The bitcoin rate could rise to $ 36,000 or even $ 64,000 by the end of 2019, said Fundstrat Global Advisors analyst.
In his opinion, the cost ratio of bitcoin to the cost of miners (P / BE) is a “reliable long-term support level”, and current and future developments in this area “will be a fundamental factor for the growth of bitcoin on the segment until the end of 2019”.
“We expect that the mining economy will grow in the next few years, and the predicted price of bitcoin at the end of 2019 is at the level of $ 36,000. This conclusion allows us to make the historical multiplier P / BE 1,8x,” writes Fundstrat strategist Sam Doctor.
The analyst adds that while $ 36,000 is the most likely target for bitcoin for the specified period, it can also be in the range of $ 20,000 to $ 64,000, depending on the events in the next 18 months.
Thus, even with respect to the modest forecast of the analyst, the bitcoin rate should rise by more than 100% or almost 600% relative to the upper limit.
The Doctor’s forecast is consistent with the assumption of another analyst of Fundstrat Tom Lee, who expects that by the end of 2018 the price of bitcoin will reach $ 25,000.
Recently, Lee published the results of a survey of institutional investors, 82% of whom believe that bitcoin has already reached its current minimum.
