March 28, 2024

Tom Lee: Bitcoin will cost $ 91,000 by March 2020

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Tom Lee, founder and chief analyst at Fundstrat Capital, predicts that Bitcoin will be worth $91,000 by March 2020, based on previous cryptocurrency scenarios.

Lee and Fundstrat's forecast is based on the average percentage gains that Bitcoin exhibited after each deep correction.

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The analyst provided such a forecast to Forbes. The publication notes that since the calculations are presented on a logarithmic scale, in contrast to traditional linear calculations, maximums and minimums can be determined only with a large share of error.

Lee predicted strong growth in prices forcryptocurrency since Bitcoin reached $3,000. Last July, an analyst made a forecast according to which the cryptocurrency could reach a price of $55,000 by 2020. In January of this year, Lee suggested that Bitcoin would cost $25,000 by the end of 2018. It seems that since then his predictions regarding the future of digital gold have become even more optimistic.

Earlier this month, Lee and Fundstrat also unveiled the Bitcoin Misery Index, which also showed a bright future for the cryptocurrency.

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