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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research Fundstrat, considers that the break-even cost of mining 1 BTC directly correlates with the price of the cryptocurrency. He believes BTC would increase as he's counting on more institutional investors taking on Bitcoin and a steady increase in Bitcoin user base.Mr.
He's optimistic that increased institutional fortunes would help turn BTC's future around quite soon. Sam Doctor, an analyst from Fundsrat along with Lee predicted that by 2019, BTC might reach nothing less than $36,000, together with the probability of $64,000 in the highest and $20,000 in its cheapest. A couple of days back, Tom Lee said that the BTC fair value is much higher than the current price.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might reach $28,000 by 2019. He believes the demand for BTC would increase with its decreasing supply. He left it somewhat clear that by 2019, the adoption rate would increase and hence people would demand more of it. We must 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 leader and founder of Galaxy Digital stated that he believes BTC wont reach$9K annually, and its likely to break beyond $10,000 in the around the first quarter of 2019. This may take BTC to sky-reaching heights because it may soar way before this all-time-high $20K mark. .
Bobby Lee, CEO of Chinas first exchange- BTCC said before that it'd require 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 the brother of Charlie Lee, Litecoin founder gave an extremely bullish prediction but began 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 dealers in China and an influencer recently forecast that Bitcoin might reach $50,000 by 2021. He cautioned that now is the best time to invest in BTC and stated that you could 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 stated that BTC might 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 continue reading this CEO of 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 had stated that BTC has the prospect of reaching $50K at the end of the calendar year, but now he says that BTC will reach as low as $3K and will continue being bearish to its entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we believe that Bitcoin will soar up as per the predictions stated above. There are several reasons which resulted in Bitcoins price fall like Bitcoins being used for illicit purposes and so many past 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 bullish for Bitcoin, as by then the adaptability will be greater as more people will begin believing in the technology behind Bitcoin. Bitcoin will reach around $20,000 by the mid of 2019. The more the trading, the greater the price. Additionally, as we know, Bitcoins are rare in circulation, i.e.
Additionally, many countries like 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 might function freely and safely. .
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The cryptocurrency market will experience a market confidence in 2020, as not only Bitcoin, but all the significant cryptocurrencies will also experience an upward shift. The governments and the central banks will probably embrace the electronic currencies, hence the demand should be more.