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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research Fundstrat, believes that the break-even cost of mining 1 BTC directly correlates with the purchase price of the cryptocurrency. He believes BTC would grow as he's 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 likelihood of $64,000 at the highest and $20,000 in its lowest. A couple of days ago, Tom Lee said that 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 believes 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 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 said that he believes BTC wont hit $9K this year, and its probably to split beyond $10,000 in the around the first quarter of 2019. This may require BTC to sky-reaching heights because it may soar way ahead of this all-time-high $20K mark. .
Fran Strajnar comes up with an extremely 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 greater the adoption rate, the more the increase in worth.
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 go to the website Kong-based Bitcoin exchange) and also the brother of Charlie Lee, Litecoin founder 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 influencer recently forecast that Bitcoin might reach $50,000 by 2021. He reiterated that now is the ideal time to invest in BTC and stated that you might get 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 said that BTC might go as low as $3000, after which 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 all 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 said that BTC has the prospect of reaching $50K by the end of this calendar year, but now he says 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 mentioned previously. There are several reasons which led to 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 remains the industry leader, bagging the number one position and maintaining its position.
2019 will be bullish for Bitcoin, as by then the adaptability will be greater as more people will begin believing in the technology behind Bitcoin. Bitcoin will reach up to $20,000 by the mid of 2019. The more the trading, the greater the cost. Moreover, as we know, Bitcoins are rare in circulation, i.e.
Additionally, many 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 securely. .
By the end of the year 2019, the Bitcoin cost 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 each of the significant cryptocurrencies will also experience an upward shift. The governments and the central banks will adopt the electronic currencies, hence the demand needs to be .