The current bear market is a golden time for crypto-operations , said one of the founders of the Fundstrat Global Advisors and the well-known optimist Tom Lee. Speaking at BlockShow Asia 2018 , he noted three reasons for the fall of the cryptocurrency market.
- The first is hardfork Bitcoin Cash .
- The second is the regulatory actions of the US Securities and Exchange Commission (SEC), which led the ICO to return funds to investors.
- The third is “terrible” conditions in global markets, which fell by 10% in October and November.
However, the investor did not leave his optimistic forecasts. Describing the situation, Lee said:
“We have a price correction, which led to its fall, but the price will rise. This will not happen within three months or a year, but in two or three years, and now is the golden time for operations with cryptocurrency . ”
In a conversation with the publication of the Cointelegraph, Tom shared his bright eyes :
“The only case when profits exceed 7% is when you buy on a bear market. Bitcoin may fall in the near future, but this does not change the fact that we are in the initial stages of the development of cryptoindustry. "
According to Lee, there are only 50 million active wallets in the crypto industry now. For comparison: PayPal has 2.27 million accounts, Visa and MasterCard have 4.6 billion. Comparing Bitcoin with other payment systems through the cost of social networks, Tom suggested that in 10 years Bitcoin could cost $ 10 million. for a coin.
The investor also believes that Bitcoin will feel great next year, despite the possibility of further price reductions within three months. His conclusion is based on the increasing level of Bitcoin use by large corporations, such as Microsoft and Starbucks, and institutional investors. Lee did not mention the exact numbers, but noted that the price of Bitcoin will be "significantly higher."
As we have already reported, techno billionaire Tim Draper (Tim Draper) remains calm in the face of the Bitcoin collapse and is confident that the world economy will soon switch to cryptocurrencies .
