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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 price of this cryptocurrency. He considers BTC would grow as he's counting on more institutional investors taking on Bitcoin and also a continuous increase in Bitcoin user base.Mr.
He's 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, together with the probability of $64,000 at the maximum and $20,000 in its cheapest. A few days back, Tom Lee stated the BTC fair value is a lot greater 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 supply. He left 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 leader and founder of Galaxy Digital said that he considers that BTC wont hit $9K annually, and its probably to break beyond $10,000 in the around the first quarter of 2019. This might require BTC into sky-reaching heights because it might soar way ahead of the all-time-high $20K mark. .
Fran Strajnar comes up with an extremely optimistic prediction where he believes that BTC might reach $200,000 from January 2020. He thinks that the rate of adoption is directly proportional to the cost increase. The more the adoption rate, the more the increase in value.
Bobby Lee, CEO of Chinas first exchange- BTCC said before that it would require 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, which may transcend the market cap of gold. .
Zhao Dong, one of the biggest Bitcoin OTC traders in China and an influencer recently forecast that Bitcoin might hit $50,000 from 2021. He reiterated that now is the ideal time to invest in BTC and stated that you could get a return of 100 to 200 percent Clicking Here 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 said 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 an extremely 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 by the end of the year, but now he states that BTC will reach as low as $3K and will continue being bearish for the entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we believe that Bitcoin will soar up as per the predictions stated above. There are several reasons which led to Bitcoins cost fall such as Bitcoins being used for illicit purposes and so 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 start believing in the technology behind you could try this out 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, 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 setting up controlled markets which could function freely and safely. .
By the end of the year 2019, the Bitcoin cost 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 major cryptocurrencies will even experience an upward shift. The governments and the central banks will adopt the digital currencies, hence the demand should be .