Bitcoin Price Will ‘Easily’ Blast Beyond All-Time High Soon: Wall Street Analyst
By CCN Markets: Speaking to CNBC’s Futures Now, Fundstrat co-founder and head of research Thomas Lee said that considering the momentum of bitcoin, the dominant crypto asset is likely to take out its all-time high very soon.
“Well, you know I think bitcoin ultimately becomes a reserve currency in crypto, bitcoin at $9,000 has only been at this level in four percent of its history. We’re deep into a bull market and people are pretty silent about it. I think bitcoin is easily going to take out its all-time high,” said Lee.
#Bitcoin is blasting higher, and @fundstrat's Tom Lee tells @seemacnbc that it could hit new highs very soon $BTC pic.twitter.com/IWB2ImsJS8
— CNBC Futures Now (@CNBCFuturesNow) June 18, 2019
Lee’s optimistic projection of bitcoin comes after the asset recorded a 113 percent increase in value since April within a two-month span from $4,310 to $9,200.
Why analysts are so optimistic about bitcoin price at this current phase
Historically, as a highly volatile asset, bitcoin has tended to record most of its gains in a year within a 10-day time frame, as Lee previously explained.
