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Tom Lee, a financial analyst and co-founder of Fundstrat Global Advisors, lowered his previous predictions regarding the price of bitcoin (Bitcoin), but still thinks that the crypto rate can rise to $15,000 per coin before the end of the year. He made this statement in an interview with CNBC.

In May, when Bitcoin cost more than $8,000, Tom Lee predicted that its price would rise to $25,000 by the end of the year, but in July he revised his forecast, calling the figure at $22,000. He based his forecast on the fact that the cryptocurrency fair price should be 2.5 times higher than the cost of its production, having estimated this figure at $9,000 by the end of 2018.

He adheres to a similar position now, speaking of the need to build on the self-sufficiency point – the level at which the cost of mining bitcoin meets its trading rate. According to Fundstrat, for Bitmain S9 Antminer devices, this level has now dropped to $7,000. At the same time, Lee also lowered the ratio between the price and the cost of bitcoin mining to 2.2.

Based on this, the analyst predicts the rate of $15,000. The current overall negative trend in the markets, which culminated in a sharp decline of the bitcoin price earlier this week, doesn’t bother him either.

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