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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 increase as he's counting on more institutional investors taking on Bitcoin and also a steady 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, with the likelihood of $64,000 in the maximum and $20,000 at its cheapest. A few days back, Tom Lee said the BTC fair value is much greater than the current price.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might reach $28,000 from 2019. He believes the demand for BTC would increase with its decreasing distribution. 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 stated that he considers BTC wont reach$9K this year, 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 may soar way before the all-time-high $20K mark. .
Fran Strajnar comes up with an extremely optimistic prediction at which he considers that BTC might reach $200,000 from January 2020. He believes that the rate of adoption is directly proportional to the cost increase. The more the adoption speed, the greater the increase in worth.
Bobby Lee, CEO of Chinas first exchange- BTCC said before that it would take 20b years for BTC to achieve 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.
He iterated the market capital might reach $7 trillion, which may transcend the market cap of gold. .
Zhao Dong, one of the biggest Bitcoin OTC dealers 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 stated that you might get a yield of 100 to 200 percent more than 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 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 marketplace. Formerly he'd said that BTC has the possibility of reaching $50K by the end of this calendar year, but now he states that BTC will achieve as low as $3K and will continue being bearish to its entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we believe that Bitcoin will soar upward according to my latest blog post the predictions stated above. There are lots of reasons which led to Bitcoins price 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.
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2019 will be bullish for Bitcoin, as by then the adaptability will be greater 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 greater the price. Moreover, as we know, Bitcoins are rare 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 could function freely and safely. .
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 market optimism in 2020, as not only Bitcoin, but each of the major cryptocurrencies will even experience an upward change. The governments and the central banks will probably adopt the digital currencies, hence the demand needs to be more.