Thomas Lee: BTC price will rise by 100%

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Fundstrat researchers have published a report indicating that the price of BTC will double in the next five months.

Head of Research, FundstratThomas Lee published a forecast of the price movement of bitcoin for 2020. The report said that this year, the return on investment in BTC will reach 100 percent. Positive results will depend on 3 factors.

The first two factors that will bea catalyst for the growth of bitcoin popularity, will be the conflict between Iran and the United States and US elections. The crypto market tends to respond to geopolitical tensions with increased demand for alternative ways to preserve values. In addition, historical uncertainty around election results has always served as a price driver for the MTC.

Finally, another key factor will behalving, which is due to take place on May 20, 2020. The reduction in mining remuneration should lower inflation. However, in the crypto community there is still no consensus on how halving will affect the price of bitcoin.

The report published by Lee is consistent with the forecastBloomberg Crypto Outlook 2020. The forecast noted that BTC volatility will decrease and it will reach a new annual high of $ 14,000.

Blockstream CEO Adam Back is also confident that Bitcoin will break all records and reach a price of $ 50,000 this year.