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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 price of this cryptocurrency. He considers BTC would grow as he is 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 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 probability of $64,000 at the highest and $20,000 in its lowest. A few days ago, Tom Lee stated the BTC fair value is much higher than the current price.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might hit $28,000 by 2019. He considers the demand for BTC would increase with its decreasing distribution. He left it somewhat obvious 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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In the Finance Disrupted event organized by The Economist in Manhattan Mike Novogratz, former hedge fund chief and founder of Galaxy Digital said that he considers that BTC wont reach$9K annually, and its probably to break beyond $10,000 in the around the first quarter of 2019. This might require BTC to sky-reaching heights because it may soar way ahead of this all-time-high $20K mark. .
Fran Strajnar comes up with a very optimistic prediction where he considers that BTC might hit $200,000 from 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 require 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 creator gave an extremely bullish prediction but started with bearish though.
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Zhao Dong, one of the biggest Bitcoin OTC dealers in China and an influencer recently predicted that Bitcoin could reach $50,000 from 2021. He reiterated that now is the ideal time to invest in BTC and said that you could get a return of 100 to 200% over 3 years if you invest now. .
In a recent tweet, Anthony Pompliano, Read Full Article founder of Morgan Creek explained that Bitcoin isn't going anywhere. He stated that BTC could 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 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. Previously he'd said that BTC has the possibility of reaching $50K by the end of the year, but now he says that BTC will achieve as low as $3K and will continue being bearish to the entire 2019. .
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Even though Bitcoin has been experiencing frequent fluctuations, we think that Bitcoin will soar up as per the predictions stated above. There are several reasons which led to Bitcoins price fall such as Bitcoins being used for illicit purposes and therefore 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 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 greater the price. Moreover, as we know, Bitcoins are scarce 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 controlled markets which could function freely and securely. .
By the end of the year 2019, the Bitcoin cost will hit $23,499, which means that why not look here 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 all the major cryptocurrencies will also experience an upward change. The governments and the central banks will probably adopt the electronic currencies, This Site hence the demand should be .