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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 believes BTC would grow as he is counting on more institutional investors taking on Bitcoin and also a continuous increase in Bitcoin user base.Mr.
He is 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 probability of $64,000 in the maximum and $20,000 at its lowest. A couple of days back, Tom Lee stated the BTC fair value is a lot higher than the current cost.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might reach $28,000 by 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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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 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 might soar way before 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 by January 2020. He thinks that the rate of adoption is directly proportional to the cost increase. The greater the adoption rate, the more the increase in worth.
Bobby Lee, CEO of Chinas first exchange- BTCC stated 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 founder gave an extremely bullish prediction but started with bearish though.
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Zhao Dong, one of the biggest Bitcoin OTC dealers in China and an influencer recently predicted that Bitcoin could reach $50,000 from 2021. He cautioned that now is the best time to invest in BTC and said that you might get a yield of 100 to 200 percent more than 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 official statement that BTC might 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 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 a very pessimistic bearish prediction. He changed his earlier prediction statement based on the sudden change in the marketplace. Previously he'd said that BTC has the possibility of reaching $50K at the end of the year, but now he says that BTC will achieve 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 up according to the predictions mentioned previously. There are lots of reasons which led to Bitcoins price fall like Bitcoins being used for illicit purposes and therefore 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 be higher 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 price. Moreover, 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 could function freely and safely. .
From 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 confidence in 2020, as not only Bitcoin, but each of the major cryptocurrencies will also experience an upward shift. The governments and the central banks will adopt the digital currencies, hence the demand should be .