Crypto News

Thomas Lee: the price of BTC will rise 100%

Researchers Fundstrat published a report which stated that in the next five months the price of BTC will rise in two times.

Head of the research Department Fundstrat’s Thomas Lee has published a forecast of the price movement of bitcoin in 2020. The report says that this year’s ROI in BTC will reach 100 percent. Positive results will depend on 3 factors.

The first two factors, which will be a catalyst for the growing popularity of bitcoins, will be the conflict between Iran and the United States and elections in the United States. The stock market usually reacts to geopolitical tensions increased demand for alternative ways of maintaining values. In addition, the historic uncertainty around the election results has always served as a price driver PTS.

Finally, another key factor will be halving, which will be held may 20, 2020. The reduction in the reward for mining should reduce inflation. However, the crypto-community is still no consensus about how halving will affect the price of bitcoin.

The report, published by Li, corresponds to the forecast of Bloomberg Crypto Outlook for 2020. The forecast States that the volatility of BTC will decrease, and it will reach a new annual high of 14 000 USD.

Head Blockstream’s Adam Back also sure that bitcoin will break all records and reach prices in the 50 000 dollars this year.

Source:

forknews.io

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