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Funny Or Not, Tom Lee Lowers His Year-End Bitcoin Price Target To $15,000

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The co-founder of Fundstrat, Tom Lee, is in the latest Bitcoin news – again for his (quite unusual) price predictions about the price of the largest cryptocurrency by market cap. According to Lee, the Bitcoin price target of $15,000 is still possible.

Lee’s new prediction is a dramatic drop from his bullish $25,000 price target from early 2018, when the crypto market seemed poised for a major explosion. As he told CNBC on November 20th:

“Global markets have seen liquidity dry up, and bitcoin is not necessarily a value asset — so as growth stocks, tech, and FAANG come under pressure, it’s going to hurt bitcoin. The downturn in FAANG is hurting those owning bitcoin.”

Despite the killer downward trend that Bitcoin is facing right now, Lee remains bullish about crypto and believes that we are merely undergoing an “awkward transition.”

As he stated, crypto still has a bright long-term future ahead and there is no doubt that institutional investors will start coming around.

““The next wave of adoption is institutional,” Lee said. “There is a crossover happening. This is just an awkward transition.”

He also said that institutional investors will start making giant leaps into crypto. As he revealed:

“Institutional backing will come soon. You will get it partly through infrastructure, like Bakkt, which is launching soon. Part of it is going to come through regulatory clarity.”

Tom Lee concluded by saying that the regulatory scrutiny of crypto scams would benefit the industry by easing consumer and institutional anxiety about the burgeoning industry.

“Digital assets are going to be relevant in a world where growth is increasingly digital,” Lee said. “So bitcoin is a real bet on [the future].”

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