Lee Names Factors For Bitcoin to be Worth $150,000

Lee Names Factors For Bitcoin to be Worth $150,000

Since mid-November bitcoin has been experiencing turmoil when it started falling from the margin of $6,300. As of writing, BTC’s price is $3,311, one of the lowest marks this week (the lowest was on December 7 — $3,288). 

The drop has spurred debates in the crypto-community, and even one of the most known Wall Street bitcoin-bulls Tom Lee had to halve his prediction regarding this coin. Lee used to preach that by the end of 2018 BTC would be traded at $25,000 but then he named a less ambitious price of $15,000. Later on, he stood by this forecast. 

In a recent note, Lee claimed that the current price of the «big daddy» does not reflect its genuine value. The veteran market analyst is convinced bitcoin is worth more —$150,000 in a long run.

Lee Opines that BTC Price Must be Higher

Tom Lee, one of the Global Advisors’ founding fathers, as well as crypto-enthusiast, in a note on December 13 said bitcoin’s fair price is much higher than what we see today, Bloomberg reports. 

Lee believes that in fact, bitcoin is worth $13,800-$14,800. His opinion is based on:

  • the quantity of active wallet addresses
  • Drivers which affect supply
  • usage per account


But why is bitcoin’s price different now? The expert explained that the difference is related to BTC’s 2017 record of $20,000, a macroeconomic “meltdown,” as well as «treasury sales» during ICOs. 

“In fact, working backwards, to solve for the current price of Bitcoin, this implies crypto wallets should fall to 17 million from 50 million currently,” added Lee. 

What Will Make Bitcoin Grow Again?

Earlier Lee held on his previous $15,000 prediction. This time he named factors which could make bitcoin’s price increase — mass adoption and acknowledgement of it as an asset class.

Moreover, Lee stated, once bitcoin wallets make up 7% of Visa’s account holders (which are 4.5 billion), the «fair value» of BTC would be $150,000 per unit. 

Bitcoin Era Success Story: Teen Hits Jackpot With Crypto Trading
17-Year Old Hits The Jackpot With Cryptocurrency Trading Venture The news media has been swept up in a tornado with the latest news of a...
What Everyone Should Know About Tokenization
Blockchain tokenization is a means of digital representation of a right and can be done with the help of a ledger. This can be a right to asset...
Bitcoin’s Volatility? In 2017 BTC Was More Stable Than In Its Early Days
Despite some 30% crashes in 2017, bitcoin managed to increase by total 1,400% last year, conquering the world’s financial stage. Banks are becoming...
Stablecoin - Everything You Need to Know
What Is A Stablecoin? You must have heard of cryptocurrency which has been the recent talk of the town. Well, stablecoins are a form of...
Gold Pulls Bitcoin Investors From BTC, Says Van Eck Associates CEO
In 2017-2018 bitcoin bit gold as bait for investors. However, the situation is expected to change in 2019 as investors already hope more for the gold...
Crypto-Supporter Milne Said Bitcoin’s Only Ledger to Last 100 Years
As bitcoin continues trading approximately Twitter thread entrepreneur Alistair Milne forecasted that the upcoming cyber money bull will decide which...
Increased Supply of Altcoins Will Depress Bitcoin, Says St. Louis Fed Report
As it is known, crypto-supporters (bitcoin bulls) widely believe that the increase in the capped supply of all cyber-coins will boost bitcoin’s value...
BTC Market Cap Will Surpass $7 Trillion Gold Cap, Say Winklevoss
Recently, Tyler and Cameron Winklevoss, world-known entrepreneurs and early supporters of cryptos, have taken part in Reddit’s traded at $4,061 and...
Crypto-Community Celebrates Bitcoin’s 10th Birthday
This year’s January 3 marks a decade since the first bitcoin block was generated by Satoshi Nakamoto. Back then, in 2009, this person (or group of...
Best Bitcoin Memes in 2018: ‘Hodling’ and Crying
2018 has not been an easy year for bitcoin, not at all. Whereas it left 2017 at the price of $10,000, it started the new year in a pretty bullish...