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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, considers that the break-even cost of mining 1 BTC directly correlates with the price of this cryptocurrency. He believes BTC would increase 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 highest and $20,000 at its cheapest. A couple of days ago, Tom Lee stated that the BTC fair value is much higher than the current cost.
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 left it somewhat clear 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 this year, and its likely to break beyond $10,000 in the around the first quarter of 2019. This may take BTC into sky-reaching heights as it may soar way ahead of this all-time-high $20K mark. .
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it'd require 20b years for BTC to achieve 1 million. Now his prediction totally 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 started with bearish though.
He iterated that 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 might reach $50,000 from 2021. He reiterated that now is the best time to invest in BTC and stated 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 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 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 an extremely pessimistic best site bearish prediction. He changed his earlier prediction statement based on the sudden change in the market. Previously he had stated that BTC has the prospect 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 for the entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we think that Bitcoin will soar up according to the predictions stated above. There are lots of reasons which resulted in Bitcoins cost fall such as Bitcoins being used for illicit purposes and therefore many past mishaps like hacking and thefts. This Site 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 be greater as more people will begin believing in the technology behind Bitcoin. Bitcoin will reach around $20,000 from the mid of 2019. The longer the trading, the more the cost. Additionally, as we know, Bitcoins are rare 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 might function freely and securely. .
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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 even experience an upward change. The governments and the central banks will probably adopt the electronic currencies, hence the demand needs to be .