$ 15,000 IN BITCOIN IS AT THE DOOR: FUNDSTRAT EXPLAINED WITH REASONS
$ 15,000 in Bitcoin is possible, according to Tom Lee.
Bitcoin (BTC) continued to rise as it rose after $ 3,700, seen as a dip, and managed to break the resistance of $ 10,000, albeit momentarily. At the time of writing this article, the BTC, which has been pinned on the $ 9,600 band, is preparing for $ 15,000, according to Wall Street's veteran research firm Fundstrat.
Will Bitcoin Continue To Rise?
Fundstrat analyst Thomas Lee said he thinks four key developments could move the leading cryptocurrency up to $ 15,000. The first and most important of these reasons, according to Tom Lee, is that Bitcoin is the best performing asset of 2020.
Bitcoin has indeed proved what it can do in real terms in the event of a global recession, outpacing both US Treasury bonds and gold in 2020. US bonds rose 21% while gold rose 13%. Bitcoin, on the other hand, hit a record high, rising over 20%.
The second reason, according to the analyst, is that BTC is also the best performing entity of 2019. This shows that BTC has been volatile throughout the year, but has continued to increase its value year after year and has achieved a rise by adapting to global developments. The halving of the block prize, or Bitcoin halving, will take place in four days, Lee said, and he thinks this is one of the important reasons. BTC Halving could indeed leave a hard bullish effect on the price.
Lee's fourth reason appears to be that Paul Tudor Jones bought Bitcoin. Jones ' announcement will attract many institutional investors to the sector, Lee said, arguing that institutional investors also mean a rise.