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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 price of this cryptocurrency. He considers BTC would grow as he's 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 very soon. Sam Doctor, an analyst in Fundsrat along with Lee predicted that by 2019, BTC might reach nothing less than $36,000, with the likelihood of $64,000 at the highest and $20,000 at its cheapest. A few days ago, Tom Lee said that the BTC fair value is a lot higher than the current price.
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 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 leader and founder of Galaxy Digital stated that he believes BTC wont hit $9K this year, and its probably to split beyond $10,000 in the around the first quarter of 2019. This might take BTC to sky-reaching heights because it might soar way before the all-time-high $20K mark. .
Fran Strajnar comes up with a very optimistic prediction at which he considers that BTC might reach $200,000 from January 2020. He thinks that the rate of adoption is directly proportional to the cost increase. The greater the adoption speed, the greater the increase in value.
Bobby Lee, CEO of Chinas first exchange- BTCC said before that it would 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 also 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 largest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin could reach $50,000 from 2021. He cautioned that now is the ideal time to invest in BTC and said that you might get a return of 100 to 200% 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, after which 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 an extremely pessimistic bearish prediction. He changed his earlier prediction statement based on the sudden change in the market. Formerly he'd stated that BTC has the possibility of reaching $50K at the end of this calendar year, but now he says that BTC will reach 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 believe that Bitcoin will soar up as per the predictions stated above. There are several reasons which resulted in Bitcoins price fall like Bitcoins being used for illegal purposes and so many past accidents like hacking and thefts. Pros outperformed the cons, hence Bitcoin remains the market 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 begin believing in the technology behind Bitcoin. Bitcoin will reach up to $20,000 from the mid of 2019. The more the trading, the greater the cost. Moreover, as we know, Bitcoins are rare original site 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. .
From the end of the year 2019, the Bitcoin price will hit $23,499, which means that the 2018 bearish trend ends and shifts to the bullish trend.
The cryptocurrency market will experience a industry optimism in 2020, as not only Bitcoin, but each of the major cryptocurrencies will even experience an upward shift. The governments and the central banks will probably embrace the electronic currencies, hence the demand should be more.