Tom Lee And Max Keiser See Bitcoin Price Hitting $20,000 In 2018
Two of the most important investors and analyst in the cryptocurrency world are very bullish about Bitcoin (BTC). Indeed, they believe that Bitcoin could see $20,000 before 2018. We are talking about Max Keiser and Tom Lee.
They seem very optimistic for the mid-term trend of Bitcoin. In the last hours, Bitcoin was able to reach $7,200 dollars, a value not seen since the beginning of August. Other important virtual currencies are also showing positive gains in the last 24 hours.
During the last month, Bitcoin was traded between $6,500 and $7,000. But now, the market is experiencing a bullish movement.
According to a tweet written by Max Keiser, he still supports the idea of Bitcoin reaching $28,000 this year.
— Max Keiser, tweet poet. (@maxkeiser) September 1, 2018
There are several companies that are starting to build infrastructure for institutions to enter the cryptocurrency market. We are talking about the Intercontinental Exchange and its Bakkt platform, and Coinbase.
The U.S. Securities and Exchange Commission (SEC) has decided to reject an important number of crypto-related exchange traded funds (ETFs) in August. This created a short dip in the market but without extreme effects. However, Jonathan Hamel of Academie Bitcoin in Montreal, explained that the rejections of these ETFs are not important for the market because infrastructure is being built for institutional investors.
“I don’t think [the rejections] are that important,”
“The ‘physical’ over-the-counter/institutional bitcoin infrastructure is only getting started. The development of financial vehicles backed by bitcoin is inevitable. It’s not if, it’s when.”
This is something similar to what Tom Lee thinks about. The market is moving towards institutions and companies know it. This will clearly have an important impact on Bitcoin’s price.
At the moment of writing, Bitcoin is being traded close to $7,200 dollars and has a market capitalization of $124 billion dollars. In the last 24 hours, it has registered an increase of 2.41%. Other virtual currencies such as Ethereum (ETH), XRP or Bitcoin Cash (BCH) are also registering important gains.