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Wall Street analysts are confident that Bitcoin will hit $ 15,000 in the next 12 months

May 5, 2020

A technical researcher at Wall Street market research firm Fundstrat Global Advisors has said that Bitcoin, the main cryptocurrency on the market, could hit $ 15,000 in the next 12 months.

This market appreciation arises amid the price hike Bitcoin has seen in recent days. The cryptocurrency has seen increasing fluctuations from a price of USD 7,000 to a price of USD 9,500.

While some have said that this price move suggests Bitcoin is a hedge pattern, A leading Wall Street analyst has suggested that the recent surge is just the beginning of a further recovery in the crypto market.

Trust Bitcoin

Wall Street analysts are confident that Bitcoin will hit $ 15,000 in the next 12 monthsWall Street analysts are confident that Bitcoin will hit $ 15,000 in the next 12 months

That’s how it’s done David Grider, the leading digital strategist at Wall Street analytics firm Fundstrat Global Advisors, said his company is confident and optimistic about Bitcoin’s progress. Despite the fact that last year was a terrible year for cryptocurrencies with a massive bear market,

In this sense, the digital strategist explicitly cited that halving is a positive catalyst:

“We are optimistic for the next 12 months and expect prices to rise in half and possibly later.”

While the recent cryptocurrency recession led to a loss of confidence in Bitcoin, the recovery that followed shortly thereafter shows that some analysts and investors are again optimistic.

This is the case with the founder and CEO of Global Macro Investor, Raoul Pal, who recently said he was quite optimistic about Bitcoin after the asset recovered from its drop in prices.

Tom Lee is confident that cryptocurrencies will hit new highs

Fundstrat Global Advisors founder, Tom Lee, predicted that cryptocurrency prices will hit new highs by 2020. Lee made his comments during an interview with CNBC on April 28.

In the interview Lee predicted that Bitcoin has not yet completed its upward trend and is expected to reach new all-time highs around 2020 “11 signals that historically only take place on a bull market.” So Lee repeated his earlier prediction when he said that “A bull market would probably start.”

These signs indicate, according to Lee, that Bitcoin has not yet finished climbing and that these catalysts are “likely” to reach a new all-time high by 2020.

He also shared a positive feeling TwitterThis explains that Bitcoin’s past performance shows that it not only benefits from halving, but also as “Solid risk and as protection against catastrophes.”

Other signs of this recovery would be related to Bitcoin’s recent strong performance: over $ 6,400 with little resistance.

With that in mind, the important thing about this event is that the recovery in question for Bitcoin has been key over the past 18 months. The rally of Bitcoin at this level could give the impression that the cryptocurrency is on an upward trend in the medium term.

More predictions

In a message to customers on May 2, Fundstrat analyst Robert Sluymer said that while Bitcoin’s current strength marks the beginning of a long-term upward trend, the accumulation phase is not yet complete. finished.

Sluymer followed Bitcoin’s growing bullish sentiment in analyst circles, including his colleague Tom Lee from Fundstrat this week, who also revealed that, as mentioned earlier, he was optimistic about next year.

According to Lee, Bitcoin should hit new all-time highs of over $ 20,000 in 2020. For Fundstrat, Bitcoin is preparing to spend $ 10,000 again.

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