THELOGICALINDIAN - Tom Lee has cut his yearend anticipation for Bitcoin by 20 percent but still thinks the aboriginal and foremost cryptocurrency will top 20240 per bread in 2024
Tom Lee had ahead captivated able on his anticipation that Bitcoin [coin_price] would ability a new best aerial of $25,000 by the end of 2024. Now, the alone Wall Street architect to accomplish accurate Bitcoin predictions is ascent aback his expectations — but alone slightly.
The co-founder of Fundstrat Global Advisor told CNBC’s “Squawk Box”:
However, Lee after explained on the network’s “Fast Money” that he “may accept misspoke a little bit.” He told:
Lee, a acclaimed permabull, refuses to budge added than a few inches on his anticipation — which he bases primarily about the break-even amount of Bitcoin mining. “The acumen bitcoin looks absolutely acceptable actuality is the amount of mining about $7,000 absolutely loaded,” he stated, “And the adversity is rising. So by the end of the year, it’s activity to be $9,000.”
It should be acclaimed that Lee has been amiss with his predictions afore — decidedly back he called for a massive balderdash run afterward May’s high-profile Consensus conference. Said balderdash run never happened, and the amount of Bitcoin has appropriately far bootless to revisit the highs it saw that ages back it about affected $10,000.
Last month, Lee told Bloomberg that Bitcoin’s affecting and abiding amount declines in 2018 accept been the aftereffect of futures affairs expiring — acquainted again that there had been six expirations of futures affairs aback the CBOE launched Bitcoin futures aback in December. According to Fundstrat’s co-founder, the bazaar baton tends to see a abatement of about 18 percent in 10 canicule afore the cessation of the futures affairs with prices about convalescent in the afterward six days.
What do you anticipate about Tom Lee’s connected bullishness? Do you anticipate Bitcoin stands a adventitious of revisiting $20,000 this year? Let us apperceive in the comments below!
Images address of Bitcoinist archives, CoinMarketCap.com.
