According to financial expert and Co-founder of Fundstrat Global, Thomas Lee, Bitcoin will reach new highs in July 2018. The last record high for Bitcoin was registered in December when its price reached $20,000, since then, Bitcoin can’t fully recover.
Bitcoin New Records
Some weeks ago, Bitcoin was traded under $6,000 dollars, the lowest price in more than three months. The market was involved in an important correction after reaching all time highs during the last December. At the moment, Bitcoin and the most important virtual currencies are struggling to recover from February’s correction.
But apparently, for Thomas Lee, the cryptocurrency market will see new records in the next months. According to him, Bitcoin will reach new all time highs and other currencies will follow its upward trend.
For Mr Lee, Bitcoin takes 85 days to recover after a market correction. That means that in May and June, important things will happen in the cryptocurrency ecosystem. Even when new all time highs may not be reached in May or June, July and August may be good months for Bitcoin.
Furthermore, for Mr Lee, Bitcoin will not be the only cryptocurrency reaching new all time highs. Ethereum has also been declining with the whole crypto market and may reach new records later this year.
Other crypto experts have been giving their opinions about Bitcoin and how much it can grow during this year. Mike Novogratz has commented that Bitcoin may reach $40,000 in 2018. These comments have been made in November, when Bitcoin did not reach its all time high.
Ran Neu Ner, OnChain Capital founder has also given its forecast for Bitcoin during this year. He believes that Bitcoin will reach its last record of $20,000 very fast.
Speaking to CNBC he said:
“If you recall a few months ago we were sitting right here and bitcoin was under $8,000. It shot up to $20,000 in less than two weeks so is nothing new.”
At the moment, Bitcoin is being traded around $10,300 dollars and its recovering part of the dominance lost during the last weeks.