Financial analyst, co-founder of Fundstrat Global Advisors and former chief strategist at JPMorgan Chase Tom Lee (Tom Lee) has lowered its forecast about the price of bitcoin by the end of 2018, but continues to assert that over the next month and a half leading cryptocurrency will rise to $15 thousand per unit.
If bases its prediction on the basis of the definition of “breakeven point“ where the cost of mining bitcoin is equal to its trading price. If before this point was at the level of $8 thousand for the extraction of the PTS with Antminer S9, but now it has dropped to $7 thousand. At the same time, according to Lee, the price of bitcoin can be correlated with the cost of mining in the ratio of about 2.2:1.
Analysts believe that the drop in GCV is below the psychological level of $6 million associated with the new wave of pessimism among investors, caused for example by events around Bitcoin Cash. Lee also believes that the emergence of the stock market players like Bakkt and Fidelity, talks about the development of the infrastructure necessary for more active involvement in the field of institutional clients.
Recall from the beginning of 2018, Whether or not claimed by the end of the year the bitcoin price will reach $25 thousand, and in July it lowered its forecast to $22 thousand. In this November 14, the price of VTS noticeably lost and at the moment, according to CoinMarketCap, is at $5550,46 per unit.