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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, considers that the break-even cost of mining 1 BTC directly correlates with the price of this cryptocurrency. He considers BTC would increase as he is 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, together with the likelihood of $64,000 in the maximum and $20,000 at its lowest. A couple of days ago, Tom Lee said the BTC fair value is much greater than the current price.
Ronnie Moas, a cryptocurrency analyst called that BTC might hit $28,000 from 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 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 chief and founder of Galaxy Digital stated 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 might take BTC into sky-reaching heights as it may soar way before the all-time-high $20K mark. .
Bobby Lee, CEO of Chinas first exchange- BTCC said before that it would require 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 began with bearish though.
He iterated the market capital might reach $7 trillion, that might transcend the market cap of gold. .
Zhao Dong, one of the largest Bitcoin OTC dealers in China and an influencer recently forecast that Bitcoin could reach $50,000 by 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 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 stated 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 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 marketplace. Formerly he had said that BTC has the possibility of reaching $50K at the end of this year, but now he states that BTC will achieve as low as $3K and will continue being bearish for 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 like Bitcoins being used for illegal purposes and therefore many past mishaps 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 from the mid of 2019. The news longer the trading, the more the price. Additionally, as we know, Bitcoins are scarce 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 regulated markets which might function freely and safely. .
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The cryptocurrency market will experience a market optimism 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 digital currencies, hence the demand should be more.