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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research Fundstrat, believes that the break-even price of mining 1 BTC directly correlates with the purchase price of the cryptocurrency. He believes BTC would increase 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 very soon. Sam Doctor, an analyst in Fundsrat along with Lee predicted that by 2019, BTC might reach nothing less than $36,000, together with the probability of $64,000 in the highest and $20,000 in its lowest. A couple of days back, Tom Lee stated that the BTC fair value is a lot greater than the current cost.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might hit $28,000 by 2019. He considers the demand for BTC would increase with its decreasing distribution. He made it somewhat clear that by 2019, the adoption rate would increase and hence people would demand more of it. We must recall that BTC is not unlimited in supply. .
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In the Finance Disrupted event organized by The Economist in Manhattan Mike Novogratz, former hedge fund leader and founder of Galaxy Digital stated that he believes that BTC wont hit $9K this year, and its likely to break beyond $10,000 in the around the first quarter of 2019. This may take BTC into sky-reaching heights as it might soar way before this all-time-high $20K mark. .
Fran Strajnar comes up with a very optimistic prediction at which he considers that BTC might reach $200,000 by January 2020. He thinks that the speed of adoption is directly proportional to the cost increase. The more the adoption speed, the more the increase in worth.
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it would require 20b years for BTC to achieve $1 million. Now his prediction completely changed. Bobby Lee, the co-founder of BTCC(Hong Kong-based Bitcoin exchange) and the brother of Charlie Lee, Litecoin creator gave an extremely bullish prediction but began 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 cautioned that now is the best time to invest in BTC and stated that you might find a yield of 100 to 200% over 3 years if you invest now. .
In a recent tweet, Anthony Pompliano, founder of Morgan Creek said that Bitcoin isn't going anywhere. He said that BTC might go as low as $3000, and it will continue being bullish starting from 2019. He enunciated that 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 an extremely pessimistic bearish prediction. He changed his earlier prediction statement based on the sudden change in the marketplace. Previously he had stated that BTC has the prospect of reaching $50K at the end of the calendar year, but now he says that BTC will achieve as low as $3K and will continue being bearish to its entire 2019. .
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Even though Bitcoin has been experiencing frequent fluctuations, we believe that Bitcoin will soar up as per the predictions mentioned previously. There are lots of reasons which resulted in Bitcoins cost fall such as Bitcoins being used for illicit purposes and so many past mishaps like hacking and thefts. Pros outperformed the cons, hence Bitcoin is still the market leader, bagging the number one position and maintaining its position.
2019 will be bullish for Bitcoin, as by then the adaptability will be higher as more people will start believing in the technology behind Bitcoin. Bitcoin will reach up to $20,000 by the mid of 2019. The more the trading, the greater the cost. Additionally, as we know, Bitcoins are rare in circulation, i.e.
Additionally, several countries like the U.S., Japan, and South Korea have shown extreme willingness to integrate Bitcoin and other cryptocurrencies into their financial systems by setting up regulated markets which might function freely and securely. .
By 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 industry confidence in 2020, as not only Bitcoin, but all the major cryptocurrencies will also experience an upward change. The governments and the central banks will probably adopt the digital currencies, hence the demand recommended you read should be more.