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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, believes that the break-even cost 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 a continuous increase in Bitcoin user 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 probability of $64,000 at the highest and $20,000 in its cheapest. A few days ago, Tom Lee said the BTC fair value is much higher than the current price.
Ronnie Moas, a cryptocurrency analyst called that BTC might hit $28,000 by 2019. He considers the demand for BTC would increase with its decreasing supply. He made it somewhat clear that by 2019, the adoption rate would increase and hence people would demand more of it. We must remember 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 stated that he believes BTC wont hit $9K this year, and its likely to break beyond $10,000 in the around the first quarter of 2019. This might take BTC into sky-reaching heights because 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 hit $200,000 by January 2020. He thinks that the speed of adoption is directly proportional to the price increase. The greater the adoption speed, the more the increase in worth.
Bobby Lee, CEO of Chinas first exchange- BTCC said before that it'd require 20b years for BTC to reach 1 million. Now his prediction totally changed. Bobby Lee, the co-founder of my explanation BTCC(Hong Kong-based Bitcoin exchange) and the brother of Charlie Lee, Litecoin founder 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 could hit $50,000 by 2021. He reiterated that now is the best time to invest in BTC and said that you might get a yield of 100 to 200 percent 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 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 cost 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 dependent on the sudden change in the marketplace. Formerly he had stated that BTC has the prospect of reaching $50K by the end of this calendar year, but now he states that BTC will achieve as low as $3K and will continue being bearish for its entire 2019. .
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Even though Bitcoin has been experiencing frequent fluctuations, we think that Bitcoin will soar upward according to the predictions mentioned previously. There are several reasons which led to Bitcoins price fall like Bitcoins being used for illegal purposes and so many previous accidents 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 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 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 could function freely and safely. .
By the end of the year 2019, the Bitcoin cost will reach $23,499, which means that 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 significant cryptocurrencies will even experience an upward shift. The governments and the central banks will embrace the digital currencies, hence the demand needs to be more.