Bitcoin price should be $14,000 - Tom Lee

[bbc.reporter]

Is Tom Lee's outlook correct? Should bitcoin be priced on $14,000?

Also, observe how, according to the article, that Tom Lee has expressed doubt if $14,000 is attainable for 2019. That might be a delicate signal that bitcoin might attain $14,000 this year hehehehe.



Prominent Bitcoin bull and Fundstrat Founder Tom Lee has mentioned during a CNBC Squawk Box program earlier today that Bitcoin is way below its ideal value. He said Bitcoin is only trading at 40% of its actual price despite the price surge experienced in the last few days.

Many have tried to explain the surge with Bloomberg saying it is due to the April Fool’s joke that the SEC approved Bitwise and VanEck ETF applications. Lee, however, thinks differently:

“Finally, we had a big move on Apr. 1. It wasn’t clear what caused it, but it was a shred of real evidence that there is a lot of dry powder, The crypto community kept a lot of cash and was waiting for Bitcoin to break $3,000.”

Although he believes $14,000 is the right price for Bitcoin right now, Lee expressed doubt that the price is attainable by the end of 2019. The bull run is still early and so is the year, and from every indication, the surge is still brewing with a potential to amass more gains in the next few weeks. Hopefully, Tom Lee’s “ideal” price will become a reality eventually.

Read in full https://zycrypto.com/bitcoin-bull-tom-lee-says-bitcoin-should-be-valued-at-14000/

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[Questat]

The market has not downgraded, what we achieved in the past is possible in the current situation.

I'm sure we all witness how the price of bitcoin move recently, and now it's trading at more or less $5,000 and that's very close if this uptrend
movement will continue.

The last time we achieve the ATH, we don't need 6 months to do it, now we have more than enough time to make it.
It is very doable, I believe in Bitcoin's power.

[WinslowIII]

Tom Lee has lost all credibility, why in fuck quote him going forward?

[LimLims]

I am agree with you.
Who doesn't like Free money seriously. And ofc if your assets become more valuable then surely it is like a ceremony for you.
We all still remember the time when bitcoin hit 20k usd. The craze was unbelievable.
But sadly the price is down compared to that time although it's increasing now.
Lets hope for the best for the Bitcoin. We want to see Bitcoin again in 20k usd + more price.
Hope What Tom Lee said would take place soon.

[gilangIDR]

Every time there will always be speculation and that is a natural thing, the price movements in the crypto world are very difficult to predict and that is why the price of Bitcoin will never be predictable. We are just wondering and hope that prices can be in a much better range.

[traderethereum]

Maybe he is right, or maybe he is wrong, but the truth is, bitcoin can go to anywhere even reaching the very highest price that we can imagine now. Yeah, I still hope that the price could reach like what he said although we cannot know when it's happening, I still believe in bitcoin until now. It will increase, it will reach the highest price, it will invite more people to come, it will make people shocked with what they see later, just hold your bitcoin and see the magic comes

[Siren]

Tom Lee has lost all credibility, why in fuck quote him going forward?

Indeed mate,thats why who will trust that false.prophet,? This will only leads to.failure investment, stop sharing that mans false prediction because for how many times he was a failure and never bring rightful words for us to profit.never will trust that man instead i will trust my instinct

[Lucius]

Personally I think Tom Lee has at least one big problem, and it is one type of addiction, known as a dependence on permanent media exposure. By everything he was saying over the years, it is pretty clear that his percentage of true predictions is fairly low. It does not prevent him from continuing to do what he does best, tell a children stories.

Do you know why Tom Lee thinks the current price should be 14 000$? The answer is pretty simple and is in the article : "Lee has always argued that the number of wallets on the Bitcoin network is enough to take it much higher than it has been"

If someone thinks the number of wallets should have any impact on the price, then it's pretty clear how this man is thinking.

[passwordnow]

He has come up again with this fair price of bitcoin.

Do you know why Tom Lee thinks the current price should be 14 000$? The answer is pretty simple and is in the article : "Lee has always argued that the number of wallets on the Bitcoin network is enough to take it much higher than it has been"

If someone thinks the number of wallets should have any impact on the price, then it's pretty clear how this man is thinking.

Okay, I get it now so this has been his reference on why he thinks that bitcoin will go that way. Actually, bitcoin is bound to reach and pass $14,000 but we can't tell when it will happen. But with this basis through the number of wallets, price will affect it. Did he ever think of it on how many wallets are empty?

