TL;DR: A virtual social law codified by CoinSpice is, no one understands crypto. Proof of its validity is everywhere and gathers nearly by the damn minute. No better place to find the truth of that maxim is within the hopium-infused BTC price predictions of 2019. Hopefully, more folks will take these clowns a lot less seriously in the future.

A Sobering Look Back at Last Year’s BTC Price Predictions

Compiled by hilarious and biting cryptocurrency critic and Redditor Crypto_To_The_Core, 2019 proved to be a watershed year for BTC enthusiasts carried away with Lambo dreams and moons. It was to be the year institutions entered, tantalized by stablecoins, finally convinced BTC was everything proponents promised and more.

To be fair, the price of BTC nearly doubled in 2019 to $7,193.60 by year’s end from $3,843.52 at its start. And financial headlines have screamed about its overall decade of incredible price growth (Crypto_To_The_Core has something to say about that too). Both facts are not nothing and shouldn’t be dismissed. However, underscoring the point of how freer markets continually humble self-appointed experts, it’s important to keep the following BTC price predictions in mind:

2019-01: “I believe bitcoin will see a slight price recovery, rising to $8,500 by January 2019″ , David Hanson, Co-CEO of gaming distribution platform Ultra. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8

, David Hanson, Co-CEO of gaming distribution platform Ultra. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8 2019-01: “At the beginning of 2019, Bitcoin is expected to hover right above $10,000 per coin” , Sam Olmsted, Consultant for Pelicoin. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8

, Sam Olmsted, Consultant for Pelicoin. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8 2019-01: “On January 1st, 2019, I expect the price of Bitcoin to be about $10,000 “ , Kyle Fournier, Crypto Analyst at CryptoManiaks. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8

, Kyle Fournier, Crypto Analyst at CryptoManiaks. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8 2019-01: “… by January 2019 Bitcoin should be around double where we are now = US$12600 “ , Luke Lombe, Head of Blockchain at PlayChip. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8

, Luke Lombe, Head of Blockchain at PlayChip. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8 2019-01: “ $14,000 BTC/USD [by January 1, 2019]” , Collins Brown, Co-Founder at Market Protocol. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8

, Collins Brown, Co-Founder at Market Protocol. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8 2019-01: “Based on our existing data combined with industry trends, we predict the price of Bitcoin will level around $15,000 by 1st January 2019″ , Danny Scott, CEO and Co-Founder at CoinCorner. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8

, Danny Scott, CEO and Co-Founder at CoinCorner. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8 2019-01: “My Bitcoin price prediction for 1 January 2019 is $23,000 “ , Eric Brown, Founder and CEO of Aliant Payment Systems. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8

, Eric Brown, Founder and CEO of Aliant Payment Systems. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8 2019-01: “I believe Bitcoin will hit $24,500 by the 1st of the year [1-Jan-2019]” , Kyle Asman, Co-Founder at BX3 Capital. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8

, Kyle Asman, Co-Founder at BX3 Capital. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8 2019-01: “ $150,000 is my prediction for January 1st [2019]” , Alexander V. van Dijl, Financial expert. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8

, Alexander V. van Dijl, Financial expert. See article: “Experts Forecast Bitcoin will rise by 2019”, REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8 2019-04: “[Bitcoin] It’s highly likely to have exceeded $20,000 within a year [by 12-Apr-2019]” , Dan Morehead, CEO of Pantera Capital, https://medium.com/@PanteraCapital/human-nature-is-pro-cyclical-go-against-the-urge-pantera-blockchain-letter-april-2018-300522fe0895

, Dan Morehead, CEO of Pantera Capital, https://medium.com/@PanteraCapital/human-nature-is-pro-cyclical-go-against-the-urge-pantera-blockchain-letter-april-2018-300522fe0895 2019-12: “Reiterating $28,000 target for end-2019 | Do Not take a bet you can’t afford to lose | I surround myself w/ #brightest minds & they all agree w/ me” , Ronnie Moas (@RonnieMoas), 9-Sep-2018, https://twitter.com/RonnieMoas/status/1038580460975255552?ref_src=twsrc%5Etfw

