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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 cost of mining 1 BTC directly correlates with the price of the cryptocurrency. He considers BTC would grow as he is counting on more institutional investors taking on Bitcoin and also a continuous 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 likelihood of $64,000 at the maximum and $20,000 in its lowest. A couple of days ago, Tom Lee said the BTC fair value is much higher than the current price.
Ronnie Moas, a cryptocurrency analyst called that BTC might reach $28,000 by 2019. He considers the demand for BTC would increase with its decreasing distribution. He left 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 said that he considers that BTC wont hit $9K this year, and its probably to break beyond $10,000 in the around the first quarter of 2019. This may require BTC into sky-reaching heights as it might soar way ahead of this all-time-high $20K mark. .
Fran Strajnar comes up with a very optimistic prediction at which he considers that BTC might hit $200,000 from January 2020. He believes that the speed of adoption is directly proportional to the price increase. The greater the adoption rate, the greater the increase in worth.
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 completely changed. Bobby Lee, the co-founder of BTCC(Hong Kong-based Bitcoin exchange) and the brother of Charlie Lee, Litecoin founder 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 might reach $50,000 from 2021. He reiterated that now is the best time to invest in BTC and said that you might get a return 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 could go as low as $3000, and it will continue being bullish starting from 2019. He enunciated there is no check my reference 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 dependent on the sudden change in the marketplace. Formerly he'd stated that BTC has the possibility of reaching $50K by the end of this calendar year, but now he states that BTC will reach 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 think that Bitcoin will soar up as per the predictions stated above. There are several reasons which led to Bitcoins price fall like Bitcoins being used for illicit purposes and so many previous accidents like hacking and thefts. Pros outperformed the cons, hence Bitcoin is still 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 greater as this page more people will begin believing in the technology behind Bitcoin. Bitcoin will reach up to $20,000 from the mid of 2019. The longer the trading, the greater the price. Moreover, as we know, Bitcoins are scarce 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 might function freely and securely. .
From the end of the year 2019, the Bitcoin price 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 optimism in 2020, as not only Bitcoin, but all the major cryptocurrencies will even experience an upward change. The governments and the central banks will probably embrace the digital currencies, hence the demand should webpage be more.