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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 purchase price of the cryptocurrency. He believes BTC would increase as he's counting on more institutional investors taking on Bitcoin and also a continuous increase in Bitcoin user base.Mr.
He is optimistic that increased institutional fortunes would help turn BTC's future around very soon. Sam Doctor, an analyst in Fundsrat along with Lee predicted that by 2019, BTC might reach nothing less than $36,000, together with the likelihood of $64,000 at the maximum and $20,000 at its lowest. A few days back, Tom Lee said that 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 considers the demand for BTC would increase with its decreasing supply. He made it somewhat obvious that by 2019, the adoption rate would increase and hence people would demand more of it. We have to 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 probably to break 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 stated before that it would take 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 also the brother of Charlie Lee, Litecoin founder gave an extremely bullish prediction but began with bearish though.
He iterated the industry capital might reach $7 trillion, which may surpass the market cap of gold. .
Zhao Dong, one of the biggest Bitcoin OTC traders in China and an influencer recently forecast that Bitcoin could reach $50,000 from 2021. He reiterated that now is the best time to invest in BTC and stated that you could find a return of 100 to 200 site here 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 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 an extremely pessimistic bearish prediction. He changed his earlier prediction statement dependent on the sudden change in the market. Formerly he'd said that BTC has the prospect of reaching $50K by the end of this 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 think that Bitcoin will soar up according to the predictions stated above. There are lots of reasons which resulted in Bitcoins price fall like Bitcoins being used great post to read for illicit purposes and so 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 probably be greater as more people will start believing in the technology behind Bitcoin. Bitcoin will reach up to $20,000 from the mid of 2019. The more the trading, the more the cost. Additionally, as we know, Bitcoins are rare in circulation, i.e.
Additionally, many countries 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 might function freely and securely. .
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The cryptocurrency market will experience a market optimism in 2020, as not only Bitcoin, but all the major cryptocurrencies will also experience an upward change. The governments and the central banks will probably adopt the electronic currencies, hence the demand should be more.