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Tom Lee was bought by bitcoin during a sharp price dump.
Founder and Chief Analyst of Fundstrat Global Advisors Tom Lee took advantage of the recent decrease in the price of bitcoin to replenish its crypto-currency portfolio. He told about this in an interview with CNBC.
"We buy bitcoins on this rollback. Over the past month, the fundamental value of bitcoin has increased due to the growth in the number of new registered purses. This explains the growth of our short-term price forecast, "Lee said.
In addition, he raised the forecast for bitcoin in the middle of 2018 from $ 11,500 to $ 20,000.
"We revised our forecast for mid-2018 to reflect a surge in activity in recent months. Looking ahead, I note that we expect that by the middle of 2018, the number of wallets with unique IP addresses will grow by 50%, and activity per user - by 10% from current levels, "the new report says.
We add that even with the recent drop, the growth of bitcoin from the beginning of 2017 was 1360%.
Founder and Chief Analyst of Fundstrat Global Advisors Tom Lee took advantage of the recent decrease in the price of bitcoin to replenish its crypto-currency portfolio. He told about this in an interview with CNBC.
"We buy bitcoins on this rollback. Over the past month, the fundamental value of bitcoin has increased due to the growth in the number of new registered purses. This explains the growth of our short-term price forecast, "Lee said.
In addition, he raised the forecast for bitcoin in the middle of 2018 from $ 11,500 to $ 20,000.
"We revised our forecast for mid-2018 to reflect a surge in activity in recent months. Looking ahead, I note that we expect that by the middle of 2018, the number of wallets with unique IP addresses will grow by 50%, and activity per user - by 10% from current levels, "the new report says.
We add that even with the recent drop, the growth of bitcoin from the beginning of 2017 was 1360%.
- Buying bitcoin, you go against the interests of narrow groups
- When buying bitcoin, you go against a corrupt government
- When buying bitcoin, you are going against an outdated financial system
- Buying bitcoin, you are fighting against global economic inequality