Bitcoin Watch – Fundstrat Global Advisors co-founder drops prediction by 20%

In an interview with CNBC yesterday, Fundstrat Global Advisors co-founder Tom Lee said he believes Bitcoin will increase in value to USD20,000 by the end of the year, 20% less than his previous estimate. Mr Lee said: “Bitcoin has historically traded at 2.5 times its mining costs. It’s not out of the question that it could be over USD20,000 by the end of the year at fair value”. Originally Lee had projected a value of USD25,000 by the end of year, but has since reviewed this due to rising difficulty in mining Bitcoin.

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