Tom Lee: the market unfairly evaluates Bitcoin

Home » BITCOIN » Tom Lee: the market unfairly evaluates Bitcoin
Tom Lee: the market unfairly evaluates Bitcoin

The well-known Bitcoin-optimist and co-founder of Fundstrat Global Advisors Tom Lee is convinced that the fair price of the first cryptocurrency is in the range of $ 13,800 – 14,800, reports Bloomberg.

Nevertheless, BTC is currently trading at around $ 3,320. Lee explains such low current values ​​of the first cryptocurrency with the overwhelming take-off last year, the “catastrophic” macroeconomic climate, as well as massive sales of digital stocks of ICO-projects.

Analyst’s judgments about the fair value of Bitcoin in the range of $ 13,800 – 14,800 are based on the growing number of active addresses of BTC wallets, demand factors and various indicators of the use of the first cryptocurrency.

“The fair price is significantly higher than the current market value of Bitcoin,” – Li shares her thoughts. – In fact, if you go from the reverse, in order to justify the current price of Bitcoin, you need to reduce the number of cryptotographs from 50 to 17 million “

Mass acceptance and recognition of Bitcoin as an asset class, in his opinion, are key factors for the growth of cryptocurrency after 2018. If the number of BTC wallets reaches at least 7% of the Visa user base of 4.5 billion accounts, then, according to the Tom Lee model, the fair price of the first cryptocurrency will be $ 150,000.

This time, the analyst declined to share an updated bitcoin price forecast.

“We are tired of people asking about target price targets,” – he said.

  • bitcoinBitcoin$3,683.45
  • rippleXRP$0.327369
  • ethereumEthereum$122.75
  • tetherTether$1.00
  • eosEOS$2.45
  • stellarStellar$0.107380
  • litecoinLitecoin$32.56
  • cardanoCardano$0.045348
  • tronTRON$0.024348
  • moneroMonero$45.25
  • iotaIOTA$0.313927
  • nemNEM$0.056988
  • dashDash$72.34
  • neoNEO$8.03
The complexity Bitcoin mining is growing
As a result of the next recalculation of the complexity of mining Bitcoin on the night of January 14, this figure increased by almost 5%. The complexity of mining is a parameter of the blockchain network, which shows how difficult it is to perform a mathematical calculation to find a new unit and, accordingly, to […]
2019-01-18 0 5
Bitcoin volatility fell by 98% over the year.
Since January last year, the first cryptocurrency volatility has decreased by 98%. So, if on January 16, 2018, this figure was $ 3,468, then a year later – only $ 61, notes CoinDesk Markets analyst Omkar Godboul. The daily volatility over the past year decreased from 9.1% to 3.6%, although on December 16, 2018 was […]
2019-01-17 0 8
Will Ethereum hard fork Constantinople be launched this week?
Ethereum, one of the largest and most influential blockchains in the world, is planning to improve its code in the near future. A massive system upgrade, or hardfork, called “Constantinople” will include a number of technological improvements called to enhance practicality and the architecture of smart contracts. The Ethereum community will make a final decision […]
2019-01-15 0 31
The Brit​ish citizen was trying to buy a gun with cryptocurrency
David Mitchell, a 48-year old British citizen, was arrested by the US police after an attempt to purchase a gun with cryptocurrency via the dark web. Mr. Mitchell was planning to buy a Glock 9mm pistol which costs around £2,000. The man explained to the court that he was curious whether it is possible to […]
2019-01-14 0 18
© 2017–2018