Bitcoin could soar as high as $64,000 next year, investment research firm Fundstrat predicts
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“We believe the current path of hash power growth supports a BTC price of about $36,000 by 2019 year end, with a $20,000-$64,000 range,” Sam Doctor, head of data science research at Fundstrat, said in a report. Hash power refers to the processing power computers need to generate bitcoins.
That’s roughly four times or more from bitcoin’s price Thursday of near $9,300.
The economics of bitcoin mining also likely create a support level for the cryptocurrency, Doctor said.
