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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 price 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 steady increase in Bitcoin consumer 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 highest and $20,000 at its cheapest. A couple of days back, Tom Lee stated the BTC fair value is much higher than the current cost.
Ronnie Moas, a cryptocurrency analyst called that BTC might hit $28,000 by 2019. He considers the demand for BTC would increase with its decreasing distribution. He made 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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In the Finance Disrupted event organized by The Economist in Manhattan Mike Novogratz, former hedge fund chief and founder of Galaxy Digital said that he believes that BTC wont hit $9K this year, and its probably to split beyond $10,000 in the around the first quarter of 2019. This might take BTC into sky-reaching heights because it may soar way before the all-time-high $20K mark. .
Fran Strajnar comes up with an extremely optimistic prediction where he considers that BTC might reach $200,000 from January 2020. He believes that the speed of adoption is directly proportional to the price increase. The greater the adoption speed, the greater the increase in value.
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it'd take 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.
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Zhao Dong, one of the largest Bitcoin OTC traders in China and an Website influencer recently predicted that Bitcoin could hit $50,000 by 2021. He reiterated that now is the best time to invest in BTC and stated that you might find a yield of 100 to 200% over 3 years if you invest now. .
In a recent tweet, Anthony Pompliano, founder of Morgan Creek explained that Bitcoin isn't going anywhere. He stated that BTC might go as low as $3000, and it will continue being bullish starting from 2019. He enunciated 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 a very pessimistic bearish prediction. He changed his earlier prediction statement dependent on the sudden change in the marketplace. Formerly he had stated that BTC has the possibility of reaching $50K by the end of the 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 upward according to the predictions mentioned previously. There are several reasons which resulted in Bitcoins price fall like Bitcoins being used for illegal purposes and so many previous mishaps like hacking and thefts. Pros outperformed the cons, hence Bitcoin remains the market leader, bagging the number one position and maintaining its position.
2019 will be bullish for Bitcoin, as directory 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. Moreover, 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 could function freely and securely. .
By 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 market confidence in 2020, as not only Bitcoin, but all the major cryptocurrencies will also experience an upward change. The governments and the central banks will probably embrace the digital currencies, hence the demand needs to be more.