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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 considers 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, with the likelihood of $64,000 at the maximum and $20,000 in its cheapest. A few days back, Tom Lee said that the BTC fair value is a lot higher than the current cost.
Ronnie Moas, a cryptocurrency analyst called that BTC might reach $28,000 by 2019. He believes 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 must 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 believes that BTC wont reach$9K this year, and its likely to split beyond $10,000 in the around the first quarter of 2019. This may take BTC to sky-reaching heights because 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 reach $1 million. Now his prediction totally changed. Bobby Lee, the co-founder of BTCC(Hong Kong-based Bitcoin exchange) additional resources and the brother of Charlie Lee, Litecoin founder gave an extremely bullish prediction but began 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 forecast 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 get a return of 100 to 200 percent more than 3 years if you invest now. .
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In a recent visit the site 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 that 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 next page his earlier prediction statement dependent on the sudden change in the market. Formerly he'd stated that BTC has the prospect of reaching $50K by the end of the 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 think that Bitcoin will soar up according to the predictions stated above. There are lots of reasons which led to Bitcoins cost fall such as Bitcoins being used for illicit purposes and therefore many past 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 probably be higher as more people will start believing in the technology behind Bitcoin. Bitcoin will reach around $20,000 by the mid of 2019. The longer the trading, the more the cost. Moreover, 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 industry confidence in 2020, as not only Bitcoin, but all the major 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.