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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 price 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 also a steady increase in Bitcoin user 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 at its lowest. A few days ago, Tom Lee said the BTC fair value is much greater than the current price.
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 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 that BTC wont hit $9K this year, and its probably to break beyond $10,000 in the around the first quarter of 2019. This might take BTC to sky-reaching heights because it might soar way before the all-time-high $20K mark. .
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it'd take 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 the industry capital might reach $7 trillion, which may surpass the market cap of gold. .
Zhao Dong, one of the biggest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin could reach $50,000 by 2021. He reiterated that now is the ideal time to invest in BTC and said that you could get 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 explained that Bitcoin isn't going anywhere. He stated that BTC could go as low as $3000, and it will continue being bullish starting from 2019. He enunciated there is no reason to click site freak out on the declining price 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 by the end of this calendar year, but now he states that BTC will reach as low as $3K and will continue being bearish for its entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we believe click to read that Bitcoin will soar up as per the predictions mentioned previously. There are lots of reasons which resulted in Bitcoins cost fall such as Bitcoins being used for illegal purposes and so many past mishaps like hacking and thefts. Pros outperformed the cons, hence Bitcoin is still 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 probably be greater 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 more the cost. Moreover, 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 optimism in 2020, as not only Bitcoin, but all the significant cryptocurrencies will even experience an upward shift. The governments and the central banks will adopt the electronic currencies, hence the demand needs to be more.