According to a report, Bitcoin is slated to hit $ 36,000 by the end of 2019. This will be due to the mining cost which will consistently increase as more and more Bitcoins are mined. According to a report by Fundstrat Research, Bitcoin might be between $ 20,000-$ 64,000 by the end of 2019. This marks a significant jump from the current levels of around $ 9000. Also, the report takes into account the increasing cost of Bitcoin mining.
Bitcoin mining is such that with each and every Bitcoin which is mined, the cost of mining will increase. That is why, in order to sustain the cost of Bitcoin mining, it is necessary that Bitcoin trades at a higher level. Moreover, the difficulty level in Bitcoin mining also increases. That is why the value of Bitcoin will also increase. The supply will decrease as the difficulty increases. Owing to this very reason, the value of Bitcoin will also increase. This will be positive news for the Bitcoin miners.
Bitcoin Price Today
Bitcoin Cash (BCH)
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According to a previous report by the same research Institute, at least 82% of the institutional investors stated that Bitcoin has bottomed out. As a result, these might be good levels to invest in Bitcoin. You need to, however, keep in mind that you have to hold Bitcoins for a longer period of time in order to get any good returns. Only when you’re willing to hold Bitcoins for a longer period of time, you will be able to get good returns. If you’re looking for a short-term impulse, you might not be able to get them quite easily. Bitcoin is still down by around 55% from the peak. This is one of the main reasons why short-term impulses might not sustain as well. If you’re looking to invest in cryptocurrency over a longer period of time, that is only when you should think about investing in Bitcoin at the current levels.
Also, according to the same report, most of the investors believe that Bitcoin will stay between $ 10,000-$ 20,000 by the end of this year. That is why the returns which it might provide in the next one year might not be that good. However, if you’re willing to hold it over a longer period of time, it is likely that you will be able to generate a good return. At this point in time, it makes a complete sense to invest in Bitcoin only if you’re looking at the longer-term situation. Similarly, in the other cryptocurrencies as well, you should only think about investing if you want to invest for the longer term.