When do you think Bitcoin will go back to the $20,000 mark and what factors do you think could contribute to making it happen sooner rather than later?
According to a Bitcoin investor, Tom Lee Bitcoin is slated to reach almost $ 25,000 by the end of 2018. He further thinks that it will rise to $ 125000 by 2022. These numbers are quite bullish. According to a report by Fundstrat Global Advisors, the recovery in Bitcoin will be pretty fierce as well. Also, most of the experts believe that by the month of July, there will be a complete recovery. After that, Bitcoin will again be able to head to newer highs as well. This is the reason why many investors think that it will be able to hit new highs consistently during the 2nd half of the year.
According to Lee, Bitcoin will be used much more predominantly during the 2nd half of the year. The acceptance of Bitcoin will also keep on growing. He further added that once Bitcoin crosses the older highs, the movement will be back. If indeed that happens, you can be sure that it will be able to create consistent new highs as well.
Blue-chip among cryptocurrencies:
He also thinks that Bitcoin and Ethereum are actually the blue chips among cryptocurrencies. This is the reason why investors should think about investing in both, Bitcoin as well as Ethereum.
When they are invested in over a longer period of time, you can be sure that the return which you will be able to get will be enormous as well. This is the reason why many of the investors are actually confused whether they should invest at the present levels or whether they should avoid investing at the present levels.
One thing which is for sure this is that Bitcoin has been gaining a lot of prominence in the last few days. Moreover, the momentum seems to be returning as well. If indeed, it is able to gain back the momentum, it will be able to rise much faster as well. Also, the awareness regarding Bitcoins as well as cryptocurrencies is increasing consistently as well. This is another reason why investors will be able to easily make a good amount of return in Bitcoin in the next few years.
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