Tom Lee, an analyst with Wall Street and co-founder of Fundstrat Global Advisors, confirmed the relevance of his forecast for Bitcoin’s cryptocurrency – the strategist believes that by the end of this year the cost of BTC will reach $25 thousand.
In an interview with representatives of Bloomberg, analyst Tom Lee stressed that his forecast of $25 thousand for Bitcoin is still relevant. One of the reasons that Lee holds his position so firmly is his belief that traditional financial institutions such as banks will one day actively invest in crypto assets, as they will see in this sector many new opportunities that can generate revenue.
— Bloomberg Crypto (@crypto) June 6, 2018
In addition, Lee believes that more active regulation of the cryptocurrency market will have a positive impact on the adoption of digital assets by institutional investors. The analyst also mentioned the cost indicator, like BTC mining, he believes that total costs of Bitcoin-mining next year will reach $14 thousand. These data testify to the complexity of the mining activity. Thus, according to Lee, the BTC rate will keep at the level of the mining costs, which means that, if necessary, the price of Bitcoin will rise to the cost of mining operations.
Robert Sluymer, who is also a representative of Fundstrat Global Advisors, noted that he and his co-thinkers believe that for some time Bitcoin’s value will continue to decline, reaching about $7,000, after which the rate will start to grow again.