The co-founder of Fundstrat Ton Lee has predicted that Bitcoin (BTC) prices would soon reach $20,000 mark by the second quarter of the year and about $25,000 by the closure of the year, 2018. Lee also forecasted that about three publicly traded corporations would commence issuing their own invented virtual currencies before the year ends according to reports from CNBC.
Despite the drop in the sales volumes of the BTC in December 2017 to about 53% Lee affirms that the prices will surge again this year. It’s not the first time Lee is hopeful about the crypto industry, in January this year, Lee stated the BTC prices performance will double this year according to CoinMarketCap.
Lee has also emphasized that at least three global corporations would embrace the use of digital currencies, a move that would encourage the rapid growth of the industry as other firms learn the essence of transforming their systems to integrate the new technologies by moving towards the cryptocurrencies. According to Lee’s report, global firms such as Facebook, Amazon, and Starbucks are set to implement the blockchain technology this year.
According to Fundstrat, the cryptocurrency market has experienced major transformation with major digital coins being split to form other tokens. Currently, there are countable digital coins trailing behind the BTC and more tokens are set to split or fork this year. For instance, the Bitcoin had two forks last year that added to about 15% of its value. Also, the recent Litecoin split boosted its value by a third.
Japan is also planning to launch a crypto exchange and in-app trading space to boost the crypto trading in its region. August last year, Lee predicted that BTC price would hit %6,000 before the end of the year and the mark was surpassed by almost 230% by December when the Bitcoin prices surged up to $20,000. Lee is a major Wall Street strategist that issues predictions about the cryptocurrency space.