Wall Street Analyst: Bitcoin Targeting $10K This Year – BTC, XRP, Ethereum, Litecoin Forecast

After taking an extended break from forecasting, Fundstrat co-founder and head of research Tom Lee is back with a new Bitcoin prediction.

Lee told MarketWatch that investors’ appetite for Bitcoin has returned, and if a couple things fall into place, BTC could hit $10K by the end of the year.

“Risk appetite is positive for Bitcoin. If the S&P 500 made a 2.5 standard deviation move [as it has done year-to-date] and investors are looking for volatility, that’s building a base case for Bitcoin.”

Currently Bitcoin is up 38% year-to-date, topping $5,000 from $3,700 in January, outperforming the Nasdaq 100 and the S&P 500.

2019 Returns…
Oil $USO: +38%
Bitcoin $BTC: +35%
Nasdaq 100 $QQQ: +21%
REITs $VNQ: +19%
MLPs $AMLP: +18%
Small Caps $IWM: +18%
S&P 500 $SPY: +17%
EM $EEM: +14%
EAFE $EFA: +13%
Commodities $DBC: +13%
High Yield $HYG: +9%
Investment Grade $LQD: +6%
Bonds $AGG: +2%
Gold $GLD: +0.5%

— Charlie Bilello (@charliebilello) April 13, 2019

Early last year, Lee predicted BTC would return to $20,000 by the end of 2018, a number he later adjusted to $15,000.

Right now, the crypto markets are mixed. Bitcoin is down 0.13% at $5,078. Ethereum is up 0.51% at $163.87, and XRP is down 0.35% at $0.3255.

Technical analysts are watching for a potential downside push below $5,000 for Bitcoin, and identifying support levels for Ethereum, XRP and Litecoin.

Bitcoin

NewsBTC – Uptrend intact and dips remain attractive to Buyers

TG.Press – BTC has high probability of returning to $4,500 before bullish rally

Ethereum

CryptoGlobe – Ethereum price to move soon after holding steady: MACD indicator

NewsBTC – ETH price approaching significant support

XRP

Blokt – Bearish divergences preceded price drops in XRP

CryptoGlobe – Long term, bears not expected to pull price below $0.25

Litecoin

FXStreet – Bounce is expected, but will it sustain?

Crypto Daily – Technical support expected around the $72.10 / $67.17 / $65.60 levels

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