Tom Lee: Bitcoin has bottomed outsteemCreated with Sketch.

in #trading4 years ago (edited)

Tom Lee, a Bitcoin cop and known for his research company Fundstrat, gave @heiditravels an interview on the current state of the crypto-currency market. He gave a very interesting look at the crypto market.

Regarding the price of Bitcoin, Lee says his company believes that Bitcoin has bottomed out at about $ 6,000 and the next target is $ 20,000:

I think people are too bearish [...] Bitcoin's breakeven by the end of this year will be close to $ 8,000 or $ 9,000, and historically it's trading at 2 1 / 2x, so $ 22,000 is possible. [...] Bitcoin in a month before its peak, even almost tenfold. It increased by a factor of 8 from October to November 2013, and the bear market from 2013 to January 2015 amounted to 450 days, resulting in a decline of 90%. Prices simply fell to the level of October 2013, so they had more than a year to earn just one month of gains, as October 2013 was the month when Bitcoin parabolic reached its peak in November 2013. By the same logic, Bitcoin went parabolic last October and November when Bitcoin was around $ 6,000. $ 6,000 to $ 20,000 was just as parabolic, so we're just logically returning to that level.

You can view the entire interview below:

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bitcoin wil start to move up

Great article at the hour of need. Full of enthusiasm. To summarize the mother of cryptocurrency our loved Bit coin is going to boom what all crypto believers having a deep faith. The entire interview is very much analytical as per as investment purpose is concerned. According to me investing in BTC is the best and safest option for long term. Thank you sir for such a nice information and all the best wishes to you.

Nice post on crypto waiting for bull run.

Aaaaaah Dogecoin 😍

great interview! It made my day positive. If only i had put $1000 on FANG (Facebook, Amazon, Netflix, Google) I would be a millionaire. I'm not gonna miss the boat this time I'm going all in on BONE (Bitcoin, Ontology, Neo, EOS/Ethereum)

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I see that as a great hope for other altcoins like #STEEM. With such prediction which pegs Bitcoin growth at 350%, I see STEEM returning to have a base at $5. Thanks @tradewonk for the information

How to view the interview dear? using a a simple phone

Hopefully he is write. And awaiting bull run will come now

I hope the Bitcoin market will move very quickly.

Really wish he got it right cause am pretty skeptical everything crypto right now

good wish for bitcoin

Good luck, Bitcoin :) I believe in you!

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I want to make it known that Tom Lee is one of the 2 people on #fakenews @CNBC that you should listen too...

I hope it turns out fine or better than last year. I have this weird optimism though.

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I hope he is right.

2018 hasn't treated cryptos that well. :)

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