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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 price 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 also a continuous increase in Bitcoin consumer base.Mr.
He's 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 likelihood of $64,000 at the highest and $20,000 at its lowest. A couple of days ago, Tom Lee said that the BTC fair value is a lot greater than the current cost.
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 distribution. He made it somewhat clear 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 stated that he considers BTC wont reach$9K this year, and its probably to break beyond $10,000 in the around the first quarter of 2019. This might require BTC into sky-reaching heights as it may soar way ahead of the all-time-high $20K mark. .
Bobby Lee, CEO of Chinas first exchange- BTCC said before that it'd require 20b years for BTC to achieve 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 started with bearish though.
He iterated that the industry capital might reach $7 trillion, which may transcend the market cap of gold. .
Zhao Dong, one of the biggest Bitcoin OTC traders in China and an influencer recently forecast that Bitcoin could hit $50,000 by 2021. He reiterated that now is the best time to invest in BTC and said he said that you could 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 stated that BTC might go as low as $3000, after which it will continue being bullish starting from 2019. He enunciated 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 prospect of reaching $50K by the end of the year, but now he says that BTC will achieve as low as $3K and will continue being bearish for its entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we think that Bitcoin will soar upward as per the predictions mentioned previously. There are lots of reasons which led to Bitcoins price fall such as Bitcoins being used for illegal purposes and therefore many previous mishaps 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 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 longer the trading, the greater the price. Moreover, as we know, Bitcoins are scarce in circulation, i.e.
Additionally, several countries like click here for info 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 could function freely and safely. .
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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 shift. The governments and the central banks will probably adopt the electronic currencies, hence the demand needs to be more.