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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 the cryptocurrency. He considers BTC would grow as he is counting on more institutional investors taking on Bitcoin and also a steady increase in Bitcoin consumer base.Mr.
He's optimistic that increased institutional fortunes would help turn BTC's future around very 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 likelihood of $64,000 in the highest and $20,000 in its cheapest. A few days ago, Tom Lee stated the BTC fair value is a lot greater than the current cost.
Ronnie Moas, a cryptocurrency analyst called 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 must 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 leader and founder of Galaxy Digital said that he believes that BTC wont reach$9K this year, and its likely 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 this all-time-high $20K mark. .
Fran Strajnar comes up with a very optimistic prediction at which he considers that BTC might hit $200,000 by January 2020. He thinks that the speed of adoption is directly proportional to the cost increase. The more the adoption speed, 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 achieve $1 million. Now his prediction completely changed. Bobby Lee, the co-founder of BTCC(Hong Kong-based Bitcoin exchange) and the brother of Charlie Lee, Litecoin creator gave an extremely bullish prediction but began with bearish though.
He iterated the market capital might reach $7 trillion, which may transcend the market cap of gold. .
Zhao Dong, one of the biggest Bitcoin OTC dealers in China and an influencer recently predicted that Bitcoin could reach $50,000 from 2021. He cautioned that now is the best time to invest in BTC and said that you could get a return of 100 to 200 percent 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 could 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 crypto derivatives exchange BitMex, on the other hand, have come with an extremely you could try here pessimistic bearish prediction. He changed his earlier prediction statement dependent on the sudden change in the market. Previously he'd stated that BTC has the possibility of reaching $50K at the end of the calendar 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 as per the predictions stated above. There are lots of reasons which resulted in Bitcoins cost fall like Bitcoins being used for illegal purposes and therefore many previous mishaps like hacking and thefts. Pros outperformed the cons, hence Bitcoin remains 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 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. .
By the end of the year 2019, the Bitcoin cost will reach $23,499, which means that the 2018 bearish trend ends right here and shifts to the bullish trend.
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The cryptocurrency market will experience a market confidence in 2020, as not only Bitcoin, but all the major cryptocurrencies will even experience an upward shift. The governments and the central banks will embrace the electronic currencies, hence the demand should be more.