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miche-bit3

Stefan by Stefan
17/02/2018
in Bitcoin News
Reading Time: 1 min read
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BTC Storm, bitcoin, price, level
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If there is any major Wall Street strategist covering Bitcoin, it has to be Tom Lee. As the co-founder of Fundstrat Global Advisors, Lee is one of the few strategists who already talked about Bitcoin and its future. In recent talks to Bloomberg, Lee predicted that Bitcoin is only beginning to rise – even despite the 70% fall from the December all-time high.

 

Lee urged caution during the Bitcoin record “bull run”. He said that the cryptocurrency established a pattern while its bottoms are “V-shaped”. He claims that Bitcoin has registered more than 22 corrections of 10% since 2010.

 

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https://www.twitter.com/fundstrat/status/964221048731336705

 

As he said, during the “bull” periods, it takes 1.7 times the duration of a decline for Bitcoin to recover. If that’s the situation here, Bitcoin will probably reach an all-time high in July this year and set new records.

 

The investor sentiment towards Bitcoin improved over the past few weeks as Lee noted. Even though the 70% drop was “severe”, every investor should know the nature of Bitcoin and its price movements.

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Lee already had some true predictions. He predicted that Bitcoin will increase by 50% (and that happened) in 2017 and that the user activity would rise 10% from the late December levels. He maintains his $25,000 Bitcoin price target for 2022 based on the Bitcoin Investment Trust (GBTC) over the counter price.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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