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Tom Lee, founder of Fundstrat Global Advisors, shared his optimistic outlook on the price of the first cryptocurrencies. He highlighted the main factors that, in his opinion, will push the price of BTC to new records.
In a recent interview, Tom Lee said the crypto winter is over and now the market is slowly returning to a bullish trend. He said:
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Last year, the price of BTC rose 90%. We believe that this year it will grow even more due to a number of factors. One of these factors is halving.
Lee sees technical market indicators asthe second important factor for asset growth, as recently BTC closed above the 200-day moving average. In his opinion, such an indicator indicates the start of a bull race. In addition, the rapid spread of coronavirus, affecting China, will also become a serious driver of Bitcoin price.
All of these factors are likely to push the price of bitcoin to new historical highs in 2020. Tom Lee believes that the fair price of BTC is now $ 14,000.
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