There are many influential figures within the cryptocurrency and financial sector that have given Bitcoin price predictions, some with more success than others. Tim Draper, one of the most influential investors in Silicon Valley, famously predicted that Bitcoin would hit $10,000 within three years successfully back in 2014. Tom Lee, managing partner and head of research at Fundstrat Global Advisors, is unusually bullish, maintaining his price prediction that Bitcoin will hit $15,000 before the end of the year.
Lee has adjusted his price prediction from earlier this year when he stated that Bitcoin would hit $25,000 before the end of the year. He had stated that there were two main catalysts that would help drive the price to this point. The first catalyst was that the key support level of $6,000 had been maintained – which was significant because it was a “breakeven” point for Bitcoin miners. The second catalyst was that the launch of Bakkt, which was scheduled in December, would lead to a flow of institutional money into the cryptocurrency markets.
Unfortunately, the Bakkt launch was officially delayed to 2019, which caused Lee to adjust his price prediction by a significant $10,000. He appears to be much more optimistic than his peers, considering that Bitcoin would have to grow in price by over 200% to meet this particular prediction. As of press time, the price of Bitcoin was a little over $4,173, according to Coinmarketcap.