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Bitcoin price 2019 predictions: Forecasters reveal five BTC price scenarios | City & Business | Finance

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trading is in the green today, with prices at 2pm GMT (UTC) hovering around the £ 3,163.12 ($4,000) price point. At 2.13pm GMT bitcoin exchanged hands for £ 3,177.88 ($4,018.66) on CoinDesk – an upward trend of 0.048 percent. The recent upswing in trading comes after a minor bull run at the start of the week saw prices spike from around £ 2,372.34 ($3,000). And the upwards movement comes as a welcome Christmas surprise after prices crashed mid-November from highs of over £ 4,745.28 ($6,000).

Between the night of November 13 and the morning of December 16, bitcoin plummeted about 50 percent in value, crashing from about £ 4,903.46 ($6,200) to £ 2,530.82 ($3,200).

David Thomas, director and co-founder of London-based crypto broker GlobalBlock, labelled 2018 so-far a “frankly dreadful” year for cryptocurrency.

The crypto expert said: “The cryptocurrency industry has to date been viewed as the wild west; an analogy that is regularly wheeled out in any new immature financial market sector.

“Governments and institutions have been looking at the space over the last year and are poising themselves to make big moves, but hesitancy is the dominant force at present until assessment is made on how best to introduce regulation.”

So, with this in mind, what are crypto experts saying will happen to bitcoin in 2019?

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Bitcoin price forecast: BTC price chart

Bitcoin price forecast: Five experts shared their BTC 2019 predictions (Image: GETTY/COINDESK)

Five bitcoin price predictions for 2019

Crypto predictions for the next year range from dire to extremely optimistic, with some experts expecting a total crash of bitcoin trading.

Bitcoin has continually fallen during 2018

David Thomas, GlobalBlock

Mike Novogratz, the former Goldman Sachs fund manager and founder of Galaxy Digital, finds himself in the positive camp of bitcoin forecasts.

Mr Thomas said: “Mike Novogratz has given various predictions throughout 2018 which have been scrutinised, particularly as some of these have been less than accurate.

“Nevertheless, in a recent soundbite he suggests that it’s realistic to expect Bitcoin to reach US $20,000 next year.”

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Sonny Singh, the CCO of bitcoin payment service Bitpay, believes bitcoin can claw its way back to its 2017 peak prices of £ 15,815.30 ($20,000).

Mr Singh was quoted saying it is “reasonable” for bitcoin in 2019 to work its way back up the ladder.

On the pessimistic end of the spectrum, the founder of bitcoin cash Calvin Ayre, fears bitcoin will lose all value in 2019 and bottom out at £0 ($0)

Mr Thomas said: “This doesn’t reflect an overall bearish attitude towards crypto but more a belief that bitcoin has now been superseded by more scalable technology and solutions.”

Fundstrat chiefs Tom Lee and Sam Doctor, however, have claimed bitcoin can smash all expectations and smash at £28,468.08 ($36,000) in 2019.

According to Mr Thomas, the bitcoin forecast could be challenging for the Fundstrat duo, considering their past failed btc predictions.

To round off the list of bitcoin price forecasts, Mr Thomas took a more moderately motive approach and said, in his opinion, bitcoin can top the year between £ 6,323.36 and £ 7,904.20 ($8,000 and $10,000).

He said: “With the highs of December 2017 feeling like a lifetime ago, bitcoin has continually fallen during 2018.

Bitcoin 2019 forecast: BTC token

Bitcoin 2019 forecast: One crypto expert things bitcoin will hit rock bottom (Image: GETTY)

Bitcoin 2019 forecast: BTC token

Bitcoin 2019 forecast: Some predictions suggest bitcoin will return to $20,000 (Image: GETTY)

“If we look at previous trends it takes on average around 67 weeks for bitcoin to recover and proceed to new all-time highs.

“If you follow this logic, then bitcoin would be heading towards US $20,000 in the second quarter of 2019.

