Bitcoin Will Gain 100% Before Halving According To Tom Lee

Bitcoin (BTC) can ship 100% returns to traders in 2020 and will rise considerably within the 5 months till Could’s block reward halving, a brand new report claims.
In its forthcoming 2020 Crypto Outlook, market analysis agency Fundstrat World Advisors stated it believed that the halving was not but “priced into” the Bitcoin worth.

The report is at the moment solely obtainable to the agency’s shoppers, with key findings uploaded to Twitter by co-founder Tom Lee on Jan 10. “For 2020, we see a number of optimistic convergences that improve the use case and in addition the financial mannequin for crypto and Bitcoin — thus, we imagine Bitcoin and crypto complete return ought to exceed that of 2019,” an excerpt states.

Fundstrat continued: “In different phrases, we see robust likelihood that Bitcoin features >100% in 2020.” The elements Lee and others recognized deal with geopolitical tensions and the upcoming United States presidential elections, along with the halving.
Fundstrat took its cue from occasions final yr, noting BTC/USD hit its excessive level amid tensions round Fb’s Libra digital foreign money and destructive feedback on Bitcoin by President Donald Trump.
geopolitical elements type the idea for different commentators’ bullish Bitcoin worth situations for this yr.
As regards the influence of the halving, nonetheless, pundits are much less united. Final month, Jason Williams, co-founder at digital asset fund Morgan Creek Digital, stated Could would show to be a “non-event” for Bitcoin.

Williams appeared to contradict fellow co-founder Anthony Pompliano, who a month beforehand had claimed that even at $8,750, Bitcoin was but to have the halving priced in.

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