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    January 19, 2018

    Tom Lee predicts Bitcoin will top $25,000 USD by the end of 2018

    Tom Lee

    In a new interview with CNBC, Tom Lee has predicted that Bitcoin may top values north of $25,000 USD by the end of the year.

    Tom Lee has previously indicated his belief that Bitcoin would top $25,000 USD values by the end of 2022, but now, in a new interview with CNBC, the Fundstrat co-founder has moved that claim forward by four years.

    Lee now predicts that Bitcoin will see values north of the $25,000 USD mark by the end of 2018, and further elaborated that he sees the cryptocurrency reaching values above the $125,000 USD mark by 2022.

    Read: Citing use cases in emerging markets, Goldman Sachs quips cryptocurrencies are ‘real money’

    Lee’s views come after a massive dip in cryptocurrency markets, wherein Bitcoin itself fell to values just below the $10,000 USD mark before bouncing back to $11,000 USD.

    The strategist remains optimistic, however, quipping that “We expect bitcoin’s major low to be $9,000, and we would be aggressive buyers around that level…We view this $9,000 as the biggest buying opportunity in 2018.”

    In the past, Lee has correctly identified some of Bitcoin’s major price movements – most recently, the strategist identified Bitcoin’s one-day plunge to $10,400 USD on December 22nd.

    Identifying new opportunity

    In the interview, Lee further made predictions on three other cryptocurrencies. Chiefly, Lee predicts that Ethereum would reach values north of $1900 USD by the end of the year.

    Similarly, the strategist expects to see Ethereum Classic climb by some 90% to touch values above $60 USD, while he similarly believes NEO could climb to $225 USD by the close of 2018.

    Lee added that tactical rotations into other cryptocurrencies could provide opportunities for investors to outperform Bitcoin’s gains.

    Read: Jamie Dimon ‘regrets’ calling Bitcoin a fraud, says ‘the blockchain is real’

    Have your say!

    What values do you believe Bitcoin could reach in 2018? Could Lee be off the mark? Be sure to let us know your opinion in the comments below!

    Follow Bryan Smith on Twitter: @bryansmithSA

    Listen in to our latest podcast!

    • Lawrence H

      I can see some value in the block-chain technology itself, but I have to wonder about the sanity of buying a completely virtual/imaginary currency like Bitcoin – or any of the other fake cryptos.

      • Bernd Jendrissek

        Can you name any currency that isn’t “imaginary”? I’m going to anticipate that you’re thinking of something like the US Dollar. How is it not also “imaginary”? The vast majority of USD in the economy are just numbers in a database somewhere and have no physical manifestation. And those that are physically manifested, the majority are paper. How is paper money not “imaginary”? What distinguishes it from any other random piece of paper, say, an office email printout? The only thing “real” here, and this is something the USD has in common with Bitcoin (although to a different degree), is the willingness of (at least some) people to exchange goods or services for some negotiable amount of it.

        • Lawrence H

          Good question. Any unit of exchange (metal, paper or numerical) that is backed by a government has significantly more credibility in that it has official utility value, even though it might not be commodity based. Bitcoin is backed by nothing and by no one, making it a total thumb suck/fraud from a legal point of view. On one hand money is a form of power while on the other hand it is worthless on its own. Even the great stores of gold are priceless form one point of view but worthless from another! Much of the value comes from what people believe something to be worth. In that sense numbers rule the world….

          • Bernd Jendrissek

            I don’t think that “backed by a government” means anything special. All it means is that a government is willing to exchange goods or services for it, just like some people are willing to exchange goods or services for bitcoin. That is a difference, but only a quantitative one, in that a government is a much larger part of an economy than any individual bitcoin-accepting supplier is.

            And also, governments can renege on their “backing” too. Consider Zimbabwe, where their actions caused runaway inflation. I would consider that an act of “un-backing”, in that you no longer could get the goods and services for your Zimbabwe Dollars that you might have reasonably predicted based on such “backed by the government” thinking. (I don’t think the US economy is anywhere near this state of affairs.)