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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 price of mining 1 BTC directly correlates with the purchase price of the cryptocurrency. He considers BTC would grow as he is counting on more institutional investors taking on Bitcoin and also 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 in 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 at its cheapest. 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 reach $28,000 by 2019. He considers the demand for BTC would increase with its decreasing supply. He made 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 BTC wont reach$9K annually, and its probably to split beyond $10,000 in the around the first quarter of 2019. This might take BTC into sky-reaching heights because it might soar way before 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 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 market capital might Bonuses reach $7 trillion, that might surpass the market cap of gold. .
Zhao Dong, one of the largest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin might hit $50,000 from 2021. He cautioned that now is the best time to invest in BTC and said that you could find a yield of 100 to 200% 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 stated that BTC might 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 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 marketplace. Formerly he had you can try this out said that BTC has the prospect of reaching $50K at the end of this year, but now he says 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 believe that Bitcoin will soar upward as per the predictions stated above. There are lots of reasons which led to Bitcoins price fall like Bitcoins being used for illegal purposes and so many previous mishaps like hacking and thefts. Pros outperformed the cons, hence Bitcoin is still 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 around $20,000 by the mid of 2019. The longer the trading, the more the price. Additionally, as we know, Bitcoins are rare 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 could function freely and securely. .
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The cryptocurrency market will experience a market optimism in 2020, as not only Bitcoin, but all the major cryptocurrencies will even experience an upward shift. The governments and the central banks will probably embrace the electronic currencies, hence the demand should be more.