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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, considers that the break-even cost of mining 1 BTC directly correlates with the purchase price of the cryptocurrency. He believes BTC would increase as he is 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 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 in the highest and $20,000 in its lowest. A few days back, Tom Lee said the BTC fair value is much higher than the current cost.
Ronnie Moas, a cryptocurrency analyst called that BTC might reach $28,000 by 2019. He considers 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 leader and founder of Galaxy Digital stated that he considers that BTC wont reach$9K annually, and its likely to break beyond $10,000 in the around the first quarter of 2019. This might take BTC into sky-reaching heights as 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 thinks that the speed of adoption is directly proportional to the cost increase. The greater the adoption rate, the more the increase in value.
Bobby Lee, CEO of Chinas first exchange- BTCC said before that it'd require 20b years for BTC to achieve 1 million. Now his prediction completely changed. Bobby Lee, the co-founder of BTCC(Hong Kong-based Bitcoin exchange) like it and the brother of Charlie Lee, Litecoin creator gave an extremely bullish prediction but began with bearish though.
He iterated that the industry capital might reach $7 trillion, that might transcend the market cap of gold. .
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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 best 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 stated that BTC could go as low as $3000, and it will continue being bullish starting from 2019. read more 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 a very pessimistic bearish prediction. He changed his earlier prediction statement based on the sudden change in the market. Formerly he had stated that BTC has the prospect of reaching $50K at the end of this calendar year, but now he states 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 think that Bitcoin will soar upward as per the predictions mentioned previously. There are several reasons which resulted in Bitcoins cost fall such as Bitcoins being used site web for illicit purposes and so many previous 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 probably be higher as more people will begin believing in the technology behind Bitcoin. Bitcoin will reach around $20,000 by the mid of 2019. The more the trading, the more the price. Moreover, 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 securely. .
By the end of the year 2019, the Bitcoin cost will hit $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 probably adopt the digital currencies, hence the demand should be more.