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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 price of mining 1 BTC directly correlates with the purchase price of the cryptocurrency. He believes BTC would grow as he is counting on more institutional investors taking on Bitcoin and a steady increase in Bitcoin user 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 likelihood of $64,000 in the highest and $20,000 in its cheapest. A few days back, Tom Lee stated that the BTC fair value is much higher than the current cost.
Ronnie Moas, a cryptocurrency analyst called that BTC might hit $28,000 from 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 remember 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 chief and founder of Galaxy Digital said that he believes that BTC wont reach$9K annually, and its probably to split 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 stated before that it would require 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 reach $7 trillion, that might surpass the market cap of gold. .
Zhao Dong, one of the largest Bitcoin OTC dealers in China and an influencer recently predicted that Bitcoin might reach $50,000 by 2021. He reiterated that now is the ideal time to invest in BTC and stated that you might get a return of 100 to 200 percent more than 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 stated that BTC might go as low as $3000, after which it will continue being bullish starting from 2019. Check Out Your URL 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 crypto derivatives exchange BitMex, on the other hand, have come with an extremely pessimistic bearish prediction. He find more info changed his earlier prediction statement based on the sudden change in the market. Previously he had said that BTC has the prospect of reaching $50K at the end of the calendar year, but now he says that BTC will reach as low as $3K and will continue being bearish for the 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 several reasons which led to Bitcoins price fall such as Bitcoins being used for illegal purposes and therefore many previous accidents 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 greater as more people will begin believing in the technology behind Bitcoin. Bitcoin will reach up to $20,000 by the mid of 2019. The longer the trading, the more the price. Additionally, as we know, Bitcoins are scarce in circulation, i.e.
Additionally, many 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 regulated markets which could function freely and safely. .
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The cryptocurrency market will experience a industry confidence in 2020, as not only Bitcoin, but all the significant cryptocurrencies will also experience an upward change. The governments and the central banks will adopt the electronic currencies, hence the demand should be .