Tom Lee Says Bitcoin’s Fair Market Price is $14,800 – BTC News Today

According to crypto bull Tom Lee, Bitcoin’s dismal price of $3,400 isn’t right because its fair market value is actually $13,800 to $14,800. Lee who is the founder of Fundstrat said he made the assessment after considering the total number of active wallet addresses, supply metrics and usage per account.

Lee believes the price of Bitcoin (BTC) improving is going to depend on mainstreaming of the digital asset and growing consumer adoption. The crypto bull also stated that the fair market value of Bitcoin (BTC) would easily rise to $150,000 if the number of active BTC wallets approach 7% of the 4.5 billion account holders on Visa.

Lee Says Focus Shouldn’t be on Price Alone

Although Lee has always made countless headlines due to his Bitcoin (BTC) price targets, the crypto expert has refused to give any target this time, saying he is getting annoyed with the pathological obsession with daily price fluctuations. “We have become tired of people asking about target prices,” he asserted. Despite the current bear market, Lee still remains bullish about the future of the industry as we move forward into 2019, this is evident by his gleeful tweet about the holiday with the Rockettes.

We can recall that four weeks ago, it was reported that Lee doubled-down on his Bitcoin (BTC) target for year-end at $15,000, insisting that the current market downward movement is an “awkward transition” one that will surely pass. According to Lee, the next big shift is just around the corner in the first part of 2019 will be institutional investors making huge leaps into the crypto space.

Early 2019: The Date Bitcoin Futures is Set to Launch?

To encourage institutional investments, Bakkt, which is already facilitating bitcoin futures trading, will launch on January 24 next year. Bakkt will offer both custody and price discovery for BTC (which is now regulated by the CFTC as a commodity) in a way that will stop market manipulation as well as fraud. In similar fashion, Nasdaq, the world’s second-largest exchange, is looking to launch a Bitcoin futures product in early 2019 according to CCN.

Roger Ver: The Future of Crypto is ‘Brighter Than Ever’

Tom Lee’s bullish outlook is also echoed by Bitcoin (BTC) enthusiast and Bitcoin Cash (BCH) evangelist Roger Ver. Last week, Ver asserted that the future of digital currency “remains brighter than ever.” Ver who has been a polarizing figure in the space with many nicknaming him the “Bitcoin Jesus,” dismissed the claims of skeptics’ that the common hacks in the digital asset ecosystem prove that cryptocurrency is a magnet for fraudsters. Ver clapped back at skeptics saying the hacks or repeatedly attempted hacks are bullish signals that virtual currency is here to stay.”

According to Ver, the high-profile hacks underscore that digital currencies are highly valuable.

Bitcoin (BTC) Price Today – BTC / USD

NamePrice24H %
bitcoin
Bitcoin(BTC)
$0.00-0.15%

Galaxy Digital Holdings founder Mike Novogratz also remains unfazed by the current state of the crypto market. “Revolutions don’t occur overnight,” Novogratz said.

He predicts that next year will be a watershed period because big things have started to happen behind the scenes. Hence we should be prepared for a major explosion. According to him “FOMO,” the acronym for fear of missing out is going to drive the market up because crypto assets will gain more mainstream acceptance.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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