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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 purchase price of the cryptocurrency. He considers BTC would grow as he's counting on more institutional investors taking on Bitcoin and a continuous increase in Bitcoin user 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, together with the probability of $64,000 at the highest and $20,000 at its lowest. A couple of days back, Tom Lee said that the BTC fair value is much greater 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 obvious 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 that BTC wont reach$9K annually, and its probably to break beyond $10,000 in the around the first quarter of 2019. This may require BTC to sky-reaching heights as it may soar way ahead of the all-time-high $20K mark. .
Fran Strajnar comes up with a very optimistic prediction at which he believes that BTC might hit $200,000 by January 2020. He believes that the rate of adoption is directly proportional to the price increase. The greater the adoption rate, the greater the increase in value.
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it would 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 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 biggest Bitcoin OTC dealers in China and an influencer recently predicted that Bitcoin could reach $50,000 from 2021. He cautioned that now is the best time to invest in BTC and stated 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 read this article Morgan Creek said that Bitcoin isn't going anywhere. He stated that BTC might 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 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 prospect of reaching $50K at the end of the calendar year, but now he says that BTC will reach as low as $3K click to read and will continue being bearish to 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 lots of reasons which led to Bitcoins cost fall such as Bitcoins being used for illegal purposes and therefore many past 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 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 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 safely. .
By the end of the year 2019, the Bitcoin price will hit $23,499, which means that the 2018 bearish trend ends and changes to the bullish trend.
The Gainbitcoin Wiki cryptocurrency market will experience a industry confidence in 2020, as not only Bitcoin, but all the major cryptocurrencies will also experience an upward shift. The governments and the central banks will probably adopt the electronic currencies, hence the demand should be more.