Tom Lee’s Fundstrat Bitcoin Price Prediction Machine Revs Up Again: Improvements Will Increase Value
Fundstrat Global Advisors is a research company in New York, and they publish a report yearly regarding the financial state of the economy, with a particular interest in cryptocurrency.
Based on the new report that is presently available, there are multiple improvements that the company believes that can be made in the crypto industry to increase crypto prices. The co-founder of Tom Lee, who is also an analyst on Wall Street with a particular warmth for cryptocurrency, spoke on the study via Twitter. Introducing the report, he stated,
“We see 9 incremental improvements in the landscape that ultimately support higher prices.”
The report starts with an assessment of last year, speaking on the problems with initial coin offerings (ICOs), the difficulties and issues in regulatory measures, and even the overjoyed reactions. Each of these issues have caused problems in the industry. However, this year, the analysts believe that there will be some changes.
While mass adoption is something that the industry may not be prepared to take on yet, the researchers believe that a recovery in the crypto prices may be a possibility. They say,
“Is 2019 the mainstream breakout year? Nope. But that is not necessary for crypto prices to eventually bottom in 2019, and by the end of 2019, we expect prices to be staging a visible recovery.”
Value and strength in the United States dollar is expected to weaken this year, while will be a catalyst to the price recovery of Bitcoin. The report also shows hope that the market equities in cryptocurrency will start to surpass the performance of U.S. stocks and bonds, which creates a nice place for cryptocurrency to thrive. Institutional investments are also expected to increase as OTC trading and custody solutions thrive, which will play a role in the recovery as well.
Binance is specifically named in the report as well, due to their decision to provide a way for credit card crypto purchases. Initial public offerings seem to be the adequate replacement for ICOs, which Bitfury and Bitmain have implied are on the horizon.
On Friday, Bitcoin broke past the $3,600 mark for three days, which happened at the same time of the research report’s release. Other major cryptocurrencies also benefited that day with double-digit gains.
CRYPTO: we see 9 incremental improvements in the landscape that ultimately support higher prices.
See below… pic.twitter.com/7DSrfVjkoi
— Thomas Lee (@fundstrat) February 8, 2019