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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 this cryptocurrency. He believes BTC would increase as he's counting on more institutional investors taking on Bitcoin and a steady 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 in 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 in its cheapest. A few days ago, Tom Lee stated that the BTC fair value is much higher than the current cost.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might hit $28,000 by 2019. He considers 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 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 chief and founder of Galaxy Digital stated that he considers that BTC wont reach$9K annually, 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 ahead of this all-time-high $20K mark. .
Bobby Lee, CEO of Chinas first exchange- BTCC said before that it would require 20b years for BTC to achieve $1 million. Now his prediction totally 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 that the market capital might reach $7 trillion, that might surpass 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% more than 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 crypto derivatives exchange BitMex, on the other hand, have come with a very pessimistic bearish prediction. He changed his earlier prediction statement based on the sudden change in the market. Previously he had stated that BTC has the prospect of reaching $50K by the end of this 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 news experiencing frequent fluctuations, we believe that Bitcoin will soar upward according to the predictions mentioned previously. There are lots of reasons which resulted in Bitcoins price fall like Bitcoins being used for illicit purposes and therefore many previous 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 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 more the price. 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 controlled 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 each of the significant cryptocurrencies will also experience an upward change. The governments and the central banks will probably adopt the electronic currencies, hence the demand needs to be .