RATE Group | Bitcoin’s Fair Market Price is $14,800, Says Cryptocurrency Bull Tom Lee
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Bitcoin’s Fair Market Price is $14,800, Says Cryptocurrency Bull Tom Lee

14 Dec Bitcoin’s Fair Market Price is $14,800, Says Cryptocurrency Bull Tom Lee

Posted at 01:24h in Cryptocurrency News by

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Tom Lee Fundstrat bitcoin cryptocurrency

Cryptocurrency bull Tom Lee says bitcoin’s dismal price of roughly $3,400 is wrong because its actual fair market value is $13,800 to $14,800.

The Fundstrat founder said he made the assessment by considering the number of active wallet addresses, usage per account, and supply metrics.

“Fair value is significantly higher than the current price of Bitcoin,” he wrote in a note, as reported by Bloomberg. “In fact, working backwards, to solve for the current price of Bitcoin, this implies crypto wallets should fall to 17 million from 50 million currently.”

Lee said bitcoin’s price going forward will depend on mainstream acceptance of the cryptocurrency as an asset class and growing consumer adoption.

He also insisted that bitcoin’s fair market value would easily rocket to $150,000 if BTC wallets approach just 7 percent of Visa’s 4.5 billion account holders.

Tom Lee: Stop Focusing Only on Price

While Lee has made countless headlines for his bitcoin price…

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