This year will be great for Bitcoin, says Wall Street analyst and founder of Fundstrat Tom Lee. In addition to the halving,he gave two more reasons why the value of the coin will rise. RBC Crypto writes about this.
The entrepreneur attributed the upcoming presidential election to the first. Last year, the White House prevented the Bitcoin rally, but now it will not have time for an opposition campaign, explained Tom Lee.
Another reason he considers politicalinstability in the Middle East. On January 3, the United States launched an airstrike on Iran, after which Bitcoin began to rise in price and went up from $ 6,900 to $ 9,000 in two weeks. According to Lee, there has since been a marked increase in investor interest in cryptocurrencies.
Tom Lee of @Fundstrat says 2020 is going to be a good year for #bitcoin. He explains. pic.twitter.com/oEHiEJKE4m
— CNBC's Fast Money (@CNBCFastMoney) January 23, 2020
I am confident in the long-term growth of the value of Bitcoinalso venture capitalist Tim Draper. In an interview with FOX Business, he advised millennials to invest in cryptocurrency as they stand on the cusp of a new financial revolution. However, its onset will slow down due to the influence of the values of older generations and the obsolescence of the current banking system, the entrepreneur specified.
As for the near term, the price of Bitcoinmay decline towards the psychological support level of $8,000, suggested Coindesk analyst Omkar Godbole. If the coin rate falls below this value, it will continue to fall towards the 50-day moving average, which is at $7,678, the expert is sure.
He added that at the moment the Bitcoin rallyis in question. But such a scenario is possible if the price of a coin can gain a foothold above $ 8800 with high volumes on the part of the buyer, Godbow predicted.
Currently, Bitcoin is trading at $ 8,353 in 24 hours, it has grown by 0.42%. The daily coin trading volume reached $ 24 billion.
</p> 5
/
5
(
1
voice
)
Read this:
4 reasons for the upcoming Bitcoin (BTC) rate appreciation
The stable growth of the Bitcoin exchange rate will begin in March 2020.
Miners did not slow down the pace of production, despite the collapse of the Bitcoin exchange rate
Three reasons that caused the growth of the Bitcoin rate by 40%
The S&P 500 index will become a catalyst for the growth of the Bitcoin rate
TokenInsight Analysts Named Russia's Unexpected Place in the Mining Industry