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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research Fundstrat, considers that the break-even cost of mining 1 BTC directly correlates with the purchase 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 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 likelihood of $64,000 in the maximum and $20,000 at its cheapest. A few days ago, Tom Lee stated that the BTC fair value is a lot higher 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 distribution. He left it somewhat obvious 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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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 believes that BTC wont hit $9K this year, and its likely to break beyond $10,000 in the around the first quarter of 2019. This may take BTC into sky-reaching heights as it may 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 industry capital might reach $7 trillion, that might transcend the market cap of gold. .
Zhao Dong, one of the biggest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin could reach $50,000 by 2021. He reiterated that now is the best time to invest in BTC and said that you might get 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 cost as Bitcoin's fundamentals are becoming stronger. .
Arthur Hayes, the CEO of 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 market. Previously he had stated that BTC has the prospect of reaching $50K by the end of this year, but now he states that BTC will reach as low as $3K and will continue being bearish to its entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we think that Bitcoin will soar upward according to the predictions mentioned previously. There are lots of reasons which resulted in Bitcoins price fall such as Bitcoins being used for illegal purposes and therefore 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 higher as more people will start believing in the technology behind Bitcoin. Bitcoin will reach around $20,000 from the mid of 2019. browse around these guys The more the trading, the more the price. Moreover, as we know, Bitcoins are scarce 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 controlled markets which could function freely and safely. .
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The cryptocurrency market will experience a industry 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 adopt the electronic currencies, hence the demand should be more.