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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 considers BTC would increase as he's 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, with the probability of $64,000 at the highest and $20,000 in its cheapest. A couple of days ago, Tom Lee stated the BTC fair value is much higher than the current price.
Ronnie Moas, a cryptocurrency analyst predicted 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 have to 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 believes BTC wont hit $9K annually, and its likely to break beyond $10,000 in the around the first quarter of 2019. This might require BTC to sky-reaching heights as it may soar way ahead of this all-time-high $20K mark. .
Fran Strajnar comes up with a very optimistic prediction where he considers that BTC might reach $200,000 from January 2020. He thinks that the speed of adoption is directly proportional to the price increase. The greater the adoption rate, the greater the increase in value.
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it would take 20b years for BTC to reach 1 million. Now his prediction completely changed. Bobby site 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 that the market capital might reach $7 trillion, which may 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 cautioned that now is the best time to invest in BTC and said that you might find 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 cost as Bitcoin's fundamentals are becoming stronger. .
Arthur Hayes, the CEO of all crypto derivatives exchange BitMex, on the other hand, have come with an extremely pessimistic bearish prediction. He changed his earlier prediction statement dependent on the sudden change in the marketplace. Formerly he'd said that BTC has the possibility of reaching $50K at the end of this year, but now he says that BTC will achieve as low as $3K and will continue being bearish to the entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we think that Bitcoin will soar up as per the predictions stated above. There are several reasons which resulted in Bitcoins cost fall like Bitcoins being used for illicit purposes and therefore many past accidents like hacking and thefts. Pros outperformed the cons, hence Bitcoin is still the market leader, bagging the number one position and maintaining its position.
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2019 will be bullish for Bitcoin, as by then the read the full info here adaptability will probably be higher 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 greater 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. .
By the end of the year 2019, the Bitcoin price will hit $23,499, which means that the 2018 bearish trend ends and shifts to the bullish trend.
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The cryptocurrency market will experience a industry confidence 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 embrace the digital currencies, hence the demand should be more.