When Bitcoin is in a raging bull mode, it earns more than 13% in the 24 hours before the time of writing and sees a price increase that has not been seen since the beginning of January 2018. Tom Lee seems to be counting on his chance to reach $ 20,000 for future dates.
Tom Lee: Previous highs of $ 20,000 no longer look far away
Market value and the largest crypto currency in the BTC / USDT trading pair are almost broken with the $ 13,000 psychological resistance in Binance. The same pair on different exchanges shows very similar figures as shown in the table below. Bitcoin’s recent rally has been impressive, with a 40% increase last week, from $ 9,000 to under $ 13,000. Earnings went up to 60% last month.
Similarly, Ethereum is trying to get the $ 350 sign after climbing 30% last week and 40% during the month. Tom Lee, co-founder and cryptoanalyst at Fundstrat Global, said he was optimistic about Bitcoin’s price movement and said the BTC would exceed $ 20,000. In his view, re-entering the $ 20K range seems to be a good target in terms of view, although there are no conflicting views.
Tom Lee, the Fundstrat founder, pointed to the big rise in Bitcoin, as usual, claiming that he could easily access the new ATH in the new episode of CNBC’s “Futures Now program. The number one criterion currency has recently gone down slightly and is currently hovering above $ 9,000.
Tom Lee explains Facebook’s crypto money
Lee claims that Facebook’s recent statements are a “complete verification” that shows that the main companies are now focusing on cryptocurrency. So Lee stands against those who say “Blockchain is superior to Bitcoin:
“I think this is actually a very bullish-oriented development for Bitcoin. But for stablecoins, I think it’s really bad.”
Lee also thinks that companies like Gemini will struggle with adoption and stress that Libra will be the dominant stable coin.
Commenting on Lee’s rise forecast, Anthony Grisanti said Bitcoin would be taking a long position when he touched $ 9,500. This could easily lead to $ 10,000. Earlier Lee said that this price level will trigger the highest FOMO level.
Bitcoin experienced a bad 2018, for the most part of 2019, the price movement was upward and we were able to gain. Because many positive things have happened. Most of the old Bitcoin whales buy Bitcoin.
In addition, according to Bitcoinist’s report, Lee published a report at the beginning of 2019 in which he explained his company’s view of this year. In this report, Lee said that positive developments such as Bakkt and Fidelity entering the crypto money market and producing solutions in this field would raise the Bitcoin price. In addition, Lee said that there was economic unrest in the world and underlined that the benefits of Bitcoin would attract more attention.