Tom Lee, one of the most influential people in the whole crypto universe, predicted that Bitcoin would enter bull market in 2019, however can we take it seriously if some of his predictions did not come true in the past?
Tom Lee’s prediction on Bitcoin price in 2018
The founder of Fundstrat Global Advisor, Tom Lee, was quite optimistic about the future of the world’s first cryptocurrency. At the beginning of the last year, he made a prediction, in which Bitcoin would reach the $25,000 by December. However, in July, Tom made an adjustments, changing the estimate rate by $22,000. Early in November, the forecast was changed again to $15,000. Eventually, BTC should have grown by more than 170% in a short term.
However, we all remember crypto prices’ collapse in the second half of 2018, when Bitcoin set new record in lowest price almost every day. The price of Bitcoin varied from $3700 to $3900, making 2018 the worst performing year for cryptocurrency market. The leading cryptocurrency’s price dropped by 70% from its opening price of approx. $13,000 in the beginning.
Thus, some people consider Tom Lee’s predictions as unreliable, in fact, they have such a right, yet let us look at what he thinks about 2019’s Bitcoin price.
Bull market is coming back, Bitcoin will return its high price
Tom Lee gave a small interview to CNBC, where he shared his thoughts considering Bitcoin’s price.
“I think 2019′s a year about repair,” Lee said. “We have a risk-on rally in global markets that’s positive for bitcoin; it was a headwind last year. And the dollar isn’t surging like it was last year. That’s a headwind that’s gone away.”
He talked about crypto’s stability and adoption of digital currencies by many influential companies, like JP Morgan, Mizuho Bank, and Facebook. Such a tendency may bring Bitcoin to much higher prices. This time, Tom Lee has not mentioned any specific numbers about Bitcoin’s price.
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