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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 price of mining 1 BTC directly correlates with the purchase price of this cryptocurrency. He considers BTC would grow as he is counting on more institutional investors taking on Bitcoin and also a continuous increase in Bitcoin consumer base.Mr.
He is 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, with the probability of $64,000 in the maximum and $20,000 at its lowest. A few days ago, Tom Lee stated the BTC fair value is a lot greater than the current price.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might hit $28,000 by 2019. He believes the demand for BTC would increase with its decreasing supply. 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 BTC wont hit $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 might 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 achieve 1 million. Now his prediction completely changed. Bobby Lee, the co-founder of BTCC(Hong Kong-based Bitcoin exchange) and the brother of Charlie Lee, Litecoin creator gave an extremely bullish prediction but began with bearish though.
He iterated that the visit the site market 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 forecast that Bitcoin could hit $50,000 from 2021. He cautioned that now is the ideal time to invest in BTC and said that you could get 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 stated 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 cost 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. Previously he had stated that BTC has the possibility of reaching $50K by the end of this calendar year, but now he says 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 mentioned previously. There are several reasons which resulted in Bitcoins cost fall such as Bitcoins being used for illegal purposes and therefore 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 be higher as more people will begin believing in the technology behind Bitcoin. Bitcoin will reach up to $20,000 by the mid of 2019. The longer the trading, the greater the price. 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 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 all the significant cryptocurrencies will even experience an upward change. The governments and the central banks will probably embrace the electronic currencies, hence the demand needs to be .