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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 believes BTC would grow as he's counting on more institutional investors taking on Bitcoin and also 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, with the probability of $64,000 at the highest and $20,000 at its cheapest. A couple of days ago, Tom Lee stated that the BTC fair value is much 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 distribution. He made 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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In the Finance Disrupted event organized by The Economist in Manhattan Mike Novogratz, former hedge fund chief and founder of Galaxy Digital said that he believes that BTC wont hit $9K this year, and its likely to split 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 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 rate of adoption is directly proportional to the cost 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 reach 1 million. Now his prediction totally 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 started with bearish though.
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Zhao Dong, one of the largest Bitcoin OTC dealers in China and an influencer recently forecast that Bitcoin could hit $50,000 from 2021. He cautioned that now is the ideal time to invest in BTC and stated that you could get a return of 100 to 200% over 3 years if you invest now. .
In a recent tweet, Anthony Pompliano, founder of Morgan Creek said that Bitcoin isn't going anywhere. He stated that BTC could 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 all 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 possibility of reaching $50K by the end of this year, but now he says that BTC will achieve as low as $3K and will continue being bearish to 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 mentioned pop over to these guys previously. There are several reasons which led to Bitcoins price fall such as Bitcoins being used for illegal purposes and so many previous 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 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 longer the trading, the greater the price. Additionally, as we know, Bitcoins are rare 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 function freely and safely. .
From the end of the year 2019, the Bitcoin price will reach $23,499, which means that the 2018 bearish trend ends and changes to the bullish trend.
The click this cryptocurrency market will experience a industry confidence in 2020, as not only Bitcoin, but each of the significant cryptocurrencies will also experience an upward shift. The governments and the central banks will probably adopt the electronic currencies, hence the demand needs to be more.