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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research Fundstrat, considers that the break-even price of mining 1 BTC directly correlates with the price of this cryptocurrency. He believes BTC would grow as he's counting on more institutional investors taking on Bitcoin and a steady increase in Bitcoin consumer base.Mr.
He is optimistic that increased institutional fortunes would help turn BTC's future around quite soon. Sam Doctor, an analyst from Fundsrat along with Lee predicted that by 2019, BTC might reach nothing less than $36,000, together with the probability of $64,000 at the highest and $20,000 at its lowest. A few days back, Tom Lee said that the BTC fair value is a lot higher than the current cost.
Ronnie Moas, a cryptocurrency analyst called that BTC might reach $28,000 by 2019. He believes the demand for BTC would increase with its decreasing distribution. He made it somewhat obvious that by 2019, the adoption rate would increase and hence people would demand more of it. We have to remember that BTC is not unlimited in supply. .
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At the Finance Disrupted event organized by The Economist in Manhattan Mike Novogratz, former hedge fund leader and founder of Galaxy Digital said that he considers BTC wont reach$9K annually, and its probably to split beyond $10,000 in the around the first quarter of 2019. This may take BTC to sky-reaching heights as it may soar way ahead of this all-time-high $20K mark. .
Fran Strajnar comes up with a very optimistic prediction at which he believes that BTC might reach $200,000 from January 2020. He believes that the rate of adoption is directly proportional to the cost increase. The more the adoption speed, the more the increase in value.
Bobby Lee, CEO of Chinas first exchange- BTCC said before that it would require 20b years for BTC to achieve 1 million. Now his prediction totally changed. Bobby Lee, the co-founder of BTCC(Hong Kong-based Bitcoin exchange) and also the brother of Charlie Lee, Litecoin creator gave an extremely bullish prediction but started with bearish though.
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Zhao Dong, one of the biggest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin could hit $50,000 from 2021. He reiterated that now is the best time to invest in BTC and said that you could find a yield of 100 to 200% over 3 years if you invest now. .
In a recent tweet, Anthony Pompliano, founder of Morgan Creek explained that Bitcoin isn't going anywhere. He said that BTC might go as low as $3000, after which it will continue being bullish starting from 2019. He enunciated there is no reason to freak out on the declining price as Bitcoin's fundamentals are becoming stronger. .
Arthur Hayes, the CEO of all crypto derivatives exchange BitMex, on the other hand, have come with a very pessimistic bearish prediction. He changed his earlier prediction statement dependent on the sudden change in the market. Formerly he'd said that BTC has the possibility of reaching $50K by the end of the year, but now he states that BTC will reach as low as $3K and will continue being bearish for its entire 2019. .
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Even though Bitcoin has been experiencing frequent fluctuations, we believe that Bitcoin will soar upward according to the predictions stated above. There are several reasons which resulted in Bitcoins cost fall such as Bitcoins being used for illicit purposes and therefore many previous mishaps like hacking and thefts. Pros outperformed the cons, hence Bitcoin remains the industry leader, bagging the number one position and maintaining its position.
2019 will be bullish for Bitcoin, as by then the adaptability will probably be higher as more people will start believing in official statement the technology behind Bitcoin. Bitcoin will reach up to $20,000 by the mid of 2019. The more the trading, the greater the price. Additionally, as we know, Bitcoins are rare in circulation, i.e.
Additionally, many countries like the U.S., Japan, and South Korea have shown extreme willingness to advice integrate Bitcoin and other cryptocurrencies into their financial systems by setting up regulated markets which might function freely and safely. .
From the end of the year 2019, the Bitcoin cost will hit $23,499, which means that the 2018 bearish trend ends and changes to the bullish trend.
The cryptocurrency market will experience a market confidence in 2020, as not only Bitcoin, but all the significant cryptocurrencies will also experience an upward change. The governments and the central banks will embrace the digital currencies, hence the demand should be more.