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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 the cryptocurrency. He considers BTC would grow as he's counting on more institutional investors taking on Bitcoin and a steady increase in Bitcoin user base.Mr.
He is 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 in its lowest. A few days ago, Tom Lee said the BTC fair value is a lot higher than the current cost.
Ronnie Moas, a cryptocurrency analyst called that BTC might reach $28,000 from 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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At 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 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 because it might soar way before this all-time-high $20K mark. .
Fran Strajnar comes up with an extremely optimistic prediction where he considers that BTC might reach $200,000 from January 2020. He thinks that the speed of adoption is directly proportional to the price increase. The greater the adoption speed, the greater the increase in value.
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it'd take 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 creator 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 forecast that Bitcoin might reach $50,000 by 2021. He reiterated that now is the ideal time to invest in BTC and said that you could find a yield of 100 to 200% over 3 years if you invest now. .
In a recent tweet, Anthony Pompliano, founder of Morgan Creek explained that Bitcoin isn't going anywhere. He said that BTC might 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 based on the sudden change in the market. Formerly he'd said that BTC has the prospect of reaching $50K at the end of the year, but now he says that BTC will achieve 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 as per the predictions stated above. There are several reasons which resulted in Bitcoins cost fall such as Bitcoins being used for illicit purposes and therefore 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 probably be higher as more people will begin believing in the technology behind Bitcoin. Bitcoin will reach up to $20,000 by the mid of 2019. The longer the trading, the more the cost. Moreover, as we know, Bitcoins are rare in circulation, i.e.
Additionally, many 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 could 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 shifts to the bullish trend.
The cryptocurrency market will experience a industry optimism in 2020, as not only Bitcoin, but all Go Here the significant cryptocurrencies will also experience an upward shift. The governments and the central banks will embrace the digital currencies, hence the demand needs to be more.