Tom Lee, an analyst at Fundstrat Global Advisors, has reduced its forecast of the exchange rate of bitcoin to $10 thousand, the newspaper writes CNBC. Now he predicts major bitcoin rate in $15 thousand by the end of the year.
A new forecast If, how and older, are based on the cost of mining one BTC. He believes that this figure directly correlates with the price of the home currency. Li pointed out that the S9 Antminer from Bitmain lowered the cost of mining one BTC from $8000 to $7000, so price is the end of the year may be 2.2 times above that value.
He also drew attention to the situation with Bitcoin Cash, which was recently divided into two parts. Lee, like other analysts, believes that the bearish behavior of its course, two new cryptocurrencies are indebted to the hard forks, as this “civil war” lowers investor confidence in the currency.
The decision Whether to soften its forecast suggests that his faith in bitcoin have fallen, but he’s not going quite it “let go”, though the recent drop below $6000 was hit hard in his position.
“The fall of bitcoin below $6000 caused a new wave of pessimism on the stock market, but we believe that things are even worse than I do.” Discuss current news and events on the Forum