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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 price of the cryptocurrency. He considers BTC would increase as he's counting on more institutional investors taking on Bitcoin and 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 in Fundsrat along with Lee predicted that by 2019, BTC might reach nothing less than $36,000, with the likelihood 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 greater than the current cost.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might reach $28,000 by 2019. He considers the demand for BTC would increase with its decreasing supply. He left it somewhat clear 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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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 believes 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 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 by January 2020. He thinks that the speed of adoption is directly proportional to the cost 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 reach $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 began with bearish though.
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Zhao Dong, one of the biggest Bitcoin OTC dealers in China and an influencer recently forecast that Bitcoin could reach $50,000 by 2021. He reiterated that now is the ideal time to invest in BTC and said that you could find a yield of 100 to 200 percent over 3 years if you invest now. .
In a recent tweet, Anthony Pompliano, founder of Morgan Creek said that visit their website Bitcoin isn't going anywhere. He stated that BTC could 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 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 a very pessimistic bearish prediction. He changed his earlier prediction statement based on the sudden change in the marketplace. Formerly he'd stated that BTC has the possibility of reaching $50K at the end of this 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 led to Bitcoins price fall like Bitcoins being used for illicit purposes and so many past 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 be higher as more people will moved here 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 cost. Additionally, as we know, Bitcoins are scarce in circulation, i.e.
Additionally, many countries like the U.S., Japan, and South Korea have shown intense willingness to integrate Bitcoin and other cryptocurrencies into their financial systems by setting up controlled markets which might function freely and securely. .
By 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 significant cryptocurrencies will even experience an upward change. The governments and the central banks will adopt the digital currencies, hence the demand should be more.