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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 this cryptocurrency. He believes BTC would increase as he is counting on more institutional investors taking on Bitcoin and also a steady increase in Bitcoin consumer base.Mr.
He's 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, together with the probability of $64,000 at the maximum and $20,000 at its cheapest. A couple of days ago, Tom Lee stated the BTC fair value is much greater than the current price.
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 supply. He made 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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At 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 BTC wont reach$9K this year, and its probably to split beyond $10,000 in the around the first quarter of 2019. This may require BTC into sky-reaching heights as it might 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 hit $200,000 by January 2020. He believes that the speed of adoption is directly proportional to the cost increase. The more the adoption rate, the more the increase in worth.
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it'd require 20b years for BTC to reach 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 go to this site in China and an influencer recently predicted that Bitcoin could reach $50,000 from 2021. He reiterated that now is the ideal time to invest in BTC and said that you might find a return 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 stated that BTC might 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 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 marketplace. Previously he had stated that BTC has the possibility of reaching $50K by the end of the calendar 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 think that Bitcoin will soar up as per the predictions mentioned previously. There are several reasons which resulted in Bitcoins price fall like Bitcoins being used for illegal purposes and therefore 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 greater find more as more people will begin believing in the technology behind Bitcoin. Bitcoin will reach around $20,000 by the mid of 2019. The more the trading, the more 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. .
From the end of the year 2019, the Bitcoin cost 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 each of the major cryptocurrencies will even experience an upward shift. The click now governments and the central banks will probably embrace the electronic currencies, hence the demand should be .