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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 price of mining 1 BTC directly correlates with the purchase price of this cryptocurrency. He believes BTC would grow as he is counting on more institutional investors taking on Bitcoin and also 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, with the probability of $64,000 at the maximum and $20,000 in its cheapest. A couple of days ago, Tom Lee said the BTC fair value is much higher than the current cost.
Ronnie Moas, a cryptocurrency analyst called that BTC might hit $28,000 from 2019. He believes the demand for BTC would increase with its decreasing supply. He left it somewhat obvious that by 2019, the adoption rate would increase and hence people would demand more of it. We have to remember 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 considers BTC wont reach$9K this year, and its likely to split beyond $10,000 in the around the first quarter of 2019. This might require BTC to sky-reaching heights as it might soar way ahead of the all-time-high $20K mark. .
Fran Strajnar comes up with an extremely optimistic prediction at which he believes that BTC might hit $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 more the increase in value.
Bobby Lee, CEO of Chinas first exchange- BTCC stated 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 started 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 by 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 percent over 3 years if you invest now. .
In a recent tweet, Anthony Pompliano, founder of Morgan Creek said that Bitcoin isn't going anywhere. He stated that BTC might go as low as $3000, and 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 a very pessimistic bearish prediction. He changed his earlier prediction statement dependent on the sudden change in the market. Formerly he had said that BTC has the prospect of reaching $50K by the end of the year, but now he says that BTC will reach 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 think that Bitcoin will soar upward according to the predictions stated above. There are several reasons which resulted in Bitcoins price fall like Bitcoins being used for illicit purposes and so many previous accidents like hacking and this article 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 higher as more people will start believing in the technology behind Bitcoin. Bitcoin will reach up to $20,000 by the mid of 2019. The more the trading, the greater the cost. Additionally, as we know, Bitcoins are scarce in circulation, i.e.
Additionally, several 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 hit $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 all the major cryptocurrencies will even dig this experience an upward change. The governments and the central banks will probably adopt the digital currencies, hence the demand needs to be more.