Warren Buffett has concerns about Bitcoin and Allianz’s Head of Global Economics & Strategy thinks it could fall to $0. But Tom Lee, Fundstrat Global Advisors’ Head of Research, thinks it could rise to $91,000 by March 2020. Fundstrat and Lee have compiled an impressive database, statistics and graphs on Bitcoin that helps to visualize short-term and long-term trends. They include the cost of mining Bitcoins, hourly, daily and monthly trading trends and technical analysis.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
Because the chart has a logarithmic scale Bitcoin’s price movements don’t look as pronounced as they would be if charted on a linear basis (how most graphs are depicted).
Fundstrat, Bloomberg
Fundstrat's Bitcoin chart
Lee’s report also shows that Fundstrat’s strategy is to focus on more established digital currencies. This matches my thinking that there will be a significant shakeout of the 1,500 plus cryptocurrencies as large corporations and organizations will only put resources into a few of them.