CNBC reported that Tom Lee, a strategist at Fundstrat, has released his valuation of Bitcoin.
The next five years
Market commodity and stock assessment expert Mr. Lee made estimates based on the limited supply of Bitcoin and market stability. He is not the first such bullish forecast. Well-known stock picker and strategist Ronnie Moas also raised a sharp rise, even in the short term.
What drives demand?
Lee believes that one of the main market drivers for Bitcoin is the elimination of gold demand. As the economic situation continues to attract the attention of many investors, vehicles like Bitcoin can be a way of storing values that are similar to gold and other precious metals.
According to Lee, the supply is limited, because not more than 21 million inherent units, the dispersion of the encrypted currency makes the bit currency as a safe period of economic uncertainty.
"In other words, there is a lot of room for the growth of encrypted money."
Lee did accept the volatility of Bitcoin's reality because its annualized volatility was 75%, and that gold had the same effect in the late 1970s, saying: "From 1971 to 1980 , Gold has a volatility of nearly 90% because the US has given up the gold standard - so we expect to improve over time. "
Source
The next five years
Market commodity and stock assessment expert Mr. Lee made estimates based on the limited supply of Bitcoin and market stability. He is not the first such bullish forecast. Well-known stock picker and strategist Ronnie Moas also raised a sharp rise, even in the short term.
What drives demand?
Lee believes that one of the main market drivers for Bitcoin is the elimination of gold demand. As the economic situation continues to attract the attention of many investors, vehicles like Bitcoin can be a way of storing values that are similar to gold and other precious metals.According to Lee, the supply is limited, because not more than 21 million inherent units, the dispersion of the encrypted currency makes the bit currency as a safe period of economic uncertainty.
"In other words, there is a lot of room for the growth of encrypted money."
Lee did accept the volatility of Bitcoin's reality because its annualized volatility was 75%, and that gold had the same effect in the late 1970s, saying: "From 1971 to 1980 , Gold has a volatility of nearly 90% because the US has given up the gold standard - so we expect to improve over time. "
Source
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