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BitPay COO, Sonny Singh says Bitcoin will Bounce Back $15 to 20K Range in 2019

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Despite Bitcoin's sharp plunge last week, Chief commercial officer of BitPay, Sonny Singh, a global crypto payment processor has said in an interview with Bloomberg that Bitcoin will hit $15000 to $20000 in 2019.

Even though Bitcoin sees a fresh low this month, COO Sonny Singh expects another change in the market in 2019 when big names like Fidelity and Intercontinental Exchange(ICE) will launch their crypto-based products.

Singh stated that: "Next year will see new players and miners emerge in the industry. We will not see any rapid shift but by the end of Q1 or Q2, Bitcoin will emerge as a viable commodity. Bitcoin has become mainstream adoption around the world, it has got a great brand reputation."

Singh stated that: "Next year will see new players and miners emerge in the industry. We will not see any rapid shift but by the end of Q1 or Q2, Bitcoin will emerge as a viable commodity. Bitcoin has become mainstream adoption around the world, it has got a great brand reputation."
COO Sonny Singh asked the investors not to look at the price right now but to focus on what is taking place behind the scenes, he said, "Bitcoin has become mainstream adoption around the world and has great brand recognition. We should not look at the price so much but focus on what is happening behind the scenes. We will not see any direction for a long time until something major happens, such as Fidelity, BlackRock, Square or Bakkt launching their products."

When asked how he thinks altcoins will perform in the future, he said, "There's a night and day difference between Bitcoin and everything else. Bitcoin is the under pound gorilla, it's the one that has the mass network effects [the one] the traditional financial incumbents are building products around. Otherwise, I don't know what's going to happen to them."

"Bitcoin has become mainstream adoption around the world and has great brand recognition. We should not look at the price so much but focus on what is happening behind the scenes. We will not see any direction for a long time until something major happens, such as Fidelity, BlackRock, Square or Bakkt launching their products."

Singh asserted that "ICO market is pretty dead" and suggested that increase in the intervention by U.S. SEC (State Exchange Commission) approving the first Bitcoin Exchange Trade Fund (ETF) will take the prices to an all-time high.
Singh also talked about structural changes happening in the crypto market, with established companies like U.S. crypto exchange, wallet provider Coinbase and crypto bank Silvergate preparing themselves for a possible initial public offering (IPO).

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