Fundstrat Is Sure That Mining Will Have a Positive Impact on the Cost of Bitcoin

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On May 10, the founder of Fundstrat Global Advisors, Tom Lee, published another forecast regarding the prices for Bitcoin, saying that by the end of 2019 the coin value would be $ 36,000.

Conducted by Quantamental Strategist Fundstrat Sam Doctor, analysis of the dependence of the price on Bitcoin and the production of cryptocurrency showed that the cost of cryptocurrency will vary between 20 000 and 64 000 dollars in 2019.

The calculations focused on such an aspect as Mining Breakeven Cost Metric, which is also known as P/BE. It is this indicator that provides a high level of support in the long term. Tom Lee reported that:

“We expect the mining economy to grow over the next several years, and project a BTC price of ~$36,000 by year end 2019 based on the historical average 1.8x P/BE multiple.”

Source: Twitter

It is worth noting that the target value Bitcoin presented in the analysis, in general, coincides with previous forecasts of Tom Lee, who assured that the cost of Bitcoin will reach $ 25,000 by the end of 2018.

It is worth noting that the survey conducted in the study showed that most users are confident that by the end of the year the cost of Bitcoin will be 10 000-20 000 dollars for one coin.

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