'$20K conservative prediction for Bitcoin in 2019', says OKEx' Andy Cheung

27 May, 2019 | Updated: 27 May, 2019
by Jelmer van der Dussen
Bitcoin
'$20K conservative prediction for Bitcoin in 2019', says OKEx' Andy Cheung

Bitcoin will surpass $20,000 in 2019, head of operations of cryptocurrency exchange Andy Cheung said on Monday. Cheung commented on the price action of Bitcoin following BTC's rise to $8,900.

This latest push means Bitcoin has more than doubled in price since the beginning of 2019, and the best is yet to come. With Fidelity opening up the Bitcoin gates for institutional investors soon, and BTC becoming a popular payment method with major companies such as Whole Foods and AT&T accepting Bitcoin now, it seems the only way is up from here.

That's what Cheung thinks as well. The OKEx Head of Operations said last year that $20,000, Bitcoin's current all-time high, will easily break in the future. Cheung is now repeating that statement, saying that he thinks BTC will see a much higher price this year already.

"$20,000 is a conservative prediction for Bitcoin price in 2019, as I said last year", Cheung said today. "The rally won't stop here, because more institutional investors are coming into the market and the 2020 halving effect starts to take place. We are thrilled to witness such bullish trend and I look forward to a new high the Bitcoin deserves. Bitcoin is not just a coin, but a spirit that hinders the crypto-industry."

On Sunday, another exchange big shot, Binance CEO Changpeng Zhao, also discussed the current state of the market. Just before Bitcoin broke the heavy $8000 resistance, CZ tweeted that he was expecting BTC to march beyond the $8K anytime soon.

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Read more about: Bitcoin (BTC) OKEX

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