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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 price of this cryptocurrency. He considers BTC would increase as he is 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, together with the probability of $64,000 at the maximum and $20,000 at its cheapest. A few days back, Tom Lee said 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 left it somewhat obvious 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 leader and founder of Galaxy Digital stated that he believes that BTC wont reach$9K this year, and its likely to split beyond $10,000 in the around the first quarter of 2019. This might take BTC to 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 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 that the industry capital might reach $7 trillion, that might surpass the market cap of gold. .
Zhao Dong, one of the biggest Bitcoin OTC dealers in China and an influencer recently predicted that Bitcoin might reach $50,000 from 2021. He cautioned that now is the best time to invest in BTC and said that you might find a return 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 said 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 marketplace. Previously he'd said that BTC has the possibility of reaching $50K at the end of the year, but now he states that BTC will achieve as low as $3K official website and will continue being bearish to its entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we believe that Bitcoin will soar up as per the predictions mentioned previously. There are lots of reasons which led to 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 remains 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 up to $20,000 from the mid of 2019. The more the trading, the more the price. Additionally, 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 regulated markets which might function freely and securely. .
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The cryptocurrency market will experience a industry optimism in 2020, as not only Bitcoin, but all the significant cryptocurrencies will also experience an upward change. The governments and the central banks will probably embrace the digital currencies, hence the demand needs to be more.