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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research Fundstrat, believes that the break-even cost of mining 1 BTC directly correlates with the purchase price of this cryptocurrency. He believes BTC would grow as he's 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 from Fundsrat along with Lee predicted that by 2019, BTC might reach nothing less than $36,000, together with the likelihood of $64,000 at the highest and $20,000 at its cheapest. A few days ago, Tom Lee stated that the BTC fair value is much greater than the current cost.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might hit $28,000 by 2019. He believes 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 have to 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 stated that he considers BTC wont reach$9K this year, and its likely 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 before 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 completely 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 Check Out Your URL prediction but started with bearish though.
He iterated the market capital might reach $7 trillion, that might transcend the market cap of gold. .
Zhao Dong, one of the largest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin could hit $50,000 by 2021. He cautioned that now is the best time to invest in BTC and said that you could find a return 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 stated that BTC might 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 cost as Bitcoin's fundamentals are becoming stronger. .
Arthur Hayes, the CEO of all crypto Extra resources 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 marketplace. Formerly he had stated 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, imp source we think that Bitcoin will soar upward according to the predictions stated above. There are lots of reasons which led to Bitcoins cost fall such as Bitcoins being used for illicit 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 greater as more people will start 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 rare in circulation, i.e.
Additionally, several 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 securely. .
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The cryptocurrency market will experience a market confidence in 2020, as not only Bitcoin, but all the significant cryptocurrencies will also experience an upward shift. The governments and the central banks will embrace the electronic currencies, hence the demand needs to be .