Bitcoin is profitable to buy: analysts expect to rise by 40% in the near future

Bitcoin is profitable to buy: analysts expect to rise by 40% in the near future

Fundstrat increases its forecast for the exchange rate of bitcoin in mid-2018 from $6,000 to $11500. Thus, experts expect the growth of cryptocurrencies is still almost 40% from current levels.

If earlier this month, analyst Fundstrat Tom Lee showed some increased cautious attitude regarding bitcoin, believing that the rally of the currency is far ahead of behind her the fundamentals, but now his fears were dispelled, and it again encourages the customers to buy the cryptocurrency.

As Lee writes, “a few weeks ago we took in a short term neutral stance on bitcoin because its market rate at that time (~$7400) was superior to its real value. Last week, bitcoin fell to $5600, then recovered. In our view, this movement is in the neighborhood of $5600 cleared the market of weak players, and now the reason to be afraid anymore. We recommend you to buy the currency at current levels”. As a result, the strategists raised their forecasts for the exchange rate of bitcoin in mid-2018 from $6,000 to $11500. Thus, experts expect the growth of cryptocurrencies is still almost 40% from current levels.

If follows the bullish forecasts, because they expect active growth in the number of bitcoin accounts and increases in the dollar amounts of transactions performed with each account. So, he points to a customer base of Coinbase, where the number of accounts has exceeded 14 million

The largest banks of wall street can’t stay away from this phenomenal rally. Even JPMorgan Chase, the head of which is known for severe criticism of bitcoin, now intends to offer its clients the ability to trade futures on bitcoin, what Tuesday said the Wall Street Journal.

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