, Ronnie Moas (@RonnieMoas), 9-Sep-2018, https://twitter.com/RonnieMoas/status/1038580460975255552?ref_src=twsrc%5Etfw 2019-12: “Based on expected computing hashpower and breakeven cost growth, that could imply #Bitcoin price of $36,000 by 2019 year end.” , Sam Doctor, Quant Strategist of Fundstrat, 10-May-2018 @ 9:00 AM, https://mobile.twitter.com/fundstratQuant/status/994608007865565185/photo/1

, Sam Doctor, Quant Strategist of Fundstrat, 10-May-2018 @ 9:00 AM, https://mobile.twitter.com/fundstratQuant/status/994608007865565185/photo/1 2019-12: “Result: In 2019, much as it did after prior bear markets, Bitcoin will again rise up and head for new all-time highs [$20K] .” , Juan Villaverde, mathematician at Weiss Ratings, early Jan-019, https://micky.com.au/ratings-agency-bitcoin-price-to-all-time-highs-in-2019/

, Juan Villaverde, mathematician at Weiss Ratings, early Jan-019, https://micky.com.au/ratings-agency-bitcoin-price-to-all-time-highs-in-2019/ 2019-12: “I think by end of next year [2019] it will surpass the all-time high [$20K] “ , Mike Kayamori, the Co-founder and CEO of global blockchain firm, Quoine, late Dec-2018, https://micky.com.au/ratings-agency-bitcoin-price-to-all-time-highs-in-2019/

, Mike Kayamori, the Co-founder and CEO of global blockchain firm, Quoine, late Dec-2018, https://micky.com.au/ratings-agency-bitcoin-price-to-all-time-highs-in-2019/ 2019-12: Morehead’s math also indicated that a $42,000 bitcoin price by the end of 2019 is in the cards. This methodology from Pantera pointed to a $42,000 price by the end of 2019, a $122,000 price by the end of 2020, and a $365,000 price by the end of 2021. Dan Morehead, CEO of Pantera Capital, https://www.forbes.com/sites/ktorpey/2019/07/23/pantera-ceo-42000-bitcoin-price-by-the-end-of-2019-a-good-shot/

Dan Morehead, CEO of Pantera Capital, https://www.forbes.com/sites/ktorpey/2019/07/23/pantera-ceo-42000-bitcoin-price-by-the-end-of-2019-a-good-shot/ 2019-12: “One can call it a bubble, but this time the Bitcoin price range could very well be between 1$60,000 to $100,000 1.” , Naeem Aslam, Coin Shill, 24-Jun-2019, https://www.forbes.com/sites/naeemaslam/2019/06/24/bitcoin-could-100k-be-new-10k/

Keep track of these people, exercising extreme caution at any future calls they might happen to make. Speculation in nascent cryptocurrency markets is a lot fun, but it comes with giant risks. The value of a crypto project, we believe, is through its utility, the problems it hopes to solve. Our bias is toward peer-to-peer electronic cash, and it is, again, a bias. Maybe markets at this point aren’t pricing medium-of-exchange projects as important as we believe they are, marking utility as unimportant at this juncture. Maybe.

Hyper-focusing on Number Go Up and assuring followers the price will only moon, however, is a dangerous and increasingly illegal game. What’s clear by Crypto_To_The_Core’s valuable price prediction documentation (which extends to the entire decade and is worth the read as well) is that no one understands crypto. Something to keep in mind the next time you find yourself filled with fear of missing out.

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DYOR: CoinSpice is your home for just spicy crypto things. We’re not affiliated with any cryptocurrency project or token. Each published piece is intended for information purposes only, not investment advice and not in the hope of impacting speculative markets. There are plenty of trading sites and coin-specific advocacy journals out there, we’re neither. CoinSpice strives for rigorous accuracy in our reporting. Information presented here is contingent usually on a host of factors, and the ecosystem moves fast — prices change, projects change, and at warp speed. Do your own research.

DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.