Tom Lee believes in Bitcoin growth to $ 15,000 by the end of the year.

Home » BITCOIN » Tom Lee believes in Bitcoin growth to $ 15,000 by the end of the year.
Tom Lee believes in Bitcoin growth to $ 15,000 by the end of the year.
2018-11-19 in BITCOIN

Tom Lee, a financial analyst and co-founder of Fundstrat Global Advisors, somewhat lowered his previous predictions regarding the price of Bitcoin, but still believes in its growth and that the first cryptocurrency can rise to $ 15,000 per coin before the end of the year. He made this statement in an interview with CNBC.

In May, when the Bitcoin price more than $ 8,000, Tom Lee predicted that his price would rise to $ 25,000 by the end of the year, but in July he revised his forecast, calling the figure at $ 22,000. He based his forecast on the fact that the cryptocurrency fair price should be 2.5 times higher than the cost of its production, having estimated this figure at $ 9,000 by the end of 2018.

He adheres to a similar position now, speaking of the need to build on the “self-sufficiency point” – the level at which the cost of mining Bitcoin corresponds to its trading rate. According to Fundstrat, for Bitmain S9 Antminer devices, this level has now dropped to $ 7,000. At the same time, Lee also lowered the ratio between the price and the cost of mining for a bitcoin mining to 2.2.

It is on this basis that the analyst calls the figure of $ 15,000. The current overall negative trend in the markets, which culminated in a sharp decline in the price of Bitcoin earlier this week, does not bother him either.

“Bitcoin fell below the psychological mark of $ 6,000 dollars, which caused a new wave of pessimism. But we believe that a large part of this recession falls on the pessimistic mood of investors, and not on fundamental factors, ” – said Tom Lee.

He also noted that for the broader involvement of institutional investors in cryptocurrencies, infrastructure development is needed ”, referring to this, for example, the initiatives Fidelity and Bakkt.

CRYPTOCURRENCIES
  • bitcoinBitcoin$5,087.96
  • ethereumEthereum$163.18
  • rippleXRP$0.325009
  • tetherTether$1.01
  • eosEOS$5.29
  • stellarStellar$0.114568
  • litecoinLitecoin$77.99
  • cardanoCardano$0.083559
  • tronTRON$0.026233
  • moneroMonero$64.97
  • iotaIOTA$0.315112
  • nemNEM$0.066377
  • dashDash$119.24
  • neoNEO$11.07
What is Cryptocurrency? How to Use, the Future of Crypto, the History of Bitcoin
Cryptocurrency market is actively developing and expanding. This relatively new industry is causing a lot of questions and attracting a huge number of investors, businessmen and ordinary people. “What is the future of cryptocurrency?”, “How to choose cryptocurrency exchange?”, “How to sell Bitcoins?” “What about cryptocurrency mining”? Millions of people read cryptocurrency news everyday and […]
2019-04-08 0 49
What is Bitcoin?
The cryptocurrency industry is becoming more and more popular all around the world. Despite the fact that there are more than 1000 different cryptocurrencies and the number keeps growing, cryptocurrency is often associated with Bitcoin. Bitcoin is the first modern cryptocurrency in the world; it attracts thousands of users and investors from different countries. Millions […]
2019-03-20 0 46
Bitcoin, Ethereum, Ripple, Monero, Dash, Tron: major differences and features
Investors see different names of cryptocurrencies and the movement of their courses, but typically don’t even know why the digital coins are so popular. Most of us have already Googled “How to buy Bitcoin” or “How to sell Ethereum”. Cryptocurencies are becoming more and more popular: Bitcoin price is fluctuating and its value is not […]
2019-03-19 0 45
What is Blockchain?
“Giving users easy access to many different kinds of digital assets on the blockchain and, particularly, tokens that are linked to assets in the real world, is crucial to seeing blockchain adoption reach the next level, and I applaud Digix Global’s initiative in being the first of many such projects to successfully launch” – Vitalik […]
2019-03-06 0 43
© 2017–2018