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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 this cryptocurrency. He considers 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's 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 in the maximum and $20,000 in its cheapest. A couple of days ago, Tom Lee said the BTC fair value is a lot higher than the current cost.
Ronnie Moas, a cryptocurrency analyst called that BTC might hit $28,000 from 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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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 believes that BTC wont hit $9K this year, and its probably to break beyond $10,000 in the around the first quarter of 2019. This might take BTC into sky-reaching heights as it might soar way before the all-time-high $20K mark. .
Fran Strajnar comes up with a very optimistic prediction at which he believes that BTC might reach $200,000 by January 2020. He believes that the speed of adoption is directly proportional to the cost increase. The greater the adoption rate, the greater the increase in value.
Bobby Lee, CEO of Chinas first exchange- BTCC said before that it would take 20b years for BTC to reach 1 million. Now his prediction completely changed. Bobby Lee, the co-founder of BTCC(Hong Kong-based Bitcoin exchange) and 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 dealers in China and an influencer recently forecast that Bitcoin could hit $50,000 by 2021. He cautioned that now is the ideal time to invest in BTC and said that you could get a yield of 100 to 200 percent over 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, 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 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 market. Previously he'd said that BTC has the possibility of reaching $50K by the end of this year, but now he says that BTC will reach 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 redirected here will soar upward as per the predictions mentioned previously. There are lots of reasons which resulted in Bitcoins cost fall like Bitcoins being used for illicit purposes and so many previous mishaps like hacking and thefts. Pros outperformed the cons, hence Bitcoin is still the industry 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 around $20,000 by the mid of 2019. The longer the trading, the more the price. Additionally, as we know, Bitcoins are rare 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 might function freely and safely. .
From the end of the year 2019, the Bitcoin cost will hit $23,499, which means that the 2018 bearish trend ends and shifts to the bullish trend.
The cryptocurrency market will experience a industry confidence in 2020, as not only Bitcoin, but all the significant cryptocurrencies will also experience an upward change. The governments and the central banks will adopt the electronic currencies, hence the demand should be more.