Dubious Bitcoin Price Predictions; Thomas Lee Claims Bitcoin’s Value is at Least $13,800

Many market oracles are likely to miss their Bitcoin price predictions for the end of 2018. For example, outspoken market soothsayer Thomas Lee said Bitcoin should be trading at nearly four times its current price while going quiet on his long-lasting $25,000 forecast for the end of the year. Many other alleged experts in the space have made similar predictions.

Speaking to Bloomberg, the Fundstrat Global Advisors Co-Founder and Head of Research cited a number of indicators he suggested placed Bitcoin’s fair value between $13,800-14,800, including the number of active wallet addresses, transactions per account, and “factors influencing supply”.

Lee, perhaps one of Wall Street’s most fervent Bitcoin bulls, has traditionally pointed to levels of usership to make price predictions for the number one cryptocurrency by market capitalization. Not all have come to fruition.

Since inaccurately forecasting a lofty 70 percent rally during New York’s Consensus conference in May, the…