Tom Lee Thinks Market Is Wrong About Bitcoin (BTC)

[PRIBO247]

It appears as though Tom Lee is trying to explain why his
Bitcoin (BTC) predictions haven’t exactly worked out,
considering that there isn’t much time left before 2018 is over
and his predictions have not come to fruition.
For those who might be unaware, Lee had stated confidently that
Bitcoin would hit $25,000 before the end of 2018. The prediction
has proven to be way off, considering that BTC – as of press
time – is valued at a price of $3317 each.

Damage Control
The two catalysts that Lee had previously believed would drive
Bitcoin’s price up was the fact that the Bakkt platform would be
launched, which he believed would lead to increased
institutional money flow into the cryptocurrency markets. He
also believed that the fact that Bitcoin had held the key
“breakeven” point of $6,000 was significant.

However, Bitcoin has since broken the support level at 6,000.
Not too long ago, Lee appeared to understand that he would be
criticized for how off his predictions were, which is why he
slashed his year-end forecast by almost 50%, stating that
although Bitcoin wouldn’t reach $25,000, it would reach
$15,000.

Is The Market Wrong?
Tom Lee is the co-founder and head of research at Fundstrat
Global Advisors and is widely considered a permabull, meaning
that he is always bullish on Bitcoin no matter what. However,
many have pointed out that this hurtful to the markets, as
investors who might invest in the markets begin to view Lee with
less credibility as his predictions often end up being invalid.
In a note circulated to his investors, Lee blamed the price of
Bitcoin on an “overall downtrend” in the global economy, and
stated that the ICO sector is largely to blame for its price, as
well. He is adamant about the fact that the market is not
reflecting Bitcoin’s “fair value” , which he believes to be between
$13,800 and $14,800.

He states: “Fair value is significantly higher than the current
price of Bitcoin. In fact, working backwards, to solve for the
current price of Bitcoin, this implies crypto wallets should fall to
17 million from 50 million currently.”

Source: https://cryptocoinspy.com/

[cowz]

His second prediction was also wrong, he downgraded it to 15,000 but that is way off the mark. This price needs to be downgraded to 10% of that figure and it would be more accurate

[PRIBO247]

His second prediction was also wrong, he downgraded it to 15,000 but that is way off the mark. This price needs to be downgraded to 10% of that figure and it would be more accurate

Lol...that is the problem with all these prediction junkies, they are rarely correct in their predictions.
I don't look to them for information else I will be misled.