$25,000 Bitcoin Price Next for Perma-Bull Tom Lee after Ringing Crypto Winter Dead
By CCN: Fundstrat CEO Tom Lee says the ‘crypto winter’ is finally over, offering 13 solid reasons to back up his claim. According to the bitcoin perma-bull, there’s nothing but blue sky between here and his $25,000 price prediction.
If he’s right, then bitcoin has bottomed for this cycle and we have now entered a bull market. Lee’s 13 signs touched on everything from technical analysis, Wall Street involvement, bitcoin metrics, and generally positive sentiment.
After a disturbing pullback to ~$6,200, #Bitcoin back >$8,000 further cementing positive trend intact.
As we said a few weeks ago, Consensus 2019 @coindesk was to prove whether crypto winter is over…
…confirmed pic.twitter.com/M8ni4g2YvX
— Thomas Lee (@fundstrat) May 19, 2019
Bitcoin’s “disturbing pullback” to $6,200 just a blip
Lee said that bitcoin’s recent flash crash to $6,200, which was triggered by a huge sell order on Bitstamp, was a blip. And the subsequent rebound to $8,000 strengthened the case that bulls were back in control of the market.
Tom Lee believes bitcoin has bottomed at $3,200 and begun the road to recovery. Source: CoinMarketCap
As Lee points out in his 13 reasons, negative news stories no longer seem to dent the market. Citing recent events that ought to have shaken the markets, he said:
“Stable market reaction to controversy around Bitfinex/Tether and NY Attorney General’s court order alleging undisclosed transfer from Tether’s reserves to Bitfinex in order to cover up mishandled funds.”
