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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, believes that the break-even cost of mining 1 BTC directly correlates with the price of this cryptocurrency. He considers BTC would grow as he is counting on more institutional investors taking on Bitcoin and a continuous increase in Bitcoin consumer base.Mr.
He is 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, with the likelihood of $64,000 in the maximum and $20,000 in its cheapest. A couple of days ago, Tom Lee stated that the BTC fair value is a lot higher than the current price.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might reach $28,000 by 2019. He believes the demand for BTC would increase with its decreasing distribution. He made 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 leader and founder of Galaxy Digital said that he believes BTC wont reach$9K annually, and its probably to split beyond $10,000 in the around the first quarter of 2019. This may take BTC into sky-reaching heights because it might soar way ahead of the all-time-high $20K mark. .
Fran Strajnar comes up with a very optimistic prediction where he believes that BTC might reach $200,000 from January 2020. He believes that the speed of adoption is directly proportional to the cost increase. The greater the adoption speed, the greater the increase in worth.
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 why not find out more Bitcoin exchange) and the brother of Charlie Lee, Litecoin creator gave an extremely bullish prediction but started with bearish though.
He iterated the industry capital might reach $7 trillion, which may surpass the market cap of gold. .
Zhao Dong, one of the biggest Bitcoin OTC traders in China and an influencer recently forecast that Bitcoin could hit $50,000 by 2021. He cautioned that now is the ideal time to invest in BTC and said that you could get a return of 100 to 200% over 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, and 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 crypto derivatives exchange BitMex, on the other hand, have come with a very pessimistic bearish prediction. He changed his earlier prediction statement dependent on the sudden change in the marketplace. Previously he had stated that BTC has the possibility of reaching $50K at the end of this calendar year, but now he says that BTC will achieve as low as $3K and will continue being bearish for its entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we think that Bitcoin will soar upward according to the predictions stated above. There are several reasons which resulted in Bitcoins price fall such as Bitcoins being used for illicit purposes and therefore many previous mishaps 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 adaptability will probably be higher as more people will begin believing in the technology behind Bitcoin. Bitcoin will reach around $20,000 from the mid of 2019. The more 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 extreme willingness to integrate Bitcoin and other cryptocurrencies into their financial systems by 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 industry optimism in 2020, as not only Bitcoin, but all the major cryptocurrencies will even experience an upward shift. The governments and the central banks will probably adopt the digital currencies, hence the demand should be .