Fundstrat Global Advisors, an independent research boutique, serving a broad array of clients, including institutional investors predict Bitcoin to reach 36,000 USD by the end of 2019.
Sam Doctor, strategist at Fundstrat recently published a report stating that one Bitcoin could be worth around 36,000 USD by the end of 2019. The prediction is mentioned in a report for clients on Thursday and stresses that “the Price / Miner’s Breakeven Cost multiple has proven a reliable long-term support level, further, that the likely trajectory of future mining infrastructure growth should underpin the Bitcoin price appreciation into year-end 2019.”
Despite the optimistic forecast which is substantiated with concrete facts, Fundstrat also emphasizes that the price can vary from 20,000 to 64,000 USD.
In an interview with CNBC in January 2018, Tom Lee, managing partner at Fundstrat predicts Bitcoin to reach 25,000 USD at the end of 2018 and 125,000 USD by 2022. He said: “We expect bitcoin’s major low to be $9,000, and we would be aggressive buyers around that level.” adding “We view this $9,000 as the biggest buying opportunity in 2018.”
After the interview with CNBC, the price of Bitcoin dropped from 11,500 down to 6,000 USD only two and a half weeks later on the 6th of February. A decline of nearly 50 percent.