According to Tom Lee, co-founder of Fundstrat Global Advisors, in March 2020 the price of Bitcoin will reach $ 91,000. The Wall Street analyst relies on this hypothesis, with its forecast on the chart, which shows the rise in bitcoin (BTC) after the recent market failures. This is reported by Forbes.
To calculate the price index for 2020, Lee and Fondstrat used the average percentage earned in the price after each subsidence.
As Forbes notes, since the chart is based on a logarithmic scale, rather than on a traditional linear diagram, the maxima and minima of the BTC are not so different.
Tom Lee predicts high bids for BTC, since his price was less than $ 3,000. Recall that in July 2017, Lee has already stated that by 2022 bitcoin will reach $55,000. In addition, in January this year, Lee said that by the end of 2018, the BTC would reach $ 25,000.
In early March, Lee and Fundstrat participated in the release of the “Bitcoin Misery Index”, which is described as the “opposite index”. This allows investors to understand how “unlucky” BTC owners are at current prices.