The value of Bitcoin may now be compared with that of gold as it’s likely to be heading $25,000 in five years according to Tom Lee, Head Research of Fundstrat Global Advisors and Former Managing Director of JP Morgan Chase.
He said it in his recent interview with CNBC’s Fast Money program.
Although Bitcoin has suffered from recent negative news from countries like China such as banning of ICOs and planning to shut down the Bitcoin exchanges by the end of the month, Lee thinks there are still advantages to the situation.
According to Lee, there are two factors in the issue - liquidity effect and perspective of the people. According to him, Chinese exchanges operate with 30 percent of Bitcoin value. If they decide to shut down the digital currency, obviously there is gonna be force selling.
Full story at http://bit.ly/2wzmV9I
Source: CoinTelegraph
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