Wall Street's Tom Lee Cuts His Year-End Bitcoin Price Target by About 20 Percent

Written by:
Guest
Published on:
Jul/05/2018

Any return approaching his $20,000 forecast for bitcoin by the end of 2018 would be up about 200 percent, Fundstrat co-founder Tom Lee argues.  Lee is the only major Wall Street strategist to issue bitcoin price targets.

"Bitcoin has historically traded at 2.5 times its mining costs. It's not out of the question that it could be over $20,000 by the end of the year at fair value," the Fundstrat Global Advisors co-founder said on "Squawk Box."

Since its most recent top around $9,800 in May, bitcoin has lost about 30 percent.  Lee remains undeterred, citing the rising cost of mining bitcoin that could restrain supply and push prices higher.

Crypto's rough road ahead in the second half from CNBC.

Video News News

Bookie Software for Dummies

One of the best bookie software for dummies in the industry is AcePerHead.com. They provide a service for bookies of any size throughout the world, and at an easy-to-understand price structure that starts at just $3 per active player per week. 

Own Your Own White Label Bitcoin Site for Bookies

If you are an independent sports bookmaker trying to build a year round business with multiple stream of revenue, then you best course of action is to find a Pay Per Head site that can provide you with the best online gambling software to handle a number of different internet betting applications.

CFP Championship Game Betting Preview 2024

America loves an underdog story, but the majority of the United States is rooting against the “dogs” (Washington Huskies) in Monday’s CFP National Championship game.  Michigan has been hovering between a -4 and -4.5 favorite.

Syndicate