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Will Bitcoin Cost $ 40,000?

06/24/2019
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Thomas Lee, one of the founders of Fundstrat Global Advisors, is confident that bitcoin price will reach $ 40,000 in the coming months. After crypto winter ends, the upward movement cannot be stopped. Even as we speak, the BTC/USD pair has reached $ 10,000 level.

Fear of Missing Out

The letter that the expert sent to his clients indicates the reasons for such an optimistic forecast. According to Thomas Lee, FOMO will now take possession of the market. Those investors who have not entered the market at the minimum levels will seek to catch up.

Over the last month, Bitcoin managed to grow by 17% and reach the mark of $ 10,700. The overall growth was more than 200% over the period of three months; back in March, the BTC/USD pair was around the mark of $ 3,500.

The expert said that $ 10,000 mark was of critical importance for bitcoin price. After its overcoming, nothing can stop the uptrend, and the cost should double the record high of 2017. It was reached at the level of $ 19,100 per coin, but then the same rapid trend reversal followed.

The First Cryptocurrency Billionaire on the BTC/USD Pair

Tyler Winklevoss also passed his opinion upon this issue. He is confident that after exceeding $ 10,000 level nothing can stop Bitcoin, and it will reach $ 15,000 threshold. Moreover, he posted this on Twitter when the pair was at $ 9,700 level. Last weekend, there was a sharp asset demand on the markets, which allowed it to rise in price by $ 1000.

There was an increased cryptocurrency demand on the platforms on weekends. Bitcoin trade turnover rose to $ 1.4 billion.

The brothers Winklevoss became the world's first cryptocurrency billionaires. Back in 2012, they bought 10% of all bitcoins at a price of $ 9 per share, spending about $ 11 million on it. Now, a similar action would require about $ 12 billion. Moreover, the total bitcoin blockchain capitalization is already approaching the level of $ 200 billion.

Why Does Bitcoin Grow?

The publication of Libra’s White Book by Facebook caused a sudden surge of interest in cryptocurrency. The document published on June 18 created an uproar not only in the financial environment, but also among ordinary users. The token underlying in the new blockchain has a fixed cost and is not intended for speculation. Nevertheless, it sparked public interest in digital financial assets.

The Head of the Central Bank of France said that the Group of Seven would study Libra project. Francois Villeroy de Galhau said that a special working group would be created under the leadership of Benoit Coeure, European Central Bank board member.

World financial elites can no longer ignore cryptocurrencies. Libra project caused stormy discussion early at the discussion stage. They involve the Heads of FRS, the Banks of England, France and other countries. According to Kaspersky Lab study, in 2018 less than 10% of respondents stated that they understand cryptocurrency mechanisms. Stormy discussion of new projects will increase the number of informed people. This means that there will be much more potential investors.

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