This Analyst Believes Bitcoin’s Price Could Reach $141,000

By the end of 2019, analyst Kevin Chang thinks that the price of Bitcoin may hit $141,000. He thinks that Bitcoin is still undervalued and that its present price is too low. He believes that cryptocurrencies will be used in the future as a store of value.

Business Insider reports that Chang made these remarks on December 4 during an appearance with CNBC's Crypto Trader program.

Chang stated:

The price of bitcoin has been $6,500 over the previous six months. Simply said, this is unsustainable since everyone has been anticipating it to increase tenfold or a hundredfold throughout this time, but that hasn't happened. Although there has been some price fluctuation throughout this time, we believe that volatility will persist as long as there are individuals who want to keep onto bitcoin and do not want to sell it in order to hang onto it for an additional year or two.

He continued, saying:

Because so many individuals are still waiting for this price point before starting to purchase, we anticipate that Bitcoin may reach $141,000 by the end of 2019 if demand persists.