While the price of Bitcoin is stabilizing around $ 10,000 and 50% below the December summit, Fundstrat strategist Tom Lee continues his prediction. Bitcoin is still reaching the $ 25,000 mark this year. He also sees a strong momentum for crypto coins that some major companies will use this year.
Mid January Tom Lee predicted that the largest crypto coin in the world will record new records in 2018, despite the strong correction of the last months.
“Bitcoin will once again book new records in 2018. Probably we will see the first new record in mid-2018 [at $ 20,000]. Then in the second half of the year the price can rise further and the price can easily double compared to the current level. ”
The successful trader says that these moments of low prices after a strong correction offer the best opportunities to buy Bitcoin:
“Since mid-2016, the largest crypto coin in the world had 6 periods in which Bitcoin rose more than 75% and 6 sell-off periods in which Bitcoin corrected more than 25%. So what happened to Bitcoin since mid-December is nothing unusual. What the stock market takes years to do, the crypto market in months. ”
Tom Lee also expects Ethereum to increase to $ 1,900 this year, an increase of about 90%. Ethereum Classic also sees Lee rise sharply in 2018. For NEO he gives a price target of $ 225.
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Lee also sees momentum among traditional companies looking for technological innovation. This year there are already several large companies that bet on crypto coins.
The Japanese e-commerce company Rakuten announced the launch of its own crypto coin. Another Japanese company, Line, announced an in-app crypto trading platform and its own crypto exchange.
Lee also expects major US technology companies, Facebook and Amazon, to announce this year that they will do something with crypto coins and / or blockchain. Starbucks is also considering its own crypto coin. For example, Facebook could reward users with an ICO instead of rewarding investors with stock options, Tom Lee suggests.
Source: CoinTelegraph, slimbeleggen