Bitcoin Price Prediction: Tom Lee Is Optimistic About BTC’s Price By The End Of 2019
There are lots of Bitcoin and crypto related predictions these days especially after the bearish 2018 and bullish hints from a few days ago.
Most crypto experts expect this year to be better pricewise and they expect crypto mass adoption as well.
The price-related predictions about Bitcoin vary from shy surges to pretty huge ones.
Tom Lee’s prediction on Bitcoin
Now, it’s Tom Lee’s turn to offer crypto enthusiasts his thoughts on BTC’s price.
He’s the Fundstrat co-founder and head of research, and he is offering his take on where BTC will be placed at the end of this year.
Daily Hodl reports that Lee talked to Crypto Market News and said that in his opinion, the price of BTC would definitely recover and it will be “much higher” than $3.900 by the end of 2019.
“I think that several things are going to support the price this year. The first is what we call macro factors – the fact that global markets are rising. Global stock markets are bullish for Bitcoin in the same way that last year’s global stock markets fell, and Bitcoin fell. The dollar isn’t soaring like it was last year so that dollar being weaker is a real tailwind for Bitcoin,” he said.
Lee continued and explained that “The technicals are much more attractive. Bitcoin is bouncing along its 200-week moving average. That’s really been an important support in traditional markets, and I think it’s going to support Bitcoin’s price here.”
Lee also said that Bitcoin’s credibility has definitely improved by now and he addressed the importance os the JP Morgan Coin and Bakkt.
He said that the coin manages to prove the use case of crypto and the launch of Bakkt will represent a tremendous and regulated way for institutions to start experimenting with crypto and invest.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.