One of the prominent bitcoin (BTC) supporters, a financial analyst and Co-Founder of Fundstrat Global Advisors, Tom Lee, has said in an interview with Bloomberg his team is "tired of people asking" them about target bitcoin price.
"We are tired of people asking us about target prices. Because of the inherent volatility in crypto, we will cease to provide any timeframes for the realization of fair value," Lee said.
Perhaps, will come back to the BTC price forecasting as soon as the market stabilizes.
And the decision is quite reasonable. Previously, at the beginning of 2018, Tom Lee predicted bitcoin would reach $25,000 by the end of the year, and $125,000 by 2022.
"We expect Bitcoin's (Bitcoin) major low to be $9,000, and we would be aggressive buyers around that level," Lee wrote in a report in the very beginning of 2018.
However, later, the head of Fundstrat Advisors lowered his previous predictions regarding the price of bitcoin from $25,000 to $15,000.
At the time of writing, bitcoin is trading at $3.963.55, which is approximate -80% since the high in January 2018.
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