Tom Lee: why the prediction for bitcoin growth during the Consensus conference did not come true

May 31, 2018

The founder of the research firm Fundstrat Global Advisers, known for his positive predictions about the digital assets, Tom Lee predicted a rise of bitcoin up to 64 thousand dollars by the end of next year. The main reason is the increase in crypto-mining. At the same time, as it was said in the analysis of the financier, in 2020 bitcoin will be traded at the level of 91 thousand dollars.

Previously, Lee said that the most popular cryptocurrency is destined to replace gold. Moreover, the exchange strategist predicted a significant increase in BTC during the annual May conference Consensus (as it was last year), but bitcoin and other crypto-currencies fell in price. The analysts explained this fact, they said that the goals of the conference did not include the involvement of investors and new supporters in the crypto-currency industry.

Thomas Lee blamed the uncertainty in the regulation of digital assets in price fall. The analyst said, that it is necessary to involve large financial institutions in the industry for the development of the cryptocurrency sector. Nevertheless, Li optimistically looks into the future: “A jerk to the Consensus did not happen, but the cryptocurrencies became stronger”.

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