Saturday , April 17 2021

Tom Lee: A Bear Market – Gold Time for Bitcoin Investors

According to analyst and co-founder Tom Lee, the analyst and co-founder of Fundstrat Global Advisors, the downward trend that has been going on for almost a year is the s golden time # for the crypto money market participants. Reported by Cointelegraph.

Speaking at the BlockShow Asia 2018 conference, Lee mentioned three main reasons for the market collapse:

  • disputed hardfork Bitcoin Cash (BSH)
  • Fierce measures related to primary coin offerings, including requests for refunds to ICO investors by the US Securities and Exchange Commission
  • In global markets, the 10 terrible% situation decreased by about 10% during the October-November period.

Despite all these factors, the analyst is still optimistic. Lee, who explained the current market situation, said:

"Now we have a fix as a result of the price. [биткоина] Dropped below 200-day moving average [EMA]. But it will grow after a while. It won't happen in three months or years, but in two to three years. And now it's the golden time of the crypto industry. "

Tom Lee believes that the crypto currency will be a full-fledged and generally accepted class of assets.

Sat If you buy on a bear market, the return on investment can be only seven percent. Bitcoin may have short-term recessions. However, this still does not deny that we are at a very early stage in the development of the crypto-mercenary unit. "She loved it.

Lee, BlockShow & # 39; in his speech, the crypto industry is now only 50 million active wallet, he said. At the same time, the total number of Visa and MasterCard accounts is 4.6 billion. So taking into account the potential impact, the analyst cannot prevent the price of Bitcoin from reaching $ 10 million in ten years.

Finally, Tom Lee said BTC will show "the good side" next year, although the next three months will be filled with a possible price drop. The analyst forecast is based on the fact that corporate investors and large corporations, such as Microsoft and Starbucks, are interested in digital currencies.

Recently, Tom Lee said that the recent drop in Bitcoin's price is inherent in the short term.

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