Analyst firm Trefis, working in the stock market, lowered its forecast for the price of Bitcoin from $15 000 to $12 500 by the end of the year.
Analytical Trefis forecast to BTC is based on fundamentals of supply and demand, where demand is the number of users and number of transactions, and the supply is the amount of available BTC. In the analysis it was observed a significant reduction in the total volume of transactions in the block chains, caused by oversupply and subsequent lower prices after the reset on the stock exchanges BTC this spring from the steward Mt.Gox.
“Adjustment of our forecast of transaction volumes resulted in a final cost of BTC at the end of the year of about $12 500 compared to an early indicated a valuation of $15 000,” the analysts said.
Interactive valuation calculator Bitcoin from Trefis reflects the number of registered users BTC, and transaction volumes for each month until the end of 2018.
Analysts pointed out that, although the main cryptocurrency in recent times has achieved some success, it still has dramatically reduced its cost within a month.
Analysts ‘ opinions differ
Recently low capitalization of the stock market was noted in the study of the Dutch government, which showed that low trading volumes, in addition to the minimum interest institutional investors have reduced the interest in the cryptocurrency.
In may, the representative of venture capital, Spencer Bogart, said that the Bitcoin will be traded “at least” above $10,000 by the end of the year, also claiming that the prices of most altcoins is too high and “have a significant headwind”.
At that time, as the total valuation of Bitcoin to the end of the year, according to Trefis analysis, reduced by nearly 17% and is observed in a downtrend recently, Thomas Lee of Fundstrat the company said it still expects that by the end of this year, the value of BTC will reach $25 000.
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