BITCOIN, BLOCKCHAIN

Tom Lee Predicts Bitcoin to New All-Time Highs by 2020

Tom Lee, founder of Fundstrat Global Advisors has stated he believes cryptocurrency prices will hit new all-time highs by 2020.

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In an interview with CNBC, Lee said bitcoin (BTC) will likeley reach new historic highs by 2020 based on “11 signs that historically only take place in a bull market.”

According to Lee, three of the 11, blockchain, technical indicators, and trading volumes,  indicate the bottom of the market is likely in.

In January, Lee stated his team noticed trading volumes because positive at an annual rate, while another bullish indicator happened in April, when BTC increased above its 200-day moving average.

Lee stated trading volumes are ““really important in terms of how institutional investors trade crypto.”

“I think you’re seeing signs that fundamentals are improving, technicals are improving, and now there’s real activity by, essentially, crypto hodlers,” said Lee.

“A 2.5 standard deviation move for bitcoin would take it to $14,000. I’m not saying that’s where it’s going to go, but that’s the magnitude of move that would be a catch-up.”

Also in April, Lee’s own “Bitcoin Misery Index” (BMI), which aims to inform how “miserable” BTC hodlers are, recently increased to its highest figure since June 2016.

“The main takeaway is that BMI reaching 67 is further evidence the bear market for Bitcoin likely ended at $3,000.”

In February, Fundstrat released a 2019 cryptocurrency outlook, which mentioned overall interest in the sector may be increased by Binance’s new support of credit cards, along with rumors of an IPO for both Bitfury and Bitmain.

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BLOCKCHAIN, ETHEREUM

Tom Lee: Ethereum to $1,900 by the End of 2019

Tom Lee, Co-Founder of Fundstrat Global has predicted the price of Ethereum (ETH) will see a “trend reversal and rally strongly” to $1,900 by the end of 2019, according to Bloomberg.

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In a statement to Fundstrat Global clients, Lee celebrates ETH’s “overly negative” response and believes it will be the foundation for a convincing rally in Q4 2019.

Lee argued that when ETH “underperformed peers by two standard deviations,” an ensuing revival in price occurs.

He established ETH would hit $1,900 by the end of 2019, 40% higher than the recorded all-time high price of $1,349 on January 13.

Founded in 2015, ETH is the second largest blockchain by market capitalization, behind only bitcoin (BTC), and features an array of features, including smart contracts, and provides an underpinning basis for a range of altcoins utilizing Ethereum Request for Comment (ERC20) protocol. As of September, there are over 105,000 ERC20 tokens.

At press time, the price of ETH is $221, meaning the prediction calls for a 750% increase in a little less than a year.

BITCOIN, BLOCKCHAIN

Tom Lee Predicts Bitcoin Soars to $25k in 2018

Tom Lee, Co-founder Fundstrat Global Advisors, said in an interview with CNBC he predicts the price of Bitcoin will rise to $25,000 by the end of 2018 and $125,000 by 2022.

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“We expect bitcoin’s major low to be $9,000, and we would be aggressive buyers around that level…We view this $9,000 as the biggest buying opportunity in 2018,” said Lee.

The price of the cryptocurrency fell more than 30 percent between Monday and Wednesday dropping below the $10,000 level.

At press time, the price of bitcoin is $11,648 according to popular cryptocurrency exchange, CoinBase.

Lee’s 2018 $25k prediction is based on the ratio of alternative currencies like gold that are going into Bitcoin, as well as, an expected increase in interest from institutional investors and individual users who are getting into the space.

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BITCOIN

Tom Lee: Bitcoin Will Soar to $25,000

Tom Lee, Co-founder Fundstrat Global Advisors, said in an interview with Business Insider that he predicts the price of bitcoin will rise to $25,000 or more.

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His predictions are based off of the capturing of the gold market cap.

According to his research, five percent of gold’s market cap would raise the price of bitcoin to a “conservative” appraisal of $25,000.

“It’s a very — it’s actually the most conservative collection of elements to get to the five percent. Because number one, we assume that gold only appreciates essentially a nominal GDP. So there’s no inflation…The five percent number really reflects the assumption that investors will allocate in their blended portfolio only five percent to alternative currencies…Today, that allocation is much greater, it’s closer to 10 percent or 15 percent in some portfolios. So, at a five percent allocation it would value Bitcoin at $25,000. You could easily get to $100,000, $200,000 numbers,” said Lee.

Lee is semi-conservative on the cryptocurrency through mid-2018, expecting the $6000 mark to continue until then.

“…When people talk about Bitcoin’s volatility today, they’re forgetting that when we went off the dollar — the gold standard on the dollar, gold’s volatility for four years was about the same as Bitcoin’s volatility today,” Lee said.

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