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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 price 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 also a steady increase in Bitcoin consumer base.Mr.
He's optimistic that increased institutional fortunes would help turn BTC's future around very soon. Sam Doctor, an analyst from Fundsrat along with Lee predicted that by 2019, BTC might reach nothing less than $36,000, with the likelihood of $64,000 at the maximum and $20,000 in its cheapest. A few days back, Tom Lee said that 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 believes the demand for BTC would increase with its decreasing distribution. He made 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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In 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 break beyond $10,000 in the around the first quarter of 2019. This may require BTC into sky-reaching heights because it might soar way ahead of 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 believes that the rate of adoption is directly proportional to the price increase. The more 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 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 started 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 reiterated that now is the ideal time to invest in BTC and stated that you could find 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 said that BTC could go as low as $3000, and it will continue being bullish starting from 2019. He enunciated there is no reason to freak out on the declining price as Bitcoin's fundamentals are becoming stronger. .
Arthur Hayes, the CEO of 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. Previously he had stated that BTC has the possibility of reaching $50K at the end of the calendar year, but now he states 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 upward as per the click predictions stated above. There are several reasons which resulted in Bitcoins cost fall such as Bitcoins being used for illegal purposes and so many previous mishaps like hacking and thefts. Pros outperformed the cons, hence Bitcoin remains 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 greater as more people will start believing in the technology behind Bitcoin. Bitcoin will reach up to $20,000 by the mid of 2019. The longer the trading, the greater the price. Moreover, as we know, Bitcoins why not try this out are rare in circulation, i.e.
Additionally, several 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. .
From the end of the year 2019, the Bitcoin price 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 optimism in 2020, as not only Bitcoin, but each of the major cryptocurrencies will also experience an upward change. The governments and the central banks will probably embrace the digital currencies, hence the demand needs to be more.