An updated forecast for the development of the situation on the cryptocurrency market from Tom Lee, partner and head of research at FundstratGlobalAdvisors. The confident movement of Bitcoin to the level of $ 10,000, the main trigger of the FOMO, returned the expert to the decisive global predictions of the future main cryptocurrency.
“We are confidently in a bull market”
Currently, Tom Lee is set to a range of BTC trading in the range of 20-40 thousand dollars by the end of this year.
“I think that Bitcoin is going to easily overcome all previous historical highs at $ 20,000 and has the potential to reach $ 40,000 dollars, as the infrastructure and the need for cryptocurrency grows. We are confidently in a bull market, and people need to talk about it , ”Lee told Futures Today on CNBC .
Many in the cryptoindustry do not dare to accept the fact that the "cryptozyme" is really over, the analyst noted. However, the last step of Facebook will provide legitimization of cryptocurrency and will give additional impetus for Bitcoin, which, according to the expert, can become a “reserve currency in cryptospace”.
“Facebook's announcement is a confirmation that the main direction of development of the sector is focused on cryptocurrencies. I think it really destroys the arguments for adopting the blockchain , in the absence of belief in Bitcoin , ”he said.
Tom Lee also noted that Facebook is focused on a stable currency and the creation of a new type of banking system that will complement Bitcoin.
“The development of Facebook Libra is a bullish signal for Bitcoin. This is bad for stable coins and all projects related to decentralized financing, ” Lee said.
Recall, a Twitter analyst popular under the Galaxy nickname, based on the history of Bitcoin price movement, suggested that by the autumn of 2019 the cryptocurrency would overcome the level of 60 thousand dollars.
Publication date 19/06/2019
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