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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research 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 a continuous increase in Bitcoin consumer base.Mr.
He is optimistic that increased institutional fortunes would help turn BTC's future around very 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 few days back, 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 believes 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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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 BTC wont hit $9K annually, and its likely to break beyond $10,000 in the around the first quarter of 2019. This may take BTC to sky-reaching heights as 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 hit $200,000 by January 2020. He believes that the rate of adoption is directly proportional to the price increase. The greater the adoption speed, the more the increase in value.
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it'd 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 the brother of Charlie Lee, Litecoin founder gave an extremely bullish prediction but began with bearish though.
He iterated that the industry capital might reach $7 trillion, which may transcend the market cap of gold. .
Zhao Dong, one of the biggest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin might hit $50,000 by 2021. He cautioned that now is the ideal time to invest in BTC and said that you could find a yield of 100 to 200 percent over 3 years if you invest now. .
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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 cost as Bitcoin's fundamentals are becoming stronger. .
Arthur Hayes, the CEO of all 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. Previously he'd said that BTC has the prospect of reaching $50K by the end of this calendar year, but now he says that BTC will achieve as low as $3K and will this post continue being bearish to the entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we believe that Bitcoin will soar up as per the predictions mentioned previously. There are lots of reasons which resulted in Bitcoins price fall like Bitcoins being used for illicit purposes and therefore many previous accidents like hacking and thefts. Pros outperformed the cons, hence Bitcoin is still the market leader, bagging the number one position and maintaining its position.
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2019 will be bullish for Bitcoin, as by then the adaptability will be higher as more people will begin believing in the technology behind Bitcoin. Bitcoin will reach around $20,000 by the mid of 2019. The more the trading, the greater 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 regulated markets which might function freely and securely. .
By the end of the year 2019, the Bitcoin cost will reach $23,499, which means that the 2018 bearish trend ends and changes to the bullish trend.
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The cryptocurrency market will experience a industry optimism in 2020, as not only Bitcoin, but all the significant cryptocurrencies will even experience an upward shift. The governments and the central banks will adopt the electronic currencies, hence the demand needs to be more.