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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 price of mining 1 BTC directly correlates with the purchase price of the cryptocurrency. He considers BTC would grow as he's counting on more institutional investors taking on Bitcoin and also a steady 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 in the maximum and $20,000 at its cheapest. 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 reach $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 leader and founder of Galaxy Digital said that he considers that BTC wont hit $9K annually, and its likely to break beyond $10,000 in the around the first quarter of 2019. This may require BTC to 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 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, that might surpass the market cap of gold. .
Zhao Dong, one of the biggest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin might reach $50,000 from 2021. He cautioned that now is the ideal time to invest in BTC and stated that you could find a yield of 100 to 200% more than 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 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 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 based on the sudden change in the marketplace. Formerly he'd said that BTC has the possibility of reaching $50K at the end of the calendar year, but now he states that BTC will reach as low as $3K and will continue being bearish to the entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we believe that Bitcoin more will soar up as per the predictions stated above. There are lots of reasons which resulted in Bitcoins price fall such as Bitcoins being used for illegal purposes and so 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 higher as more people will start believing in the technology behind Bitcoin. Bitcoin will reach around $20,000 from the mid of 2019. The more the trading, the more the cost. Additionally, as we know, Bitcoins are scarce in circulation, i.e.
Additionally, several 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 controlled markets which might function freely and securely. .
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The cryptocurrency market will experience a market confidence in 2020, as not only Bitcoin, but all the significant cryptocurrencies will even experience an upward shift. The governments and the central banks will embrace the electronic currencies, hence the demand should be more.