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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 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 in the highest and $20,000 in its lowest. A few days ago, 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 hit $28,000 from 2019. He believes the demand for BTC would increase with its decreasing distribution. He made it somewhat clear 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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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 believes BTC wont hit $9K this year, and its probably 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 said before that it'd 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, which may surpass the market cap of gold. .
Zhao Dong, one of the largest Bitcoin OTC dealers in China and an influencer recently predicted that Bitcoin could hit $50,000 by 2021. He cautioned that now is the best time to invest in BTC and said that you might find a yield 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 BTC could 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 a very pessimistic bearish prediction. He changed his earlier prediction statement dependent on the sudden change in the marketplace. Formerly he'd said that BTC has the prospect of reaching $50K at the end of my latest blog post this year, but now he says 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 that Bitcoin will soar up according to the predictions mentioned previously. There are several reasons which resulted in Bitcoins cost fall like Bitcoins being used for illicit 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 be greater as more people will start believing in the technology behind Bitcoin. Bitcoin will reach up to $20,000 by the mid of 2019. The more the trading, the more the cost. Moreover, as we know, Bitcoins are scarce This Site in circulation, i.e.
Additionally, several 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 securely. .
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The cryptocurrency market will experience a industry confidence 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 embrace the electronic currencies, hence the demand should be .