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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research 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 is counting on more institutional investors taking on Bitcoin and also a continuous increase in Bitcoin user base.Mr.
He's 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 in its lowest. A couple of days back, Tom Lee said the BTC fair value is a lot greater than the current price.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might hit $28,000 from 2019. He considers 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 must recall 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 leader and founder of Galaxy Digital stated that he believes that BTC wont hit $9K annually, 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 might soar way ahead of this all-time-high $20K mark. .
Bobby Lee, CEO of Chinas first exchange- BTCC said before that it would take 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 that the market capital might reach $7 trillion, which may surpass the market cap of gold. .
Zhao Dong, one of the largest Bitcoin OTC dealers 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 that you might get a yield 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 explained that Bitcoin isn't going anywhere. He said that BTC could go as low as $3000, recommended you read and 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. Previously he'd said that BTC has the possibility of reaching $50K by the end of this 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 stated above. There are several reasons which led to Bitcoins cost fall such as Bitcoins being used for illegal purposes and therefore many previous mishaps like hacking and thefts. Pros outperformed the cons, hence Bitcoin remains the market leader, bagging the number one position and maintaining its position.
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2019 will be look here bullish for Bitcoin, as by then the adaptability will be higher as more people will begin believing in the technology behind Bitcoin. Bitcoin will reach around $20,000 from the mid of 2019. The more the trading, the greater the cost. Moreover, as we know, Bitcoins are rare in circulation, i.e.
Additionally, several 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 controlled 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 reference of the major cryptocurrencies will even experience an upward shift. The governments and the central banks will adopt the electronic currencies, hence the demand needs to be .