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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research Fundstrat, believes that the break-even cost of mining 1 BTC directly correlates with the price of the cryptocurrency. He considers 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 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 likelihood of $64,000 at the maximum and $20,000 at its lowest. A few days ago, Tom Lee said the BTC fair value is a lot greater than the current cost.
Ronnie Moas, a cryptocurrency analyst called that BTC might hit $28,000 by 2019. He believes the demand for BTC would increase with its decreasing supply. He left 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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In the Finance Disrupted event organized by The Economist in Manhattan Mike Novogratz, former hedge fund leader and founder of Galaxy Digital said that he considers that BTC wont hit $9K this year, and its probably to break beyond $10,000 in the around the first quarter of 2019. This might require BTC into sky-reaching heights because it might soar way ahead of the all-time-high $20K mark. .
Bobby Lee, CEO of Chinas first exchange- BTCC said before that it would take 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 creator gave an extremely bullish prediction but started with bearish though.
He iterated the market capital might reach $7 trillion, that might transcend the market cap of gold. .
Zhao Dong, one of the largest Bitcoin OTC traders in China and an influencer recently forecast that Bitcoin could hit $50,000 from 2021. He reiterated that now is the best time to invest in BTC and said that you could find a yield 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 said 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 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 go now prediction statement based on the sudden change in the market. Previously he'd said that BTC has the possibility of reaching $50K at the end of the calendar year, but now he states 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 upward according to the predictions stated above. There are lots of reasons which resulted in Bitcoins cost fall like Bitcoins being used for illicit purposes and so many previous accidents 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 begin believing in the technology behind Bitcoin. this Bitcoin will reach up to $20,000 from the mid of 2019. The longer the trading, the greater the price. Moreover, as we know, Bitcoins are rare 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 controlled markets which might 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 embrace the digital currencies, hence the demand should be .