Top analyst Tom Lee predicts Bitcoin 100% growth in 2020
- Bitcoin is likely to grow 100% according to the soon to be released report by Tom Lee’s Fundstrat.
- Lee says that the current value of Bitcoin is not reflective of May 2020 halving event.
The founder of Fundstrat Tom Lee in an overview report regarding Bitcoin said that BTC has the potential to grow 100% in value by the end of 2020. Although the report has not been released, Lee believes the May halving event will play a major role in the growth.
However, other experts such as the founder of Morgan Creek, Jason Williams say that halving will be insignificant to Bitcoin performance this year. Williams terms his opinion as unpopular probably because the majority of the people in the industry expect the halving event to push BTC to new highs.
Unpopular Opinion -
— Jason A. Williams (@JWilliamsFstmed) December 1, 2019
Bitcoin halving in May 2020 won’t do anything to the price. It will be a non-event.
Lee highlighting some sections of the soon to be released report said that the current Bitcoin price is not reflecting the value of the halving. Lee also shared an excerpt of the report, which said:
“For 2020, we see several positive convergences that enhance the use case and also the economic model for crypto and Bitcoin — thus, we believe Bitcoin and crypto total return should exceed that of 2019.”
The report predicts:
In other words, we see strong probability that Bitcoin gains >100% in 2020.
Also read: Cryptocurrency Market Update: Bitcoin breaks $8,500 as bulls return in large numbers
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
