Tom Lee, Fundstrat: I Still Believe In Bitcoin At $15 000
The founder of Wall Street’s company believes that the drop of rate of the first cryptocurrency below $4500 won’t prevent it from increasing in price by 3 times in the near future.
Blockchsin industry sees negative situation now, there is a downward trend, however, as the founder of Fundstrat Global Advisors Tom Lee believes, it does not work against Bitcoin and it still can teach $15 000 by the end of the year. He told that there were two big groups of players in the market: speculators and the ones who used cryptocurrencies and held it. In expert’s opinion, they need to interact in some way to avoid rise of a situation which currently exists.
Institutional investors who will become a key to next wave of distribution of the technology could not fell victims to bitcoin’s drop to it’s a-year-to-trade minimum at the level of $4380. Lee reminds about launch of Bakkt platform which was delayed from December, 12th to January, 24th after the statement made by the analyst.
The analyst claims that once institutional investors come to the market, it will be possible to be more confident about cryptocurrenies.
In the beginning of the year, Lee forecasted that bitcoin would reach $25 000 by the end of 2018, but then he lowered this number to $22 000. Last week, he reconsidered his point of view one more time and announced that the main cryptocurrency would reach $15 000.