“However, this is highly optimistic and whilst such highs should be reached again in the future, this short timeframe isn’t realistic given the hesitancy that will exist from a bruised investor base after this year.

“With positive news, ETFs and regulation, we believe bitcoin will recover to the US $8000 to $10000 levels during 2019 which given where it is today would on balance be a decent year.”

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Canadian Tire and NuPort Robotics to commercialize Canada’s first automated heavy duty trucks

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Canadian Tire Corporation and Toronto based start-up NuPort Robotics, Canada’s first autonomous trucking company, are partnering with the Ontario government to invest $3 million to undertake an automated heavy duty trucking project to test a “first-of-its-kind-in-the-world” technology. 

The breakthrough technology provides a transportation solution for the middle mile, the short-haul shuttle runs that semi-tractor trailers make between distribution centres, warehouses and terminals each day.

It is designed to enable next-generation automated trucks that are more fuel efficient, safer to operate, and provide an enhanced driver experience.

Backed by $1 million in support from the Ontario government through Ontario’s Autonomous Vehicle Innovation Network and matched by $1 million investments from Canadian Tire and NuPort Robotics, respectively, the two-year project is applying proprietary, artificial intelligence technology from NuPort Robotics to retrofit two conventional semi-tractor trailers – which will always be attended by a driver – with high-tech sensors and controls, a touchscreen navigation system, and other advanced features such as obstacle and collision avoidance.

Caroline Mulroney, Minister of Transportation, says: “Ontario is proud to be a global leader in automated and connected vehicle technology and this innovative project is an exciting milestone toward automated vehicle tech in the trucking industry.

“Ontarians rely on goods being delivered by trucks across the province every day and projects like this are demonstrating the ways that automated truck technology could help businesses meet delivery demands more efficiently while supporting a strong supply chain in Ontario.”

Vic Fedeli, Ontario Minister of Economic Development, Job Creation and Trade, says: “This project applies unique and made-in-Ontario Artificial Intelligence technology that offers increased safety and efficiency, with a reduced carbon footprint, to the goods supply chains on which we all rely.

“This is the latest example of how Ontario’s Autonomous Vehicle Innovation Network acts as a catalyst, fostering partnerships between ambitious technology start-ups and industry to develop and commercialize next generation transportation technologies that strengthen our economy and benefit society.”

Raghavender Sahdev, CEO of NuPort Robotics, says: “The trucks are currently transporting goods between a Canadian Tire distribution centre in the Greater Toronto Area and nearby rail terminals within a 12.5 mile radius, and early results are promising.

“The aim of the project is to develop a system that incorporates an autopilot feature for conventional trucks with a driver, leading to the most efficient way to drive and increase safety.

“The sensors work as a ‘safety cocoon’ to cover blind spots and prevent accidents and the end result is peak fuel efficiency, meaning lower carbon emissions, and peak driving performance for an overall more optimal transportation experience.”

NuPort Robotic’s approach to autonomous trucking is unique in the industry because it focuses only on solving the middle mile challenge, using a known set of predetermined trucking routes that are repetitive and high frequency as opposed to general highway driving.

Ultimately, when implemented on fixed routes in the future, Canadian Tire will benefit from faster commercial deployments and improvements in supply chain sustainability.

Gary Fast, vice-president of transportation, Canadian Tire, says: “Canadian Tire embraces innovation and is always testing new technologies to improve our operational efficiency and safety.

“As proud Canadian companies, the safety of all stakeholders, including drivers, employees, customers, and public will be the top priority as we work together towards deployment of this technology.”

Cari Covent, vice president of intelligent automation, Canadian Tire, says: “Over the last three years, Canadian Tire has made a significant effort to solve complex business problems by using the Canadian start-up Artificial Intelligence ecosystem, and NuPort Robotics exemplifies what we look for in a start-up with a focus on innovation, automation and artificial intelligence.”

