The opinions in this article come from Tom Lee. Originally compiled by Cobo Research Institute and does not represent the views of Cobo
There have been endless price predictions for Bitcoin, among which Wall Street analyst Tom Lees predictions are always hotly debated. Last year, Tom Lee predicted that Bitcoin would rise to 10 million US dollars in the future. This may sound a bit far away, but Tom Lee said that his analysis is more long-term than the trend within one or two years.
In the following article, Tom Lee cuts in from a demographic perspective and believes that the biggest catalyst behind the surge in Bitcoin is the millennial generation, which may be you who are reading this article.
Millennials refer to young people born in the period from 1981 to 2000. They are a generation who grew up in the digital age. They like to play video games such as Super Mario, World of Warcraft, and League of Legends, and are keen to use mobile payments. Digital currency is enthusiastic and open.
Tom Lee: Blockchain is a millennial story
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What were you playing when you were 20?
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Correlation between housing starts and population aged 25-45
Lets look at investing and saving again. Today, people between the ages of 35 and 60 invest roughly $1 trillion in cash each year, an age group that is now dominated by Baby Boomers and Generation X, though Millennials are on the rise .
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Correlation between Gold Price and Year of Birth
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Correlation between SP 500 and Birth Years
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Hedge Funds and Birth Year Correlation
Next is my take on the Millennials, who will soon have $1 trillion in savings. Bitcoin’s upward curve in 2016 coincided with the peak savings of “millennials”.
Today, every billion U.S. dollars of cash flowing into the digital currency field will bring about an appreciation of about 25 billion U.S. dollars. If the millennials put 10% of their savings into the digital currency market, this market will increase by 2.5 trillion U.S. dollars every year, and the final market value will reach 500 trillion U.S. dollars, so we predict that the price of Bitcoin in the future may reach 10 million dollars.
In addition to Tom Lee, there are constant voices in the market to be bullish on Bitcoin. Some financial analysts predict that the price of Bitcoin will have a 2000 times appreciation space. However, Bitcoin is an investment with high risk and high return rate. Everyone must have their own judgment before making a decision. This article only provides an analysis of ideas and does not constitute investment advice.
