One of Bitcoin's biggest enthusiasts and the first Wall Street analyst to do criptomoedas reports,
Tom Lee said in a report last Thursday (15) that the price collapse earlier this year should
Continue. For the founder of Fundstrat Global Advisors, the digital currency will only begin to show signs of
reaction when hit the bottom of $ 5,873.
"When the feeling is weak, the market gets more and more 'first do, then think', which means that
any news today is likely to trigger a sale, "Lee said in a report signed with
Robert Sluymer. Last month, Lee had already said he sees the bitcoin firing for $ 20,000 up to half
of the year.
The news about market regulation discussions around the world is heavy on the market, in addition to the
recent decisions by Facebook and Google to ban crypto-currency ads on their platforms.
However, other factors help to understand the recent falls, including the history of the criptomoeda itself.
Currently, bitcoin is traded at a mining cost of $ 8,038, based on a model of the
data scientists at Fundtrat Sam Doctor and Ken Xuan. The digital currency reached its bottom in 2015,
when it was in the same relative multiple of mining costs that today, and reached its peak in 2013,
when it was at 21 times its mining costs.
In addition, March is seasonally the worst month for Bitcoin, with the world's largest crypto-currency
has risen only once in the last seven years. On the other hand, April has proved to be one of the strongest months
of the year in historical prices, with five monthly highs in seven years.
we have many experts who are saying many things. Most important for us believers in the technology not to worry about it and do not react on panic in the market because of price drop.
