{"id":3161,"date":"2018-11-17T23:50:53","date_gmt":"2018-11-17T23:50:53","guid":{"rendered":"https:\/\/atozcrypto.org\/?p=3161"},"modified":"2018-11-17T23:53:32","modified_gmt":"2018-11-17T23:53:32","slug":"tom-lee-trim-down-his-target-of-25000-to-15000","status":"publish","type":"post","link":"https:\/\/atozcrypto.org\/tom-lee-trim-down-his-target-of-25000-to-15000\/","title":{"rendered":"Tom Lee Trim down His Target of $25000 to $15000"},"content":{"rendered":"
<\/a><\/p>\n A prominent crypto analyst who once targeted Bitcoin to reach $25000 by end 2018 is lowering his prediction to $15000. Bitcoin\u2019s latest bearish run has led investors to see the worse sentiment of the crypto market.<\/p>\n However, Tom Lee, a co-founder of Fundstrat Global Advisors is betting on a recovery. When he studied the depth of the market for the period 2013 and 2015, he claimed that the \u201cit never sustained a move below breakdown\u201d. He states that;<\/p>\n \u201cWhile bitcoin broke\u00a0below<\/em>\u00a0that psychologically important $6,000, this has lead to a renewed wave of pessimism,\u201d said Lee, J. P. Morgan\u2019s former chief equity strategist. \u201cBut we believe the negative swing in sentiment is much worse than the fundamental implications.\u201d<\/a><\/p>\n As we see the media bulletins often affects the market moves \u2013 when headlines point positive flow of the market, the price of crypto appreciates and the negative bulletins certainly depreciate its total volume. Consequently, Lee notes that the \u201ccontentious argument over bitcoin cash\u201d has led the price of market diminishes eventually. Notably, \u201cCrytpo-specific event like the hard fork of bitcoin cash where virtual currency would split into \u201cBitcoin ABC or Core Bitcoin Cash and Bitcoin SV or Satoshi\u2019s Vision\u201d. However, one must think that Bitcoin Cash itself is a fork of Bitcoin, forked on August 01, 12017.<\/p>\n Lee estimates;<\/p>\n Fair value for Bitcoin would be roughly 2.2 times the new $7,000 breakeven price.\u201d<\/p><\/blockquote>\nBitcoin To Reach $15000, Lee<\/a><\/h2>\n