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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, considers that the break-even cost of mining 1 BTC directly correlates with the price of this cryptocurrency. He believes BTC would increase as he is counting on more institutional investors taking on Bitcoin and a continuous 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 at the highest and $20,000 in its lowest. A few days back, Tom Lee stated the BTC fair value is much higher than the current cost.
Ronnie Moas, a cryptocurrency analyst called that BTC might hit $28,000 from 2019. He considers the demand for BTC would increase with its decreasing supply. He left it somewhat obvious 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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In 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 BTC wont hit $9K this year, and its likely to split beyond $10,000 in the around the first quarter of 2019. This might take BTC into sky-reaching heights as it may soar way ahead of this all-time-high $20K mark. .
Bobby Lee, CEO of Chinas first exchange- BTCC stated 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 the industry capital might reach $7 trillion, which may transcend the market cap of gold. .
Zhao Dong, one of the biggest Bitcoin OTC traders in China and an influencer recently forecast that Bitcoin could reach $50,000 from 2021. He cautioned that now is the best time to invest in BTC and stated that you could find 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 said that Bitcoin isn't going anywhere. He stated that click this site 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 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 dependent on the sudden change in the market. Previously he had stated that BTC has the possibility of reaching $50K by the end of this year, but now he says that BTC will reach as low as $3K and will continue being bearish for the entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we believe 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 illicit purposes and so many past mishaps like hacking and thefts. Pros outperformed the cons, hence Bitcoin remains 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 probably be higher as more people will start believing in the technology behind Bitcoin. Bitcoin will reach up to $20,000 from the mid of 2019. The more the trading, the greater the price. Moreover, as we know, Bitcoins are scarce in circulation, i.e.
Additionally, several countries like the U.S., Japan, and South Korea have shown intense willingness to integrate Bitcoin and other cryptocurrencies into their financial systems by setting up regulated markets which could function freely and securely. .
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The cryptocurrency market will experience a industry 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 digital currencies, hence the demand needs to be more.