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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 price of the cryptocurrency. He considers BTC would grow as he is counting on more institutional investors taking on Bitcoin and also a continuous increase in Bitcoin consumer 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, with the probability of $64,000 at the highest and $20,000 at its lowest. A few days ago, Tom Lee stated the BTC fair value is much 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 distribution. He left it somewhat clear 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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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 believes BTC wont hit $9K annually, and its likely to split beyond $10,000 in the around the first quarter of 2019. This may require BTC into sky-reaching heights as it might soar way before this all-time-high $20K mark. .
Fran Strajnar comes up with an extremely optimistic prediction where he believes that BTC might reach $200,000 by January 2020. He thinks that the speed of adoption is directly proportional to the cost increase. The more the adoption speed, 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 totally 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 began 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 might hit $50,000 from 2021. He cautioned that now is the best time to invest in BTC and said that you might get 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 said that BTC could go as low as $3000, after which it will continue being bullish starting from 2019. He enunciated 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 market. Previously he had stated that BTC has the prospect of reaching $50K at the end of the calendar year, but now he says that BTC will achieve 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 will soar up according to the predictions mentioned previously. There are several reasons which resulted in Bitcoins price fall like Bitcoins being used for illegal purposes and so many past mishaps like hacking and thefts. Pros outperformed the cons, hence Bitcoin remains the market leader, bagging address 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 begin believing in the technology behind Bitcoin. Bitcoin will reach around $20,000 by the mid of 2019. The longer the trading, the greater the cost. 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 might function freely and safely. .
From the end of the year 2019, the Bitcoin cost will reach $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 major cryptocurrencies will also experience an upward shift. The governments and the central banks will adopt the electronic currencies, hence the demand needs to be .