A Bitcoin estimate came from the Fundstrat research and development company, which is well known for Tom Lee's proprietary and accurate estimates of Bitcoin.
In the study of the mining industry, Wall Street-based firm Bitcoin calculated the ratio between the price and mining costs, indicating that this figure is a long-term important point of support for Bitcoin at this stage.
Raporda also indicated that potential developments and improvements in the mining sector will be reflected positively on Bitcoin prices; Towards the end of 2019, there was an emphasis on the fact that the price increase of Bitcoin could become more pronounced.
Successful analyst and strategist Sam Doctor, who took the name Raporda, used the following statements:
"Obviously we have full confidence that the mining economy will grow well over the next few years. Rates and some special studies at the end of 2019 at the end of the Bitcoin price is expected to rise to around 36 thousand dollars. But according to volatile situations and market reactions, this figure can range between $ 20,000 and $ 64,000. "
The Fundstrat company's proprietor Tom Lee shared the analysis with a tweet; and also shared the summary of the report with related details with followers.
Even if Doctor caught 20 thousand dollars, which is the lowest level in this very wide spectrum, between 20 and 64 thousand dollars, this figure is even more than twice the current value of Bitcoin. According to Bitcoin, Coin Market Cap data, this article is being processed at 9,358 USD per minute.
As previously reported, mining companies continue to eat the bite of BitCoin's big rise last year. Bitmain, one of the largest producers of Bitcoin mining equipment in the world, achieved a full profit of $ 4 billion in 2017, Canaan Creative, one of Bitmain's biggest competitors in the industry, completed the same period with a profit of $ 1 billion.
Fundstrat and his proprietor Tom Lee have always been positive about Bitcoin and seem to be getting closer. In a statement he made earlier, Lee noted that among young investors Bitcoin could almost be valued as gold and that Bitcoin could be positioned as a new value store in the eyes of young people.
By the way, Fundstrat's Bitcoin estimate for the end of the year is $ 25,000. The firm also predicts that the price of Bitcoin can rise to as high as $ 91,000 in early 2020s.