#CryptoCorner; Former OKEx CEO Defers to Huobi, Fundstrat #Crypto Analyst Predicts 25K for #Bitcoin by 2019
#CryptoCorner; Former OKEx CEO Defers to Huobi, Fundstrat #Crypto
Analyst Predicts 25K for #Bitcoin by 2019
Point Roberts, WA, Delta BC – May 21, 2018 - Investorideas.com, a leader in crypto and
blockchain investing news reports on what’s driving the cryptocurrency markets
with today’s edition of Crypto Corner.
Read this in full at http://www.investorideas.com/news/2018/crypto-corner/05211OKExFundstratBitcoin.asp
Former OKEx CEO Defers to Huobi, Fundstrat Crypto Analyst Predicts 25K
for Bitcoin by 2019 but Vanguard Economist Sees ‘Decent Probability that its
Price Goes to Zero’
Chris Lee, who recently resigned as CEO of OKEx, has joined rival crypto exchange Huobi Group. Lee will
be coming on as Board Secretary and VP of Global Business Development according
to a press release from Huobi today. Lee praised his new employer and speculated that they
could one day rival a business like Goldman Sachs.
"I
am a big believer in blockchain technology and view exchanges as the heart of
the industry. Huobi Group has built a strong foundation, from the popularity of
its exchange to the investments the company has made in the global blockchain
ecosystem. The combination of the team's technical expertise with
industry-leading marketing and operational abilities positions it to become the
Goldman Sachs of this new era in finance. If done properly, Huobi may even be
bigger than Goldman one day."
Thomas
Lee, Fundstrat Global Advisors’ head of research, expects Bitcoin to rise to
$25000 USD by the end of 2018, according to a story in Bloomberg.
This is in spite of Lee’s prediction on May 7 that Bitcoin would rally in
response to the Consensus
conference last week. Explaining his prediction about the conference on Friday,
Lee said:
“Given
conferences like Consensus are chances for the community to gather in a
centralized place and meet constituents new to the community (growth in
attendance), it seems natural that the combination of ‘sanity check’ (all is OK
and progress is happening) plus ‘new interest’ (incremental attendance) should
strengthen the crypto-community’s conviction,” he wrote. “And coupled with
growth in incremental constituents, should have aided crypto-currency prices.”
Conversely,
Vanguard’s Chief Economist cast a very different long term prediction for
Bitcoin on a recent ETF.com
op-ed. Davis expressed enthusiasm for blockchain technology in general, but
said Bitcoin itself could crash utterly.
“I’m
enthusiastic about the blockchain technology that makes bitcoin possible. In
fact, Vanguard is using such technology. As for bitcoin the currency? I see a
decent probability that its price goes to zero.”
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