‘Bitcoin’s No Longer Boring,’ Price Heading Towards $1.5K, Say Bloomberg Analysts

Analysts at Bloomberg Intelligence predict that Bitcoin (BTC) “has further to fall,” Bloomberg reported Nov. 16. “Bitcoin’s no longer boring” declares Bloomberg, before stating that analysts predict the price could fall as low as the $1,500 point, a further 70 percent drop in the coin’s price. Bloomberg cites hedge fund founder Travis Kling saying that he “didn’t sleep well” because of the potential turmoil in wider crypto markets due to the recent Bitcoin Cash hard fork: “There’s a small chance that, it’s difficult to estimate, that something really bad could…

Fundstrat’s Tom Lee Predicts Bitcoin Recovery, But Lowers End-Year Target to $15K

Wall Street analyst and cryptocurrency bull Tom Lee has nearly cut his end-year Bitcoin (BTC) price target in half from $25,000 to $15,000, CNBC reported Nov. 16. According to Lee – the co-founder of market advisory firm Fundstrat Global Advisors – the key factor behind his new target is Bitcoin’s “break-even point,” or the level at which the cost to mine Bitcoin matches its trading price, as CNBC reports. According to Fundstrat’s data, this point is at around $7,000. Bitcoin is currently trading well below this value – $5,550 at…