Fundstrat’s Tom Lee has forecasted that Bitcoin’s worth will achieve $91,000 by March 2020, basing his prediction on a chart that displays Bitcoin’s (BTC) performances after previous marketplace dips, Forbes reported March 17.
Lee and Fundstrat used a median of the share received in worth after each and every dip to reach on the 2020 determine.
The Forbes piece notes that for the reason that chart is in response to a logarithmic scale versus the standard linear-based graph, BTC’s highs and lows don’t seem to be as distinct.
Lee has been predicting prime costs for BTC since its worth was once under $three,000. In July 2017 Lee had already said that Bitcoin would hit $55,000 by 2022. More not too long ago, in January of this yr, Lee stated that BTC would hit $25,000 by the top of 2018.
Lee and Fundstrat additionally not too long ago launched the “Bitcoin Misery Index” in early March, which is described as a “contrarian index’ that lets investors know how “miserable” BTC holders are on the present worth.