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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 price of mining 1 BTC directly correlates with the price of the cryptocurrency. He believes BTC would increase as he is 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 in Fundsrat along with Lee predicted that by 2019, BTC might reach nothing less than $36,000, with the likelihood of $64,000 in the highest and $20,000 in its cheapest. A couple of days back, Tom Lee stated that the BTC fair value is a lot higher than the current cost.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might reach $28,000 from 2019. He believes 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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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 that BTC wont hit $9K this year, and its likely to split beyond $10,000 in the around the first quarter of 2019. This might take BTC to sky-reaching heights as it may soar way ahead of this all-time-high $20K mark. .
Fran Strajnar comes up with a very optimistic prediction at which he believes that BTC might reach $200,000 from January 2020. He believes that the rate 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 would take 20b years for BTC to achieve $1 million. Now his prediction completely changed. Bobby Lee, the co-founder her latest blog of BTCC(Hong Kong-based Bitcoin exchange) and the brother of Charlie Lee, Litecoin creator gave an extremely bullish prediction but started 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 could reach $50,000 from 2021. He reiterated that now is the best 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 explained 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 based 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 reach 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 up according to the predictions stated above. There are lots of reasons which led to Bitcoins cost fall such as Bitcoins being used for illicit purposes and therefore many past accidents 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 be higher 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 scarce in circulation, i.e.
Additionally, several 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 might function freely and securely. .
From the end of the year 2019, the Bitcoin cost will hit $23,499, which means that the 2018 useful reference bearish trend ends and changes to the bullish trend.
The cryptocurrency market will experience a industry optimism in 2020, as not only Bitcoin, but each of the major cryptocurrencies will also experience an upward shift. The governments and the central banks will probably embrace the digital currencies, hence the demand should be .