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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, considers 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 is counting on more institutional investors taking on Bitcoin and also a steady 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 probability of $64,000 at the highest and $20,000 at its cheapest. A couple of days ago, Tom Lee said that the BTC fair value is a lot 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 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 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 considers BTC wont reach$9K this year, and its probably to break beyond $10,000 in the around the first quarter of 2019. This might require 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 by January 2020. He believes that the rate of adoption is directly proportional to the cost increase. The more the adoption rate, the greater the increase in value.
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 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.
He iterated that the industry capital might reach $7 trillion, which may surpass the market cap of gold. .
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Zhao Dong, one of the biggest Bitcoin OTC dealers in China and an influencer recently forecast that Bitcoin could hit $50,000 from 2021. He cautioned that now is the ideal time to invest in BTC and said that you might get a return of 100 to 200% 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 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 crypto derivatives exchange BitMex, on the other hand, have come with an extremely pessimistic bearish prediction. He changed his earlier prediction statement based on the sudden change in the marketplace. Formerly he had stated that BTC has the possibility of reaching $50K at the end of this year, but now he states that BTC will achieve as low as $3K and will continue being bearish for its 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 therefore many past accidents like hacking and thefts. Pros outperformed the cons, hence Bitcoin is still the industry leader, bagging have a peek here the number one position and maintaining its position.
2019 will be bullish for Bitcoin, as by then the adaptability will probably be greater 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. 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 like this 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 reach $23,499, which means that the 2018 bearish trend ends and shifts to navigate to this site the bullish trend.
The cryptocurrency market will experience a industry optimism in 2020, as not only Bitcoin, but each of the significant cryptocurrencies will also experience an upward change. The governments and the central banks will probably embrace the electronic currencies, hence the demand should be .