The price of Bitcoin is headed to $25,000 in five years according to the Head Research of Fundstrat Global Advisors, Tom Lee and Former Managing Director of JP Morgan Chase. He stated this in an interview with CNBC’s Fast Money Program.
Although Bitcoin has suffered due to a lot of negative news lately such as Jamie Dimon talking Bitcoin down and China banning ICOs, but the potential for Bitcoin to keep rising in price for years to come is still there. Bitcoin has seen drops like this plenty of times and this shouldn’t be too shocking for veteran Bitcoin enthusiasts.
Most people look at Bitcoin as something fragile, a currency in a bubble just waiting to pop. But this simply is not true. Bitcoin is a finite, new type of currency and as more and more start using this currency, it will continue to rise infinitely.
We are still in the very early stages and we have a long way to go before Bitcoin is truly mainstream. Lee stated it is not possible for a fraud transaction to happen with Bitcoin as it costs $30 billion just to create a single Bitcoin.
Bitcoin is absolutely worth investing in and those who miss out on this opportunity will look back and regret it forever. Blockchain technology is the most important invention since the internet.