Bitcoin Forum

This will hurt the bulls who are expecting that Tom Lee's prediction of $25,000 by the end of 2018 will still occur, because he has moved the goal post to the end of 2019 hehehe.

In any case, this is sad news.

https://cap.stanford.edu/profiles/viewImage?profileId=42372&type=square&ts=1509553429168

“I think there are several factors why cryptos are falling. One, we had a parabolic move at the end of last year, so there is a period of consolidation and price adjustment that is taking place.”

“I also think bigger factors this year have been a lot of government actions that have been taken this year that have scared crypto investors, probably the most notable is the actions taken by the US regulators, like the SEC taking action against ICOs.”

“Lastly, the pace of institutional investor participation in this space has been taking longer than expected, and I think part of that has to do with the slowness of getting some of the onramps established.”

Tom Lee remains bullish about Bitcoin and thinks the cryptocurrency will be worth between $20,000 to $64,000 by the end of 2019.

Read the whole article https://www.whatech.com/cryptocurrency/news/479523-bitcoin-3-reasons-the-crypto-markets-are-in-a-dive-tom-lee

I quite agree with his logic, cryptocurrency is facing tremendous pressure from both the unwillingness of mainstream traditional investors and financial security agencies, which have slowed down the morale at which the parabole (as described by 2017's December price shoot) was intended to change the scope of investment - it did alright, but not in the direction we all expected.

nah, there is nothing sad about that. we knew that the bull market was over when the price reversed from the ATH at $20k and started the correction. and by the time the dumping began to push the price below the real and strong support at $10k we knew that the forced bear market is here to stay and every day that the push became harder we became more sure of it. and that has been 5 months ago! even of the rally began today it would take at least another 6 months to reach the previous ATH let alone set a new one.

I'd consider his revision as good news instead of bad news. It means we will have less people coming in with most probably false expectations. While I can't say for certain what will happen I have to agree with Pooya that any recovery would take at least 6 months. More likely 1 or more years. For that reason his prediction of 2019 is much more likely.

64000 more them 1 trillion market cap. I think we will hit 1 trillion market cap on total cryptocurrencies when Bitcoin hit 20k again. Probably some big projects will fail Big, but still, I do not see Bitcoin with more them 50% in the next bull run.

I think he is right but IMO it is too early for bitcoin to reach the speculated price by the end of 2019. It might take a longer time than that(maybe by the end of 2020 or on 2021).
At least that parabole caught the attention of many people, bringing bitcoin closer to mainstream adoption. Because of the 2017 price shoot, some countries legalized the use of Bitcoin and for this reason, I think it still changed the scope of investment in the direction we all expected.

It's just the same bla bla as always. Nothing changes the fact that they don't know more than we do regarding what's going on. Common sense does the job.

Governments aren't pushing that hard when it comes to regulating this market, and what has the SEC done to ICO's that it scares off investors? Investors aren't really investors but just gamblers not caring about anything. Regulations can't stop them from buying the next potential Ethereum.

Regarding institutions, how can we expect them to instantly pull out their big guns? If they enter, it will first happen through financial instruments which we are lacking currently. Futures are okay but they don't offer long term exposure and it's more gambling. I'm fairly sure that an ETF backed with the underlying asset will be the first major sign that institutions are entering.

The most important factor for institutions is regulative clarity and custody. Both are lacking and both need to be worked on.

This is just another typical bullish dude who later realizes that such goals are clearly unattainable right now due to the present market conditions and moves his predictions to a more unsure date. Let's face it, no matter how hard we want the market to go crazy again, it isn't gonna happen. As he stated, there was a parabolic move that took crypto to uncharted heights, and afterwards, a blow-off happened that left us with the current prices which still is unstable. Also, I wouldn't blame regulations for adding fire to the flame. If anything it increases consumer's confidence on the asset knowing that they are somehow protected by their 'constitutional rights' upon buying the coin. It's just the market adjusting and consolidating, at least on the way I see it.

I have heard many reviews in the past year that everyone believes in bitcoin and will keep their coins for a long time. What happened? It's only been six months and a lot of people have gone into panic. This is a signal to me that there are many random people in the bitcoin community who are focused on making quick profits. I do not see anything terrible and still think that bitcoin is the best that I have.

Government regulations really affects adoption. I also minimizes my usage of bitcoin personally because I don't know if in the near future my favorite exchange files me taxes I can't afford to pay.

Really huge pressure and I simply do not expect the institutional investors to get into action at this point in time, when there is absolutely the chance of the market going way lower than this and with that, it is obvious that we may have to keep experiencing the outcome of the rapid increase of last year.

I still believe they are lurking around the corner anyway and this will even give time for development and maybe the next movement when the institutions are in the market, and bitcoin gets set for mainstream adoption, we may then see a real demand for it.

The pressure does bounce on him for predicting numbers and dates on a market that is totally unpredictable.. I will always look for a positive attitude,, but only with Satoshi’s that I make a gamble for any statement comes from him.. Not from any other person who were maybe popular in cryptocurrency,, but not a fortune teller..

A one year move isn’t a good signs,, that’s 300+++ more days of speculative opinion from him..

I’m positive that increases happens in those years,, I do.. I’m not just good about numbers game..

Thanks for sharing and I don't think its a sad news but for me it is a good news to add to list of good news for Bitcoin. His forecast about the price of Bitcoin is even higher to those who speculated on how much Bitcoin will be worth by end of 2018 and 2019. I see it a positive news that might give a good signal to those who still have doubts with Cryptocurrency.

May I just convey my utter devastation that a random prediction plucked from the anus of some person who lives in the world has been changed by the very same some person after that person delved into his anus once more.

My world has been fookin' shattered into a trillion pieces. Can I go on? I just don't see it happening. My personal bet is a return above the ATH in 2020.


