Dubious Bitcoin Price Predictions; Thomas Lee Claims Bitcoin's Value is at Least $13,800

Many market oracles are likely to miss their Bitcoin price predictions for the end of 2018.

Outspoken market soothsayer Thomas Lee said Bitcoin should be trading at nearly four times its current price while going quiet on his long-lasting $25,000 forecast for the end of the year.

Speaking to Bloomberg, the Fundstrat Global Advisors Co-Founder and Head of Research cited a number of indicators he suggested placed Bitcoin's fair value between $13,800-14,800, including the number of active wallet addresses, transactions per account, and "Factors influencing supply".

Lee, perhaps one of Wall Street's most fervent Bitcoin bulls, has traditionally pointed to levels of usership to make price predictions for the number one cryptocurrency by market capitalization.

Since inaccurately forecasting a lofty 70 percent rally during New York's Consensus conference in May, the research analyst has repeatedly reaffirmed that Bitcoin would break its all-time high by the close of 2018, and reach $25,000.

While Lee stated his "Independent research boutique" Fundstrat was "Tired" of making price predictions, the co-founder said the fair value of Bitcoin could reach $150,000 if the number of BTC wallets approached 315 million, or 7% of Visa's 4.5 billion accounts.

Morgan Creek Capital Management CEO Mark Yusko also looks to have quieted down on his April prediction of a $25,000 Bitcoin by the end of the year, instead proclaiming that Bitcoin would "One day" be worth $400,000.

Bitcoin is #JustGettingWarmedUp$25,000 end of 2018.$75,000 end of 2020.$200,000 end of 2022.$500,000 end of 2024 https://t.

I've revised my Bitcoin outlook after spending more time digging through data than I would like to admit.

I've stuck to my $50,000 Bitcoin price target for end of year 2018.