement, he points to three important factors.

The first important factor is the massive blockchain and crypto acceptance of the largest companies in the world. Giants such as Facebook, JPMorgan, Starbucks and Rakuten are interested in crypto and that is a good sign according to Chu.

Another factor on which Chu bases his prediction is the fact that investors are looking for a world-changing tech development. Where investors are disappointed by Uber, blockchain and crypto seem to be really changing the world. This attracts extra investors.

Finally, the expert points out the coming Bitcoin halving. During this process, the number of Bitcoin that is generated per block that is mined is reduced. This means that miner BTC comes into circulation and that the coin becomes rarer. According to him, this will raise the Bitcoin price.

Chu therefore concludes: “Looking at the combination of these three factors, I think the Bitcoin price can rise to $ 30,000.”

Bitcoin ETF or not, institutional money is going to change cryptoworld

In an interview, Chu also spoke about the most long-awaited event in the crypto world. An approval from the first Bitcoin Exchange Traded Fund (ETF). Chu says he is not anxiously waiting for an ETF. He says that the big money will flow into the cryptocurrency world. Regardless of whether an ETF comes tomorrow or in the future.

About Shawn Morrison 54 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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