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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, believes that the break-even cost of mining 1 BTC directly correlates with the price of the cryptocurrency. He believes BTC would grow as he's counting on more institutional investors taking on Bitcoin and a steady increase in Bitcoin user base.Mr.
He is 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 in the highest and $20,000 in its cheapest. A couple of days back, Tom Lee stated the BTC fair value is a lot higher than the current price.
Ronnie Moas, a cryptocurrency analyst called that BTC might reach $28,000 from 2019. He considers the demand for BTC would increase with its decreasing supply. He made it somewhat obvious that by 2019, the adoption rate would increase and hence people would demand more of it. We have to 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 said that he considers that BTC wont reach$9K this year, and its likely to break beyond $10,000 in the around the first quarter of 2019. This might take BTC to sky-reaching heights as it may soar way before this all-time-high $20K mark. .
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it would require 20b years for BTC to reach $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 started with bearish though.
He iterated the industry capital might reach $7 trillion, that might transcend the market cap of gold. .
Zhao Dong, one of the largest Bitcoin OTC traders in China and an influencer recently forecast that Bitcoin might hit $50,000 from 2021. He cautioned that now is the ideal time to invest in BTC and stated that you could get a return of 100 to 200 percent 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 could go as low as $3000, and 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. . have a peek at these guys
Arthur Hayes, the CEO of crypto derivatives exchange BitMex, on the other hand, have come with a very 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 by the end of this 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 will soar upward as per the predictions stated above. There are lots of reasons which resulted in Bitcoins cost fall such as Bitcoins being used for illicit 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 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 from the mid of 2019. The longer the trading, the greater the cost. Additionally, as we know, Bitcoins are scarce 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 controlled markets which could function freely and securely. .
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The cryptocurrency market will experience a market optimism in 2020, as not only Bitcoin, but each of the significant cryptocurrencies will even experience an upward shift. The governments and the central banks will adopt the digital currencies, hence the demand needs to be more.