Tom Lee is back predicting a new bull run
Tom Lee who over 2018 became quite well known for his Bitcoin predictions. He expected to see the cryptocurrency trade around $25,000 USD at the end of the year. As CEO of Fundstrat an investment advisor company Tom Lee was very generous in giving future price predictions. But after seeing his predictions fail to come through he and Fundstrat stopped giving out official price predictions.
“We are tired of people asking us about target prices … Because of the inherent volatility in crypto, we will cease to provide any timeframes for the realization of fair value.”According to a report by Bloomberg, in an email sent to his clients on December 13 – EWN
But now he’s back predicting a bull market to start in 2019
“2019 is the year about repair”Tom Lee – CEO of Fundstrat CNBC
Tom is also using the future launch of the coin from JPMorgan and Facebook as positives. Helping to give credibility to the crypto space.
“The technicals are really starting to show some stabilization. The real story is the fundamentals. We have seen the launch of digital currencies by JPMorgan and Facebook.”Tom Lee – CEO of Fundstrat CNBC
Further Tom puts a lot of the potential belief in Bitcoin and cryptocurrencies with the potential of creating a new digital asset class. And future launches of Bakkt’s exchange and Fidelity launching their digital custody platform.
And when asked about the timeline for a potential bull run this is what Tom had to say:
”I think the key number to watch is the 200 Moving Average.” And I think the window to is 5-6 months before Bitcoin technically starts to look in a bull market”.
Bitcoin breaks $4,000
Just recently Bitcoin once again broke the $4k mark. It remains to be seen if it stays above it. The overall sentiment has changed, and things are looking more positive. But still a lot of questions remains until anyone realistically believes Bitcoin could reach higher numbers of about $6000+.
Find more interviews and news here on our blog!