And OP, you constantly claim to be neutral yet add 'hee hee' to every single bit of doom you post. This makes me somewhat less convinced but it's so desperately hard to put my finger on why.  

I dont see anything sad here. He just lost his credibility, like McAfee already has.

I hate quotes like the above, since that kind of writing uses big, fancy words that don't mean a hell of a lot and IMO are just used to stop people from thinking about it any further.  You see crap like this in financial journalism all the time when people get asked about things like price declines--and you see it in earnings announcements every quarter.  The language is designed to confuse and obfuscate.

I didn't know this guy had a prediction of $25,000 by the end of 2018.  His explanation ought to be "Well, we just didn't get there".  End of story.  You can't blame anything but the fact that people stopped buying bitcoin like bubbletards in 2018.  Maybe next year.

The real problem we face which is more daunting than the course of the market itself is the fact that we forget too soon that the market has always been immature and has been given side-by-side stance with the traditional capital market and still we expect the stability of the market when there is so much uncertainty about the legibility of most crypto products. Unlike the rigorous processes experienced by the traditional markets and the products they represent which has a more solid-trust foundation - something grossly lacking in the cryptocurrency sphere.

We claim blockchain and decentralisation creates a trustless environment, indeed a system without trust has gotten us this mess. Not that I'm advocating for centralisation of DLTs but the fact of the matter is that crypto with its quirks still needs an ample amount of time to mature to its full height before we can begin to see a fair share of stability.

I mean, this is why you don't make your investment decisions based on what others say, even if they seem to be a knowledgeable public figure. While I do think that bitcoin is going to increase further in the long run, I don't agree with many of the things that these people like Tom Lee and John McAfee say.

Him shifting the goalpost is definitely just further proof for that.

But anyways, $25k by the end of 2018 was absurd from the start. There is virtually no momentum upwards and a strong resistance at $10k, with strong bearish sentiments within the market. Prices probably haven't even bottomed out yet. I doubt that an ATH would even be likely by 2019, which is his new prediction, so take his predictions with a huge grain of salt. But, at least it's not as absurd as McAfee.

All these barking dogs are a plague and don't do anything other than trying to be right for their own benefit. McAfee blatantly denied that he made a $78,000 prediction to happen this year.

He claimed it wasn't him but someone else while there are videos on YouTube providing evidence that it was actually him. No one gives a shit and he will continue doing what he's good at, which is being a clown.

McAfee is really the type of person that at some point can become the next Roger Ver. It all depends on what will make him the most money. Now it's Bitcoin, but I think he's a ticking time bomb.

This is the best explanation of cryptocurrency fall since this year. The government and financial authorities are the major factor why cryptocurrency investment are crown upon by institutional investors

his most likely fate is being shot by his own wife or one of the creepy lunkheads who are constantly hovering around him in photos.

even though he's a maniac i think he'll never be as shrill or deranged or committed as roger ver. if the whole scene runs out of steam he'll go find somewhere else to make some noise.

OP, please go get your eyes checked. That's not Tom Lee, this is :

http://amp.businessinsider.com/images/5a159c9df914c34f018b59d7-1536-768.jpg

Agreed. Tom Lee has no other explanation but to change his prediction and accept that his original forecast might not happen. @pooya78 also said it is not sad news but it is to some investors. Those investors who bought in those high prices of December. They have to wait longer for a new forecast that might not happen hehehe.

@Torque. I am only bringing humor for the readers. The bear market is very frustrating for all of us.

That is much expected anyway and I do not see the possibility happening this year either. Everyone is for sure bullish long term but in the short term, bitcoin is set to go really low which we may start seeing even some drastic reduce pretty soon and we all know after a huge downward trend, it takes time to recover, for the market to play out before we can even start seeing some uptrend and with that, we may be looking forward to long term as the case may be.

i think her prediction are right , market need more time to recover her health

Yawn, Tom Lee. Move all the goalposts as often as you want but Bitcoin bulls, contrary to what you might think, aren't the least affected by this sort of news, just as they wouldn't have budged if McAfee triples down on his predictions. Even if so, how does $20k at the end of 2019 change things for Bitcoin believers? To reach that lowest end of the 20-65 valuation in 11 years is a hell of an achievement (and to recover that old ATH in 2 years is nothing new for Bitcoin, either). The bulls haven't even had 6 months to rest, recover, regroup. Why would they want another run so soon when a year to accumulate is an opportunity that only comes along every few years?

how long it takes to set a new ATH doesn't matter for those of us who are creeping their way into bitcoin slowly but surely. in fact the bear market and the drops have been the best thing that could have happened although nobody likes the drops but we are all receiving more bitcoin for the same amount of money now compared to 6 months ago.

This is uplifting to know. That someone like him believes and still believes in bitcoin's posibilities of price reaching in such hieghts. Given the present condition of the price his stand and statement is helpful for people to rethink of bitcoin even in this struggling time.

It was very funny on how different investors of the market can actually believe immediately about the predictions, china banned all the ico's last year and everyone is saying that it was the end of cryptocurrency but still bitcoins managed to reach $19k dollars before the year ends.

I mean, Tom Lee is a chronic bitcoin bull. No matter what stage we are in, he doesn't really analyse anything at all but instead just spits out his usually bull garbage for publicity's sake, because he knows that everyone will be jumping to cover him.

This is why that I rarely care about what Tom Lee have to say. It's very predictable and they are rarely right - and if they know that they're wrong they'll just move their predictions around.

I still don't think that his new prediction is going to become reality, though. It's still far too bullish from my personal view. It's unlikely that the extent of the recovery will take BTC up to $20k+ even in 2019, which is the year I expect a market wide recovery to happen. Just take a look at how it took 3 years or so for bitcoin to reach back to its former ATH from 2013.