[Slow death]

Tom Lee has lost all credibility, why in fuck quote him going forward?

It seems to me that Tom Lee is with a lot of losses and little faith that the price increases. I'm feeling sorry for him. he who has always been very optimistic now has decided to make enigmatic predictions. This market can be very cruel to people

Is Tom Lee's outlook correct? Should bitcoin be priced on $14,000?

as you said, if he expressed doubts, then finally the price could reach the $14000 still this year

[NeuroticFish]

Should bitcoin be priced on $14,000?

I feel like Bitcoin should be at least 8700$. But I am not famous.
And, unlike others, I am not desperate. I expect Bitcoin will have new highs, maybe even a new bubble, sooner or later. And I'll wait for it patiently.
I may get a bit closer to despair if the price goes near (or under) the 3000 levels, but that's another story. I hope that the bottom for 2018-2019 crypto winter was touched and we don't go back there.

[Adriano2010]

I think bitcoin real price at this time should be 10,000$ or close to it, but maybe Tom Lee has right. But even now the price is ok for people who buy at 4000$ or lower, and is a good sign that the price grow a little, and possible until the end of month to reach 7000 $.

[talkbitcoin]

i think Tom Lee is starting to get unusually excited about bitcoin again so he is predicting these unrealistic prices just like he did last year.
i personally think bitcoin has been very under appreciated for the past 7-8 months and its current value should be a lot higher than $4k but even i don't think we are ready for $14k price yet.

[The Sceptical Chymist]

It never fails.  As soon as bitcoin (or stocks, or metals, or comic books) starts taking off, everyone comes out of the woodwork with wild predictions that we're headed to price levels 3x (or more) higher than we're at now.  This confirms my suspicion that the people who make these predictions are driven purely by emotion and not anything rational.  

There weren't any signs that bitcoin was even going to pop up to $5000 in the past week that I saw.  I didn't see anybody making that call, at least not on bitcointalk, and there's also no real reason it did so.  I don't see any reasonable explanation that it should be headed toward $14k other than that's where someone thinks it should be.  Man, I hate this section.

i think Tom Lee is starting to get unusually excited about bitcoin again so he is predicting these unrealistic prices just like he did last year.

I don't even know who Tom Lee is aside from the actor TLJ whose picture gets posted in threads like this.  Drives me nuts.

[DeathAngel]

Tom Lee changes his opinion more often than a hooker changes underwear. I don’t think anything he says holds any weight these days, he’s become a bit of a joke in the industry.

[figmentofmyass]

Is Tom Lee's outlook correct? Should bitcoin be priced on $14,000?

nope, i think his views about fundamental pricing are wrong. the network metrics he uses don't accurately gauge supply and demand; they're arbitrary, which is why price never meets his expectations.

the only "correct" price is the actual market price, right now. even if tom lee's approach were rational, the saying that "markets can stay irrational longer than you can stay solvent" is a truism. that's why TA is essential (not just FA) if you want to trade markets.

tom is just gonna keep saying "up up UP" and eventually he'll be right.

[dothebeats]

And with this, he effectively jinxed the possibility of us going over $5000...

Well anyway, Tom Lee has always been a bitcoin bull, and as much as I love his enthusiasm on what he's doing, he simply don't have credibility anymore and his predictions were always wary and literally off the charts. I don't see a clear and definite reason for us to break more than $10000, or even land that range yet by just one bullish movement. The market simply isn't ready for higher targets and we have seen that when we have tried to test $5400 and went back down to $5000.

[Idrisu]

I think this man is one of the greatest bitcoin enthusiast!  He hardly said any nagetive thinks against bitcoin and I do like his spirit.  Bitcoin ought to have remained above $10,000 base on how great this coin is. I do believe that before end of this year it will perform far better than were it is today.

[BUK2016]

Everyone is entitled to his or her opinion about Bitcoin market speculation and there shouldn't be any preferential treatment or consideration given to any speculator. This is because, this same Man prediction most time turn out to be the other way of his prediction.

[sandra_x]

Bitcoin should be worth more, we have seen bitcoin at 22000 USD ,that was when we had less infrastructure supporting it,now things are much better so we should have it better in price also. We could climb higher than our previous highs this year. Bitcoin halving is next year