"$20,000 is a conservative prediction for Bitcoin price in 2019,” Andy Cheung, OKEx senior executive

According to the head of operations at OKEx, a cryptocurrency exchange Andy Cheung, Bitcoin $20,000 prediction in 2019 is quite conservative. Cheung says that the rally is not going to hit the brake pedal at this level. Coupled with the 2020 halving event the crypto is likely to hit higher highs.

"$20,000 is a conservative prediction for Bitcoin price in 2019, as I said last year," said Andy Cheung, Head of Operations of OKEx. "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."

In the meantime, Bitcoin is in the middle of a bull rally. It recently corrected towards $9,000 but formed a high at $8,944.70. The market is still aware that Bitcoin hit lows around $3,146 in December 2018; a very large margin from the all-time-high close to $20,000. The bullish rally in 2019 has seen Bitcoin more than double its value.