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Bitcoin suffered an uncomfortable conclusion until 2018. BTC lost 5.4% on Thursday 13 December and lost almost 4% on the previous Friday, according to Bloomberg data. But despite the crypt continuing its five-week set of losses, a member of the industry remains optimistic about his prospects.
The largest crypto in the world is currently valued at $ 3,252 (£ 2,589) starting at 12:00 GMT in December according to CoinDesk.com – a value not seen since September 2017.
And where bitcoin goes, others follow.
Cryptos including ethereum and bitcoin cash have followed the example, suffering losses against the USD.
The main cryptos have plummeted 50-80% compared to bitcoins in the last six months.
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Thomas Lee, head of research at Fundstrat Global Advisors, announced in May an encryption of $ 25,000 (£ 19,901) by the end of 2018.
And although things do not play in his favor, Mr. Lee remains resolute.
The bitcoin should be priced between $ 13,800 and $ 14,800 (£ 10,985 and £ 11,781), he said.
This prediction is based on the amount of portfolios, on account use and supply factors, he said on Thursday.
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His explanation for the divergence includes the 2017 explosive rally, a "merger" in the macroeconomic climate and treasury sales during initial coin offerings.
"The fair value is significantly higher than the current Bitcoin price," he wrote.
"In effect, working backwards, to solve the current price of Bitcoin, this implies that cryptographic portfolios should fall to £ 13,533 million from £ 39,800 million at present."
The acceptance of BTC as an asset class and greater adoption are among the factors that will catalyze the initiative until 2019.
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If the Bitcoin portfolios approach only seven percent of Visa's 4.5 billion account holders, the fair value would be $ 150,000 for Bitcoin according to its model, he said.
"We are tired of people asking us for target prices," he said, refusing to update his year-end forecasts.
Comparing Bitcoin with other payment systems in terms of value of the social network, Lee believed that in ten years the bitcoin could be worth $ 10 million per currency.
The total crypt has earned 17 million verified users in 2018.
In the first three quarters of this year the number of cryptocurrency users verified by ID has almost doubled, from 18 to 35 million.
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