[BREAKING NEWS]: Wall Street Predicting Bitcoin To Hit $55,000 In 5 Years

[Herbert2020]

Straight of the printing press the paper is still hot and the ink wet as we deliver this story to you this evening.

Top Wall Street strategists see bitcoin 'cannibalizing' gold, worth as much as $55,000.

http://www.cnbc.com/2017/07/07/strategist-tom-lee-weighs-sees-bitcoin-going-as-high-as-55000.html

Updates if we can be bothered to post them...

Just one question what is the author of this article high on weed, meth etc? This days people just want to get high and enjoy the popularity of Bitcoins. I think this is the quite high exaggeration at its best. I will be happy if it goes but then I feel it's highly doubtfull I think he may be written 5500 and added one zero by mistake that's what I can infer so far, let's see what others have to say.

whenever price of bitcoin goes up everyone starts to bring out their big guns of speculation and call a different high number. some of them have some good points and some are just throwing numbers. haven't decided which one this is.
but it is not a big thing really to doubt. bitcoin does have the potential of going that high. there is still the same limited number of coins available and the max amount has not changed
and demand is still rising for this limited supply.

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[13abyknight]

To be honest, I'm not even surprised to see that number being only $55k. Its clear that more and more companies and establishments are beginning to accept Bitcoin and this is a step in the right direction for the skyrocketing prices in the coming years.

[HabBear]

Dollar is already dead because of the pensions.

What? The dollar isn't dead due to pensions. Pensioners retirements are dead. How is the dollar impacted directly by the states not siphoning off enough money to fund their liabilities?


Let's consider if this is a credible projection.

First, it comes from a strategist at a firm called Fundstrat. Anyone heard of Fundstrat on Wall St.? Me neither. Ok, so the firm is new (at best). 

Second, the strategist is named Tom Lee and has a well credentialed background on Wall St. He's also the lead guy at Fundstrate. Ok, a seemingly credible mind standing by this projection.

Third, the model. We get some glimpses in to his thinking. He's comparing the value to gold, claiming that gold production is increasing while (obviously) bitcoin production is decreasing. This will make bitcoin more scarce. He also cites bitcoins security features as advantageous for storing wealth. Serving as a better option to gold is the primary driver. They don't offer any hint at the math that gets them to the number but do divulge that their prediction range is $12,000 - $55,000...that's a HUGE range. Anyone here think it's impossible for Bitcoin to hit $12,000 in 5 years? Me neither.

Fourth, since Lee has taken incredibly bearish positions and points of view on the US stock market earlier this year he does need to have an answer to "so where should I put my money?" Bitcoin offers a good answer...and his prediction get's him good press coverage.

Finally, it's exciting to see Wall St. take notice to Bitcoin. Let's hope the attention continues to be positive.

[Pursuer]

Wow that's a great new? o prediction. hopefully it will happen.. How about this year no prediction on what will happen on August 1?

Segwit integration.? More than 80% of the support is for segwit so fees will get down and transactions will be faster after August 1.
I think 20-55k is little odd term but I do believe that Bitcoin will grow and as the countries adapting it the value will definitely rise.

it won't happen overnight. there will be some slow growth at first then more adoption, then there will be more rise and with the problems and debated solved the price will start rising faster. so for anything above 10K you should expect at least a couple of years of rise.

[Doms]

That prediction might be too much too soon, and as much as I want the price to reach that level, that seems to me to be a very bold prediction. Gold took a while to reach its market value of 7 trillion dollars, and bitcoin might take a while to even make $500 billion. But it's worth finding out as the years lead us closer to that estimate.

[stevebc]

Dollar is already dead because of the pensions.

What? The dollar isn't dead due to pensions. Pensioners retirements are dead. How is the dollar impacted directly by the states not siphoning off enough money to fund their liabilities?


Let's consider if this is a credible projection.

First, it comes from a strategist at a firm called Fundstrat. Anyone heard of Fundstrat on Wall St.? Me neither. Ok, so the firm is new (at best). 

Second, the strategist is named Tom Lee and has a well credentialed background on Wall St. He's also the lead guy at Fundstrate. Ok, a seemingly credible mind standing by this projection.

Third, the model. We get some glimpses in to his thinking. He's comparing the value to gold, claiming that gold production is increasing while (obviously) bitcoin production is decreasing. This will make bitcoin more scarce. He also cites bitcoins security features as advantageous for storing wealth. Serving as a better option to gold is the primary driver. They don't offer any hint at the math that gets them to the number but do divulge that their prediction range is $12,000 - $55,000...that's a HUGE range. Anyone here think it's impossible for Bitcoin to hit $12,000 in 5 years? Me neither.

Fourth, since Lee has taken incredibly bearish positions and points of view on the US stock market earlier this year he does need to have an answer to "so where should I put my money?" Bitcoin offers a good answer...and his prediction get's him good press coverage.

Finally, it's exciting to see Wall St. take notice to Bitcoin. Let's hope the attention continues to be positive.

Excellent analysis of the article.  It's enjoyable to see there kinds of predictions from creditable folks, but this guy is a bit of a contrarian (I am too I'll admit) so may not make as much impact - contrarian investors tend to get scoffed at a bit.

[dimastegar]

$55000 ? It was a fantastic price. I hope it will happen. Although still far from expectations.

[Wind_FURY]

I will believe them if the financial institutions of Wall Street pump Bitcoin to that level themselves. But if they are just saying that just to get some attention, I say do not listen. People from Wall Street are bigger scammers than the people from the world of crypto.

[Meuh6879]

I remember reading several years ago.