Sahdev says: “As NuPort Robotics continues to develop new technologies to overcome middle mile supply chain problems and advance autonomous trucking, I am extremely grateful for the support of the Ontario Government through AVIN and the Ontario Centre of Innovation.

“With their continued support, we are striving to position Canada as the leader in autonomous transportation.”

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Constellation Software is money in the bank, this fund manager says

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If you’re looking for a long-term hold in Canadian tech then Constellation Software (Constellation Software Stock Quote, Chart, News, Analysts, Financials TSX:CSU) should definitely be on your radar. So says Jason Del Vicario of Hillside Wealth Management who likes not only Constellation but its recent spin-off Topicus (Topicus Stock Quote, Chart, News, Analysts, Financials TSXV:TOI) which Del Vicario says could do even better than CSU over the next ten years.

Software consolidator Constellation has been running on the same game plan for years, buying small vertical market software companies providing so-called mission critical software solutions globally. Over the years CSU has completed over 500 such acquisitions, buying the top names in their respective niche verticals and then using its clout and breadth to grow the business and expand into new markets. The resulting cash flow is then plowed back into more acquisitions and the cycle repeats.

The strategy has worked wonders for Constellation, which has grown its revenue from $631 million in 2010 to almost $4 billion for 2020 while taking earnings from $4.12 per share in 2010 to $20.59 per share this past year.

Shareholders were given a special treat last month when Constellation spun out recently acquired Topicus, giving CSU owners about 1.9 Topicus shares for every Constellation share as a dividend-in-kind. Constellation bought Netherlands-based software company Total Specific Solutions BV (or TSS) in 2013 and that subsidiary recently acquired Topicus BV, a Dutch information service company focusing on sectors such as healthcare, education and finance.

Topicus was singled out by Constellation founder Mark Leonard for its ability to grow without using outside shareholder funding. Leonard said the spin-out was part of the intention since a purchase agreement was struck last year.

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Nuvei wins price target raise from National Bank

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Strong quarterly results and an even brighter outlook for 2021 are reasons to celebrate for Canadian payments company Nuvei (Nuvei Stock Quote, Chart, News, Analysts, Financials TSX:NVEI), according to National Bank Financial analyst Richard Tse. In an update to clients on Wednesday, Tse left his rating unchanged at “Outperform” while raising his price target from C$85.00 to C$100.00.

Montreal-headquartered Nuvei is a provider of payment technology solutions to merchants and partners around the world, with a platform geared for high-growth mobile commerce and e-commerce markets. Nuvei’s solutions include a fully integrated payments engine with global processing capabilities, a turnkey checkout solution and a suite of data-driven business intelligence and risk management tools and services.

The company released its fourth quarter and full year 2020 financials on Wednesday, showing Q4 revenue of $115.9 million, up 46 per cent year-over-year, and adjusted EBITDA of $51.3 million, up 61 per cent year-over-year. Total dollar value of transactions processed by merchants (‘total volume’) with Nuvei rose by 53 per cent to $13.9 billion. (All figures in US dollars except where noted otherwise.)

The 2020 year featured revenue up 53 per cent to $375.0 million and adjusted EBITDA up 87 per cent to $163.0 million, with total volume rising a full 76 per cent year-over-year to $43.2 billion.

“Our performance continues to be driven by strong momentum in the high-growth verticals we serve, as well as by our customizable, scalable and feature-rich technology platform which provides one of the industry’s most complete payment technology solutions going well beyond merchant acquiring,” said Philip Fayer, chairman and CEO, in a press release.

The company said the fourth quarter represented the strongest growth yet experienced by Nuvei, driven by wallet share expansion from current merchants along with accelerated uptake of new merchants. New e-commerce business almost tripled compared to a year earlier, Nuvei said, while the company expanded its connectivity coverage over the quarter, introduced new product innovations on its platform and continued to execute on M&A.

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