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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 considers BTC would grow as he's counting on more institutional investors taking on Bitcoin and a steady increase in Bitcoin consumer base.Mr.
He is optimistic that increased institutional fortunes would help turn BTC's future around very 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 at the highest and $20,000 in its lowest. A few days back, Tom Lee said that the BTC fair value is much 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 left 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 stated that he considers that BTC wont hit $9K annually, and its likely to break beyond $10,000 in the around the first quarter of 2019. This may require BTC to sky-reaching heights because 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 take 20b years for BTC to achieve 1 million. Now his prediction completely Website 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 started with bearish though.
He iterated the market capital might reach $7 trillion, which may surpass the market cap of gold. .
Zhao Dong, one of the largest Bitcoin OTC traders in China and an influencer recently that site predicted that Bitcoin could reach $50,000 by 2021. He cautioned that now is the best time to invest in BTC and stated that you might find a return of 100 to 200 percent over 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. .
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 important source the marketplace. Formerly he'd said that BTC has the prospect 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 its entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we think that Bitcoin will soar upward according to the predictions stated above. There are lots of reasons which resulted in Bitcoins cost fall such as Bitcoins being used for illicit purposes and so many previous accidents 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 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 more the trading, the greater the cost. Additionally, 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 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 all the significant cryptocurrencies will also experience an upward shift. The governments and the central banks will adopt the digital currencies, hence the demand needs to be .