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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 cost of mining 1 BTC directly correlates with the price of this cryptocurrency. He believes BTC would increase as he's counting on more institutional investors taking on Bitcoin and 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 probability of $64,000 at the maximum and $20,000 in its lowest. A couple of days back, Tom Lee stated that the BTC fair value is much higher than the current price.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might hit $28,000 by 2019. He considers 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 recall 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 probably to break beyond $10,000 in the around the first quarter of 2019. This may require BTC into sky-reaching heights because it might soar way before the all-time-high $20K mark. .
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it'd require 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 creator gave an extremely bullish prediction but started with bearish though.
He iterated that the market capital might reach $7 trillion, which may transcend the market cap of gold. .
Zhao Dong, one of the largest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin could hit $50,000 from 2021. He cautioned that now is the best time to invest in BTC and said that you might find a return of 100 to 200% 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 might go as low as $3000, and 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 marketplace. Formerly he had stated that BTC has the possibility of reaching $50K at the end of the calendar year, but now he states that BTC will achieve as low as $3K and will continue being bearish to the entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we believe that Bitcoin will soar upward according to the predictions mentioned previously. There are lots of reasons which led to Bitcoins price fall such as Bitcoins being used for illicit purposes and therefore many past 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 around $20,000 by the mid of 2019. The longer the trading, the more the price. Moreover, as we know, Bitcoins are rare in circulation, i.e.
Additionally, many countries helpful site 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 could function freely and safely. .
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The cryptocurrency market will experience a industry confidence in 2020, as not only Bitcoin, but all the significant cryptocurrencies will also experience an upward change. The governments and the central banks will embrace the electronic currencies, hence the demand should be more.