Analysts Fundstrat Tom Lee (Tom Lee) and Robert Clymer (Robert Sluymer) believe that the price of bitcoin will rise soon, despite the fact that cryptocurrency is holding steady near $7000. According to their forecast, it will be $25 000 per unit.
Tom Lee, co-founder of analytical Agency Fundstrat, today is the most famous expert in the field of cryptocurrency. He constantly speaks in the media with comments on topics relating to the industry.
Lee is confident in its forecast regarding the exchange rate for bitcoin, as it believes that traditional institutions, such as banks, will enter into a new industry, because they see it profitable business opportunities. In addition, he believes that regulators will treat the cryptocurrency sector more loyal as to involve a large number of financial institutions. Also you mentioned that the best indicator to assess how to use bitcoin, is the cost of mining one unit.
“The full cost of mining bitcoins in the next year will be about $14 000, reflecting the growing complexity,” — said the analyst.
As bitcoin is held by mining, its rate will rise to match the cost of these expenses.
Meanwhile, another analyst Robert Slimer drew attention to the fact that the rate of bitcoin should be kept sufficiently high at least, if the market will stay in the “bear” state. Claimer believes that bitcoin is now on the way to “break” a bad trend, and prices may rise. The analyst noticed that the current situation is similar to that held prior to the temporary increase of the rate occurred at the beginning of this year.
“The start button is already there. All we need to see is a real breakthrough and overcoming some key levels”.
One of these levels is the level of $7800 to which bitcoin almost got last week, but has not yet been able to overcome. According to Slimer, reaching this level would mean a change of trend to the opposite. However, the analyst does not exclude the worst-case scenario: if bitcoin will stabilize in the neighborhood of $7000–$7350, followed by its further reduction. However, Slimer believes that such a development less likely.
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