On April 4, Tom Lee (founder of Fundstrat Global Advisors and a popular Wall Street analyst) said that the fair price for Bitcoin is at least $ 14,000. This is not Lee’s first statement on cryptocurrency for CNBC.
Speaking on CNBC's “Squawk Box”, Tom Lee told that the price of Bitcoin is only being restored. He said that the first cryptocurrency should cost at least $ 14,000.
Tom Lee about Bitcoin
According to the comments of the founder of Fundstrat Global Advisors, the cryptocurrency market needs a little more time and investor support for prices to become “fair.”
Interesting in the section: What you did not know about cryptocurrency. 7 interesting facts from the world of digital money
“Last year and the beginning of this year were crushing for Bitcoin. Now it is just beginning to recover (...) Now it is noticeably slow, but steady growth and stabilization of the market – Tom Lee for Squawk Box on CNBC
In addition, Lee noted that after the change in the trend of the Bitcoin price, “old wallets”, that is, long-time users, coin holders, became more active. This can be a positive catalyst for future price increases. The more coins in circulation, the faster the rate will recover and crypto volumes will increase.
Also, according to Lee, whales' crypto wallets, which “leaked” Bitcoin at the peak, have activated. It also means that the coin will soon rise in value.
“A large number of old Bitcoin whale wallets have become active again, there is a slow but steady accumulation” – Tom Lee on Squawk
According to Wall Street analyst, the price of Bitcoin is “not fair.” Given the costs of miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details, the cost of the first cryptocurrency should be at least $ 14,000.
Interesting in the section: Golem: Opportunities and Prospects
A Wall Street analyst, Tom Lee, said that the price of Bitcoin should be at least $ 14,000. The minimum cost is calculated by taking into account the average daily consumption for mining the coin and maintaining the Bitcoin blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details network. Recall that some cryptocurrencies have already managed to rise in price.
Editor: Yuliya Soroka