Tom Lee, co-founder of Fundstrat International Advisors, is thought for his daring predictions for Bitcoin (BTC), however made his remarks after a pointy decline.
Chatting with CNBC, Tom Lee stated he predicted Bitcoin can be weak within the brief time period and powerful in the long run.
The legendary stated that Bitcoin is ready as top-of-the-line performing property this yr, but it surely faces short-term challenges.
Noting that every one Bitcoin DIPs current buy alternatives, Lee may very well be as little as $70,000 in February earlier than Bitcoin recovers, and if this situation unfolds, it might be a robust buy alternative. I warned that I might current it.
“I believe Bitcoin will once more be top-of-the-line performing asset courses this yr.
Nonetheless, I believe there may be nonetheless a debate that BTC is a harmful asset within the brief time period. I believe the latest decline in Bitcoin was resulting from market liquidation that occurred over the weekend.
So February couldn’t look good on Bitcoin any time quickly, falling to $70,000. ”
*This isn’t an funding recommendation.
