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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research Fundstrat, considers that the break-even cost of mining 1 BTC directly correlates with the purchase price of the cryptocurrency. He considers BTC would grow as he's counting on more institutional investors taking on Bitcoin and a continuous 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, with the probability of $64,000 in the maximum and $20,000 in its cheapest. A couple of days back, Tom Lee said that the BTC fair value is much higher than the current cost.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might reach $28,000 by 2019. He believes the demand for BTC would increase with its decreasing distribution. 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 chief and founder of Galaxy Digital stated that he considers that BTC wont hit $9K annually, and its likely to break beyond $10,000 in the around the first quarter of 2019. This may require BTC to sky-reaching heights as it may 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 price 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 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 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 biggest Bitcoin OTC traders 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 stated that you could find a yield 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 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 all 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 market. Formerly he'd stated that BTC has the prospect of reaching $50K at the end of this 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 think that Bitcoin will soar upward as per the my review here predictions stated above. There are lots of reasons which led to Bitcoins price fall such as Bitcoins being used my website for illicit 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 greater as more people will start believing in the technology behind Bitcoin. Bitcoin will reach around $20,000 from the mid of 2019. The longer the trading, the greater the cost. 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 could function freely and safely. .
From the end of the year 2019, the Bitcoin price will reach $23,499, which means that the 2018 bearish trend ends and shifts 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 even experience an upward shift. The governments and the central banks will probably embrace the digital currencies, hence the demand needs to be .