Thomas Lee: Bitcoin Can Gain 100% in 2020

Bitcoin can gain 100% in 2020 and may rise significantly in the five months until May’s block reward halving, says Fundstrat on January 10.

Thomas Lee, Co-founder of Fundstrat has published “2020 Crypto outlook” report on Jan 10, market research firm Fundstrat Global Advisors said it believed that the halving was not yet “priced into” the Bitcoin price.

Bitcoin returned 92% in 2019, trouncing all other major assets classes, an impressive return given the significant policy and regulatory headwinds that emerged in 2019 – the Congressional blowback from Facebook’s Libra and the correlated White House bashing of Bitcoin marked the highs for 2019, said Fundstrat.

Fundstrat continued:

“For 2020, we see several positive convergences that enhance the use case and also the economic model for Crypto and Bitcoin — thus, we believe Bitcoin and crypto total return should exceed that of 2019, In other words, we see strong probability that Bitcoin gains >100% in 2020”.

In 2018, Lee also predicted that Bitcoin would reach $ 36,000 in 2019, he said: “Fundstrat believes that the price of bitcoin will be fixed in the region of $ 36,000 after fluctuations ranging from $ 20,000 to $ 64,000. Analysts’ calculations are based on the dynamics hashrate.”

As AZCoin News reported on January 5, John McAfee backs out of promise to “eat his dick” if Bitcoin fails to hit $1 million. McAfee said the whole thing was “a ruse to onboard new users. It worked.” After that, this has invoked the anger of many Twitter and Reddit users.

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