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An eminent cryptic analyst who once directed Bitcoin to reach $ 25,000 by the end of 2018 is reducing its forecast to $ 15,000. The last bitcoin bearish run has led investors to see the worst sentiment of the encrypted market.
Bitcoin to reach $ 15,000, Lee
However, Tom Lee, a co-founder of Fundstrat Global Advisors, is betting on a recovery. When he studied the depth of the market for the period 2013 and 2015, he stated that "he never advocated a move below the rupture". He affirms it;
"While the bitcoin broke under that psychologically important $ 6,000, this has led to a renewed wave of pessimism, "said Lee, former chief stock strategist of J. P. Morgan." But we believe that the negative oscillation in sentiment is much worse than the fundamental implications. "
Market fluctuations
As we see, media bulletins often influence market moves – when the headlines indicate the positive flow of the market, the price of the crypto is appreciated and the negative bulletins certainly depreciate its total volume. As a result, Lee notes that the "controversial discussion on bitcoin money" has led to a decrease in the market price at the end. In particular, "Specific event for Crytpo as the hard bet of bitcoin money in which the virtual currency would be divided into" Bitcoin ABC or Core Bitcoin Cash and Bitcoin SV or Satoshi & # 39; s Vision. "However, one must think that Bitcoin Cash same is a fork of Bitcoin, bifurcated on 1 August 12017.
Stime Lee;
The fair value for Bitcoin would be 2.2 times the new break-even price of $ 7,000. "
At the time of printing, Bitcoin is valued at $ 5,540.97 with a market capitalization of $ 96,303,375.926. Moreover, for the first time ever, Ethereum is down compared to XRP and while Ripple's capitalization is above Ethereum and Bitcoin Cash. Stellar glued to the fifth position crossing EOS with a market capitalization of $ 4,626,642,570 and $ 4,123,959,893 respectively.
To bet, Bitcoin is still in first place, which is certainly the strong point with which people have continued to negotiate and invest.
Summary
Item name
Tom Lee lowers the target from $ 25,000 to $ 15,000
Description
An eminent cryptic analyst who once directed Bitcoin to reach $ 25,000 by the end of 2018 is reducing its forecast to $ 15,000. The last bitcoin bearish run has led investors to see the worst sentiment of the encrypted market.
Tom Lee, a co-founder of Fundstrat Global Advisors, is betting on a recovery. When he studied the depth of the market for the period 2013 and 2015, he stated that "he never advocated a move below the break"
Author
tabassum
Publisher name
Coingape
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