Indeed ...

[stompix]

Yeah... trust this guy.

http://www.davemanuel.com/2008/08/07/jpmorgan-chase-cos-thomas-lee-stocks-will-rise-much-higher-by-end-of-2008/

PMorgan Chase & Co's Thomas Lee: Stocks Will Rise "Much Higher" by End of 2008

Thomas Lee, the chief equity strategist at JP Morgan Chase & Co., has gone on record twice in the past couple of months, saying that he believes that the S&P 500 will trade "much higher" by the end of 2008. How high? Lee is sticking to a target of 1,450 for the S&P 500, which would be about a 13% gain from today's levels.

Do you remember how this ended?

https://www.bloomberg.com/news/articles/2017-01-06/wall-street-s-most-outspoken-stock-bull-reverses-now-top-bear

It was Lee’s bullishness that made him the least accurate strategist on Wall Street in 2015, when the S&P 500 slid 0.7 percent

[betMaster]

This is good news! i might consider invest more money in bitcoin and hopefully he reach higher value!!

[joncoinsnow]

Yeah... trust this guy.

http://www.davemanuel.com/2008/08/07/jpmorgan-chase-cos-thomas-lee-stocks-will-rise-much-higher-by-end-of-2008/

PMorgan Chase & Co's Thomas Lee: Stocks Will Rise "Much Higher" by End of 2008

Thomas Lee, the chief equity strategist at JP Morgan Chase & Co., has gone on record twice in the past couple of months, saying that he believes that the S&P 500 will trade "much higher" by the end of 2008. How high? Lee is sticking to a target of 1,450 for the S&P 500, which would be about a 13% gain from today's levels.

Do you remember how this ended?

https://www.bloomberg.com/news/articles/2017-01-06/wall-street-s-most-outspoken-stock-bull-reverses-now-top-bear

It was Lee’s bullishness that made him the least accurate strategist on Wall Street in 2015, when the S&P 500 slid 0.7 percent

wow thanks for that's source. Its really a good news if it will happen. I will read more about thomas lee.

[iluvpie60]

Straight of the printing press the paper is still hot and the ink wet as we deliver this story to you this evening.

Top Wall Street strategists see bitcoin 'cannibalizing' gold, worth as much as $55,000.

http://www.cnbc.com/2017/07/07/strategist-tom-lee-weighs-sees-bitcoin-going-as-high-as-55000.html

Updates if we can be bothered to post them...

it should go even higher than 55,000 honestly. The more and more other countries are getting into it the more the price will go up.

We are seeing unprecedented growth in countries making it legal or accepting it to be used in their hedgefunds and portfolios for banks.

[rube08]

Bitcoin will go probably a million a coin once every country adopts it as a payment method.

[iram1011]

It might be hard to believe for our bitcoin community as the price is ridiculously high. But the thing is bitcoin community and market cap is very less right now. Bitcoin community being a size of 5 million or less (less than 0.1% of world population). There is huge market available outside. With countries making bitcoin legal and many retailers and merchants accepting bitcoin. Bitcoin will become worldwide phenomenon. Users may rise exponentially. Price will rise with the same pace. $55,000 is possible.

[Renji Abarai]

I will believe them if the financial institutions of Wall Street pump Bitcoin to that level themselves. But if they are just saying that just to get some attention, I say do not listen. People from Wall Street are bigger scammers than the people from the world of crypto.

Yeah right. They keep on speculating so that more investors will hold  bitcoin and in doing so, after several years of holding they are correct. Many investors and financial group already predicted the same, maybe they have a bigger holdings.  

[Sarah08]

Straight of the printing press the paper is still hot and the ink wet as we deliver this story to you this evening.

Top Wall Street strategists see bitcoin 'cannibalizing' gold, worth as much as $55,000.

http://www.cnbc.com/2017/07/07/strategist-tom-lee-weighs-sees-bitcoin-going-as-high-as-55000.html

Updates if we can be bothered to post them...

That was really a great thing if that happened but i guess predicting is not a sure thing as we all know and we dont really know what gonna happened after 2-5years in the price of bitcoin it could also get lower and could increase also at at a time but news are not a good source.

[pooya87]

whenever i see a new like this, it just makes me mad. because i remember all these years that when price was still low and nobody though it can go even above $1000 i was saying 10K is big but possible. but now that it has gone above everyone's expectations then all those naysayers are now saying yes to 55K! and i am still saying the same thing. 55K is big, hard but possible.

[cpfreeplz]

That mean they're finally investing some money into bitcoins and want to make sure everyone else buys up too so they can profit quicker. I would do the same if I had the same reach. Why be all doom and gloom with your own investment? That would be stupid.

[Yakamoto]

Straight of the printing press the paper is still hot and the ink wet as we deliver this story to you this evening.

Top Wall Street strategists see bitcoin 'cannibalizing' gold, worth as much as $55,000.

http://www.cnbc.com/2017/07/07/strategist-tom-lee-weighs-sees-bitcoin-going-as-high-as-55000.html

Updates if we can be bothered to post them...

Well hell now I'm just going to sit with everything I have and keep on hodling, probably not even worth trying to play the market at this point and it would be more effective to just sit on what I have and not worry about what's happening with the market while waiting for the trends to continue.

I am normally very skeptical of predictions that try to say something like this as a high likelihood, but the trends are proving me wrong and I think there are going to be a lot more favorable pieces being published as more people begin to talk about it. Considering this is an article from yesterday/the past two days, it isn't something based on old data, like I see a lot of other pieces of information being posted on here seem to be.