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Tom Lee predicts that Bitcoin will reach $ 91,000 by March 2020, depending on performance after the last falls
Bitcoin would reach $ 91,000 by 2020
Fundstrat's Tom Lee predicted that the price of Bitcoin will reach $ 91,000 by March 2020, and bases its prediction on a graph showing Bitcoin (BTC) performance after market declines in the past, Forbes reported. March 17.
Lee and Fundstrat used an average percentage of the price gained after each fall to reach the 2020 figure.
The piece by Forbes points out that because the graph is based on a logarithmic scale as opposed to the traditional linear graph, the BTC highs and lows are not that different.
Lee has been predicting high prices for BTC since its price was below $ 3,000. By July 2017, Lee had already declared that Bitcoin would reach $ 55,000 by 2022. More recently, in January of this year, Lee He said that BTC would reach $ 25,000 by the end of 2018.
Lee and Fundstrat also recently published the "Bitcoin Misery Index" in early March, which is described as an "opposite index" that allows investors to know how "miserable" BTC holders are at the current price.