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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 purchase price of the cryptocurrency. He considers 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 quite soon. Sam Doctor, an analyst in Fundsrat along with Lee predicted that by 2019, BTC might reach nothing less than $36,000, with the likelihood of $64,000 in the maximum and $20,000 in its cheapest. A few days ago, Tom Lee said the BTC fair value is a lot higher than the current cost.
Ronnie Moas, a cryptocurrency analyst called that BTC might reach $28,000 by 2019. He believes 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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At the Finance Disrupted event organized by The Economist in Manhattan Mike Novogratz, former hedge fund chief and founder of Galaxy Digital said that he considers BTC wont reach$9K this year, and its probably to split beyond $10,000 in the around the first quarter of 2019. This might take BTC into sky-reaching heights as it might soar way ahead of this 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 completely changed. Bobby Lee, the co-founder of BTCC(Hong Kong-based Bitcoin exchange) and also the brother of Charlie Lee, Litecoin creator gave an extremely you could try here bullish prediction but started 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 biggest Bitcoin OTC traders in China and an influencer recently forecast that Bitcoin might reach $50,000 from 2021. He reiterated that now is the best time to invest in BTC and stated that you might get 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 said 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 cost as Bitcoin's fundamentals are becoming stronger. .
Arthur Hayes, the CEO of crypto derivatives exchange BitMex, on the other hand, have come with an extremely pessimistic bearish prediction. He changed his earlier prediction statement based on the sudden change in the market. Formerly he'd said that BTC has the possibility of reaching $50K at the end of this calendar year, but now he says 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 think that Bitcoin will soar up as per the predictions stated above. There are lots of reasons which resulted in Bitcoins cost fall such as Bitcoins being used for illicit purposes and so many previous accidents like hacking and thefts. Pros outperformed the cons, hence Bitcoin is still 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 higher as more people will start believing in the technology behind Bitcoin. Bitcoin will reach around $20,000 from the mid of 2019. The longer the trading, the more the cost. Additionally, as we know, Bitcoins are scarce 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 could 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 even experience an upward shift. The governments and the central banks will adopt the electronic currencies, hence the demand should be more.