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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, believes that the break-even cost of mining 1 BTC directly correlates with the purchase price of the cryptocurrency. He believes BTC would increase as he's 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, together with the likelihood of $64,000 in the maximum and $20,000 in its cheapest. A few days back, Tom Lee stated the BTC fair value is a lot greater than the current price.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might reach $28,000 from 2019. He considers 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 must remember 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 chief and founder of Galaxy Digital stated that he considers 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 ahead of the all-time-high $20K mark. .
Fran Strajnar comes up with an extremely optimistic prediction at which he considers that BTC might hit $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'd 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 the brother of you can try here Charlie Lee, Litecoin creator gave an extremely bullish prediction but began with bearish though.
He iterated the industry capital might reach $7 trillion, that might surpass the market cap of gold. .
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Zhao Dong, one of the largest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin might reach $50,000 by 2021. He reiterated that now is the best time to invest in BTC and stated that you could find a return 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 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 market. Previously he had said that BTC has the prospect of reaching $50K at the end of this calendar year, but now he states 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 stated above. There are several reasons which resulted in Bitcoins cost fall such as Bitcoins being used for illegal 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 probably be higher as more people will start believing in the technology behind Bitcoin. Bitcoin will reach up to $20,000 by the mid of 2019. The longer the trading, the more the price. Additionally, as we know, Bitcoins are scarce in circulation, i.e.
Additionally, several 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 regulated markets which might function freely and safely. .
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 shift. The governments and the central banks will embrace the digital currencies, hence the demand needs to be .