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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 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 user base.Mr.
He's optimistic that increased institutional fortunes would help turn BTC's future around quite soon. Sam Doctor, an analyst in Fundsrat along with Lee predicted that by 2019, BTC might reach nothing less than $36,000, together with the probability of $64,000 in the highest and $20,000 in its lowest. A few days ago, Tom Lee said the BTC fair value is much higher than the current price.
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 distribution. He made 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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At 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 break beyond $10,000 in the around the first quarter of 2019. This may require BTC into sky-reaching heights as it might soar way ahead of this all-time-high $20K mark. .
Fran Strajnar comes up with an extremely optimistic prediction where he considers that BTC might hit $200,000 by January 2020. He thinks that the rate of adoption is directly proportional to the price increase. The more the adoption speed, the more the increase in value.
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it would take 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 prediction but began 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 largest Bitcoin OTC dealers in China and an influencer recently predicted that Bitcoin might hit $50,000 by 2021. He reiterated that now is the ideal time to invest in BTC and said that you might find a return of 100 to 200% more than 3 years if you invest now. .
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In a recent click here to find out more 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 price as Bitcoin's fundamentals are becoming stronger. .
Arthur Hayes, the CEO of all 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 marketplace. Formerly he had said that BTC has the possibility of reaching $50K by the end of the year, but now he says that BTC will achieve as low as $3K and will continue being bearish to its entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we believe that Bitcoin will soar upward according to the predictions mentioned previously. There are lots of reasons which led to Bitcoins cost fall such as Bitcoins being used for illegal purposes and therefore many find out previous accidents 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 begin 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. Moreover, as we know, Bitcoins are scarce 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 imp source setting up controlled markets which could function freely and securely. .
By the end of the year 2019, the Bitcoin price will reach $23,499, which means that the 2018 bearish trend ends and changes to the bullish trend.
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The cryptocurrency market will experience a market confidence in 2020, as not only Bitcoin, but each of the significant cryptocurrencies will also experience an upward shift. The governments and the central banks will probably embrace the digital currencies, hence the demand needs to be .