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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, believes that the break-even cost of mining 1 BTC directly correlates with the purchase price of this cryptocurrency. He believes BTC would increase as he's counting on more institutional investors taking on Bitcoin and also a steady increase in Bitcoin user 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, with the probability of $64,000 at the highest and $20,000 in its cheapest. A few days back, Tom Lee said the BTC fair value is much higher than the current price.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might hit $28,000 from 2019. He considers the demand for BTC would increase with its decreasing distribution. He left it somewhat obvious 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 chief and founder of Galaxy Digital stated that he believes BTC wont hit $9K this year, and its probably to break beyond $10,000 in the around the first quarter of 2019. This may take BTC into sky-reaching heights because it might soar way before the all-time-high $20K mark. .
Fran Strajnar comes up with a very optimistic prediction at which he considers that BTC might reach $200,000 from January 2020. He thinks that the speed of adoption is directly proportional to the price increase. The more the adoption rate, the greater the increase in worth.
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it would take 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 founder 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 forecast that Bitcoin might hit $50,000 from 2021. He reiterated that now is the best time to invest in BTC and stated that you could find a yield of 100 to 200% more than 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 could go as low as $3000, after which 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 visite site 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. Previously he had stated that BTC has the prospect of reaching $50K at the end of the year, but now he says that BTC will reach as low as $3K and will continue being bearish for the 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 mentioned previously. There are several reasons which resulted in Bitcoins price fall such as Bitcoins being used for illicit purposes and so many previous 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 probably be higher as more people will begin 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 rare in circulation, i.e.
Additionally, many 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 could function freely and safely. .
By the end of the year 2019, the Bitcoin price will reach $23,499, which means that the 2018 bearish trend ends and changes to the bullish trend.
The cryptocurrency market will experience a industry optimism in 2020, as not only Bitcoin, but all the major cryptocurrencies will even experience an upward shift. The governments and the central banks will adopt the electronic currencies, hence the demand needs to be more.