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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 price of this cryptocurrency. He considers BTC would grow as he's counting on more institutional investors taking on Bitcoin and a steady 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 in the maximum and $20,000 in its lowest. A couple of days back, Tom Lee said that the BTC fair value is much higher than the current cost.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might reach $28,000 by 2019. He believes 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 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 leader and founder of Galaxy Digital said that he believes that BTC wont hit $9K annually, and its probably to split beyond $10,000 in the around the first quarter of 2019. This might require BTC into 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 considers that BTC might hit $200,000 from January 2020. He believes that the rate of adoption is directly proportional to the cost increase. The more the adoption rate, the more the increase in value.
Bobby Lee, CEO of Chinas first exchange- BTCC said before that it would take 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 creator 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 forecast that Bitcoin might reach $50,000 from 2021. He reiterated that now is the best time to invest in BTC and said that you could 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 said that BTC might go as low as $3000, after which it will continue being bullish starting from 2019. He enunciated that 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 said that BTC has the prospect of reaching $50K by the end of the 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 think that Bitcoin will soar up as per the predictions stated above. There are several reasons which led to 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 probably 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 more the price. Additionally, 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 regulated markets which could try these out 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 cryptocurrency market will experience a market optimism in 2020, as not only Bitcoin, but each of the significant cryptocurrencies will even experience an upward change. The governments and the central banks will embrace the digital currencies, hence the demand needs to be more.