Fundstrat’s Tom Lee has forecasted that Bitcoin’s fee will reach $91,000 via March 2020, basing his prediction on a chart that suggests Bitcoin’s (BTC) performances after past market dips, Forbes pronounced March 17.
Lee and Fundstrat used a mean of the percentage won in charge after each dip to reach at the 2020 figure.
The Forbes piece notes that because the chart is based totally on a logarithmic scale rather than the traditional linear-based totally graph, BTC’s highs and lows aren't as distinct.
Lee has been predicting high costs for BTC for the reason that its price became under $three,000. In July 2017 Lee had already said that Bitcoin could hit $55,000 by means of 2022. greater these days, in January of this year, Lee stated that BTC might hit $25,000 by means of the end of 2018.
Lee and Fundstrat also these days launched the “Bitcoin distress Index” in early March, which is described as a “contrarian index’ that shall we traders recognise how “miserable” BTC holders are at the current rate.
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