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Surprising Forecast
In the Thursday morning issue of CNBC's morning pre-market release, Tom Lee, co-founder of Fundstrat, released his price forecast for Bitcoin. According to him, the fair value could reach $ 22,000 by the end of the year, but more likely $ 20,000. That would mean a gain of about 150% in five months. He corrected his statement from the previous month, which was $ 25,000, and said investors should not be around a few thousand.
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Current Status
After the recent peak of $ 9,800 in May, cryptocurrency has lost about 30% of its value to date. The encryption trade must also be content with negative numbers, only bitcoin can be approximately stable. Despite this rather lean development in the recent past, Lee remains bullish and discouraged, sticking to his predictions. It ranks the underlying technology of Bitcoin and Blockchain only in the early stages of a transformation that could last several decades.
The Degradation of Bitcoin as Rationale
The question of whether Lee's forecast of rising mining costs is related to the early stages of technology is not directly apparent. Currently, high performance computers consume a lot of power through a series of complex bills that need to be created. In addition, about 80% of the 21 million Bitcoin protocols are already taken. Currently, the cost of operating at full capacity at $ 7,000 US, these will reach $ 9,000, according to Lee. A price forecast of $ 20,000 makes sense for these upfront costs from a historical perspective only, since Bitcoin is trading at 2.5 times its mining cost. Such a high price can not be excluded for him.
Editors finanzen.net
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