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The cryptocurrency bull and co-founder of Fundstrat Global Advisors Thomas Lee said that "the fair value of Bitcoin (BTC) is significantly higher than the current price," reported Bloomberg on 13 December.
In a note delivered on Thursday, the veteran market analyst reported that the fair value of Bitcoin is between $ 13,800 and $ 14,800, considering the number of active addresses in the portfolio, the use of accounts and the factors influencing the 39; offer. Lee attributed the divergence to the meteoric rise of last year, a macroeconomic "merger" and treasury sales during the first coin offerings (ICO). Lee stated:
"In fact, working backwards, to solve the current price of Bitcoin, this implies that cryptographic portfolios are expected to fall to 17 million from 50 million at the moment."
Among the key factors driving the value of BTC towards the high, Lee defined the mass adoption of Bitcoin and its acceptance as a class of activity. He also noted that the fair value of the dominant cryptocurrency will reach $ 150,000 per currency, once the BTC portfolios account for 7% of Visa 4.5 billion account holders.
Lee has repeatedly expressed his optimistic position towards the recovery of Bitcoin. Speaking at BlockShow Asia 2018, he noted that Crypto has only 50 million active portfolios so far against the 254 million PayPal accounts in the third quarter of 2018 and 4.6 billion Visa and MasterCard accounts. Comparing Bitcoin with other payment systems in terms of the value of the social network, Lee assumed that in ten years it could be worth $ 10 million per currency.
Despite the recent market crash, Lee reiterated his year-end price forecast for BTC to $ 15,000 at the end of November. The analyst pointed out two main types of cryptographic players, those who are "using it and have cryptographic portfolios" and those that belong to a speculative side of the market.
Cointelegraph today reported that cryptocurrency earned 17 million "verified users" this year, according to a study published by the Cambridge Center for Alternative Finance. In the first three quarters of 2018, the number of cryptocurrency users verified with ID has almost doubled, from 18 to 35 million.
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