Calls for a much higher Bitcoin price have been less frequent this year. While it was easy to find Bitcoin bulls last year, 2018 has been hard on crypto optimists with a short-term time horizon. Fundstrat Global Advisors’ Thomas Lee is still calling for much higher Bitcoin prices and thinks its “fair value” is somewhere around $13,800 and $14,800 USD.
According to Thomas Lee, the number of active Bitcoin wallet addresses mean that the current Bitcoin prices are far too low. He also thinks that there are macroeconomic factors that are keeping the Bitcoin price low, including a hangover from last years speculative fever, and treasury sales during initial coin offerings (ICOs).