Thomas Lee, managing partner and head of research for independent research company Fundstrat Global Advisors, said that Bitcoin's “fair value” (BTC) is $ 14,000.
“2018 was a harsh year for Bitcoin, but for most of 2019 it gradually went up. The reason for this could be positive changes in adoption, in addition, as you know, the first cryptoketes continue to buy Bitcoin . Thus, there is a slow and steady accumulation. ”
By “first whales,” he meant “the very first Bitcoin owners,” some of whom liquidated their assets in December 2017, and now, it seems, are buying up the asset again.
He then listed other factors potentially behind this price rally:
“There were other positive developments, for example, preparation of the launch of Bakkt … hyperinflation and the political crisis in Venezuela and Turkey. Plus, as soon as the cryptocurrency broke through the resistance level, many investors perceived this as a signal to buy, the resources for that were ”.
Lee also noted that the expected approval of the US Securities and Exchange Commission (SEC) Bitcoin-ETF will be "of great importance", although it is likely to happen "much later than any of us expects."
In conclusion, Lee noted that, in his opinion, at the moment "the fair price of Bitcoin is $ 14,000."
Publication date 06/04/2019
Share this material on social networks and leave your opinion in the comments below.
