Despite the recent pullback, bitcoin will continue to grow, analysts predict. Pessimism on traditional markets and the US-Chinese trade war will contribute to bitcoin price surging.

By the end of 2019, bitcoin could rise in price to $25,000, crypto investor Oliver Isaacs believes. According to him, many factors contribute to the bitcoin growth, with geopolitical, technological and regulatory factors among them.

"There are multiple drivers behind the recent resurgence. There are geopolitical, technological and regulatory drivers. The net effect of the trade war between the US and China has led to the sudden interest in bitcoin as a hedge on investments."

According to Isaacs, more investors are starting to consider bitcoin as a “safe haven”. In addition, he also noted that there are signs of growing adoption of cryptocurrency.

Peter Boockvar, director of investments at Bleakley Advisory Group, also forecasts bitcoin rise this year. It coincides with a sharp drop in traditional market performance amid growing concerns about the US-Chinese trade war.

Now the main goal for bitcoin is $10,000. If cryptocurrency succeeds in overcoming this level, further growth will be "fast and furious," says Thomas Lee, co-founder of Fundstrat Global Advisors. According to Lee, if bitcoin rises to $10,000, it will quickly grow to $20,000, and within five months, it is likely to jump to $40,000.

In 2018, when bitcoin lost more than 80% in price, it scared many institutional investors away from the crypto market. Lee believes that this is an expected reaction, given that such a decline in the traditional stock market usually means that there is practically no chance for security to recover. But, according to him, bitcoin is not an ordinary financial instrument.