According to the latest research from Fundstrat Global Advisors, the price of bitcoin will reach $36,000 by the end of 2019.
An analysis of the relationship between bitcoin mining costs and its price, conducted by Sam Doctor, an analyst at Fundstrat, showed that the price will be in the range between 20,000 and 64,000 US dollars by 2019. The Bitcoin to Miner Expense (P/BE) ratio is, according to Doctor, a “long-term reliable support level.”
“We expect the mining economy to grow over the next few years and the projected BTC price to reach 36,000 US dollars by the end of 2019. This conclusion can be made based on an average statistical indicator of 1.8 x P/BE,” according to a report by Sam Doctor, tweeted by Tom Lee, one of the founders of Fundstrat.
This price is broadly in line with Tom Lee’s initial forecast that bitcoin will be worth $25,000 by the end of 2018.
Tom Lee and Fundstrat are set to increase prices, however, 82% of institutional investors who participated in the A study conducted in April of this year believes that the price will not rise that high, but will be between 10,000 and 20,000 US dollars by the end of this year.
According to https://cointelegraph.com
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