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Wall Street Analyst: Bitcoin Targeting $10K This Year – BTC, XRP, Ethereum, Litecoin Forecast

April 14, 2019

After taking an extended break from forecasting, Fundstrat co-founder and head of research Tom Lee is back with a new Bitcoin prediction.

Lee told MarketWatch that investors’ appetite for Bitcoin has returned, and if a couple things fall into place, BTC could hit $10K by the end of the year.

“Risk appetite is positive for Bitcoin. If the S&P 500 made a 2.5 standard deviation move [as it has done year-to-date] and investors are looking for volatility, that’s building a base case for Bitcoin.”

Currently Bitcoin is up 38% year-to-date, topping $5,000 from $3,700 in January, outperforming the Nasdaq 100 and the S&P 500.

2019 Returns…

Oil $USO: +38%

Bitcoin $BTC: +35%

Nasdaq 100 $QQQ: +21%

REITs $VNQ: +19%

MLPs $AMLP: +18%

Small Caps $IWM: +18%

S&P 500 $SPY: +17%

EM $EEM: +14%

EAFE $EFA: +13%

Commodities $DBC: +13%

High Yield $HYG: +9%

Investment Grade $LQD: +6%

Bonds $AGG: +2%

Gold $GLD: +0.5%

— Charlie Bilello (@charliebilello) April 13, 2019

Early last year, Lee predicted BTC would return to $20,000 by the end of 2018, a number he later adjusted to $15,000.

Right now, the crypto markets are mixed. Bitcoin is down 0.13% at $5,078. Ethereum is up 0.51% at $163.87, and XRP is down 0.35% at $0.3255.

Technical analysts are watching for a potential downside push below $5,000 for Bitcoin, and identifying support levels for Ethereum, XRP and Litecoin.

Bitcoin

Ethereum

XRP

Litecoin

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.