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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, considers that the break-even cost of mining 1 BTC directly correlates with the price of this cryptocurrency. He considers BTC would increase as he is counting on more institutional investors taking on Bitcoin and also a continuous increase in Bitcoin user base.Mr.
He's 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, with the likelihood of $64,000 in the maximum and $20,000 at its cheapest. A couple of days back, Tom Lee stated the BTC fair value is a lot greater than the current cost.
Ronnie Moas, a cryptocurrency analyst called that BTC might hit $28,000 from 2019. He believes the demand for BTC would increase with its decreasing supply. He left it somewhat obvious that by 2019, the adoption rate would increase and hence people would demand more of it. We have to recall 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 chief and founder of Galaxy Digital said that he considers that BTC wont reach$9K annually, and its likely to break beyond $10,000 in the around the first quarter of 2019. This might require BTC into sky-reaching heights as it may soar way before this all-time-high $20K mark. .
Fran Strajnar comes up with an extremely optimistic prediction at which he believes that BTC might reach $200,000 by January 2020. He thinks that the rate of adoption is directly proportional to the cost increase. The greater the adoption speed, the more the increase in value.
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it'd take 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 largest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin might reach $50,000 from 2021. He reiterated that now is the ideal time to invest in BTC and stated that you could find a return of 100 to 200 percent 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 stated 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 cost 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 dependent on the sudden change in the market. Formerly he had stated that BTC has the possibility of reaching $50K by the end of the calendar year, but now he states that BTC will achieve 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 as per the predictions stated above. There are lots of reasons which resulted in Bitcoins cost fall such as Bitcoins being used for illicit purposes and therefore many past accidents like hacking and thefts. Pros outperformed the cons, hence Bitcoin remains 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 greater as more people will start believing in the technology behind Bitcoin. Bitcoin will reach around $20,000 from the mid of 2019. The longer the trading, the more the price. Additionally, as we know, Bitcoins are scarce 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 controlled markets which could function freely and securely. .
By the More Help end of the year 2019, the Bitcoin price will hit $23,499, which means that the 2018 bearish trend ends and shifts 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 shift. The governments and the central banks will probably adopt the electronic currencies, hence the demand needs to be .