Tom Lee – the famed market strategist behind Fundstrat and one of Bitcoin’s most vocal early bulls – has been appointed as chairman of BitMine Immersion Technologies and the company is now pivoting with a $250 million private placement dedicated to accumulating ETH.
Despite Bitcoin’s recent correction below $90,000, Fundstrat’s Tom Lee maintains his bullish long-term outlook while acknowledging potential short-term volatility.
Despite Lee’s positive outlook for Bitcoin, not all analysts share his unbridled optimism.
While all the predictions from influential figures and institutions mentioned in our article provide intriguing insights, it’s always crucial to approach them with caution.
The approval of spot Bitcoin ETFs is expected to tip Bitcoin’s supply-demand dynamics in the direction of a significant price surge.
Renowned crypto analyst is advising investors to still invest in Bitcoin.
Lee recommends taking profits off the table and injecting them into other market segments.
Dow Jones, S&P 500, and Nasdaq Composite all surged between 10-12% during the month of November as markets remained upbeat on positive news of vaccine rollout. Analysts expect the market to continue its run ahead in December and end 2020 on a strong note.
It looks like Bitcoin bulls are preparing to take the BTC price above its all-time high of $20,000. While the BTC market rally has been overwhelming, several Bitcoin proponents thin that there’s a lot more to come in 2021.
The tech sector continues to push the markets higher on Tuesday along with better economic data coming out of China. The U.S. Industrial Production data for August shows 0.5% jump.
Stocks rallied on Monday as investors cheered early signs that lockdowns in the U.S. and Europe may help to stop the coronavirus pandemic. Meanwhile, many Americans say that $1,200 stimulus checks won’t be enough.
Fundstrat’s Tom Lee said that the price of Bitcoin could surge to $500,000 in the long term, but he failed to mention the exact timeline for such a pie-in-the-sky target to be achieved.
The BTC chart shows a “golden cross” occurrence which demonstrates that the Bitcoin price can shoot over 150% from the existing levels in the next six months.
Bitcoin price is hot, with analysts enrolling their opinions regarding future movements. Let’s take a look at them: will BTC reach $12,000 or will it fall?
As Bitcoin is ranked among the top hot topics by Weibo in China, analysts think the popularity will catalyze its market price to $40, 0000. However, BTC dominance is down in the $300B crypto market.