Tom Lee Bitcoin’s price had been predicted that it will hit $40,000 by March 2020. The Crypto King Bitcoin just reached its high in October 2019 at $10,000. The price dropped and again increased to $9,750.
The analysts have targeted the market to be Bullish with a steady increase in the prices of Bitcoin. Tom Lee has stated that Bitcoin will rise back up to $27,000 by the end of 2020. With a steady rise in the prices of Bitcoin in 2020, there are going to be a lot of positive activities happening in Bitcoin in 2020.
Lee Bitcoin forecast in 2020:
Different from last year, when Bitcoin was washed down, but as elections are nearing, Tom Lee Bitcoin has predicted that Bitcoin prices will increase strongly. Tom Lee also researched that apart from the elections, the fear of coronavirus could also push Bitcoin to the highest point.
Another Bullish event is expected to be held very soon which would lead to an increase in the making of Bitcoin every day to 900. As the gains have condensed from 12 to 6 coins, this bullish event will only direct to inflation from 3.2 percent to 1.8 percent of the crypto coin.
Bitcoin continues to rise in 2020:
Bitcoin has set a new record in the last few days as it rose beyond the 200-day moving average, representing that crypto is back in the bull market. Bitcoins lead to a gain of around 200 percent in the last five months.
However, with this new record, the crypto Bitcoin is going to hit all the high in 2020 which is around $27,000-$30,000. The latest prediction of Tom Lee Bitcoin may end up in a similar situation which he exclaimed that the Bitcoin prices would rise to $30,000 which did not happen.
The Bitcoin price actions in the year 2019 have not been so impressive. Tom Lee, who is a Bull expert, is still confused as to where the currency is going to head next in the coming years. Prices cannot be predicted accurately by any means, but it surely leads to exciting debate. Tom Lee had high expectations about the Bitcoin prices being hiked to $30,000 in 2020, but he will have to change his hope. Although the price of Bitcoin reached $10,000 earlier in 2019, the price still remains very volatile.
Recently, Tom Lee had updated that the Bitcoin Price may not reach the expected prediction in the said timeline. He had to drop his prediction to $25,000 in 2022, instead of $40,000 by 2020. This looks very Bearish, yet a bullish outlook for the world’s leading cryptocurrency. This news came out when the prices of Bitcoin was showing signs of downfall in the market. Tom Lee’s predictions about the price of Bitcoin has been wrong all through the years quite frequently than not. This happens with most of the experts as the markets are very volatile and difficult to predict at times.