Tom Lee: due to halving and coronavirus, the Bitcoin rate will rise by 300%

Fundstrat co-founder believes the pandemic, the reduction in the coin's mining reward and other factors will help itrise in price to $ 40,000. And the user of the Bitfinex exchange noticed suspicious transactions on it that could be used to raise the price of an asset.

Bitcoin Rises To $ 40,000 Withinof the year, said Tom Lee, co-founder of Fundstrat Global Advisors in an interview on CNBC. Among the reasons for the rise in price of cryptocurrency, he attributed halving, an outbreak of coronavirus, geopolitical instability, and overcoming the 200-day moving average.

The #Bitcoin surge has wowed investors, but is it a better bet than the U.S. equities for 2020 and beyond? @fundstrat's Tom Lee gives his verdict. $BTC pic.twitter.com/ad6kMg4yo9

— Power Lunch (@PowerLunch) February 10, 2020

“This year a lot of things are happening around Bitcointhings: halving, the spread of the virus, the intersection of the 200-day moving average. So we again found ourselves in a bull market ... I would say that for a start, Bitcoin will rise in price to $ 40,000, ”Lee suggested.

He added that last year the White Housedeliberately interfered with the rally of the first cryptocurrency. But now the US government is distracted by the election of a new president and will not be able to organize a campaign against Bitcoin, the co-founder of Fundstrat is sure.

However, the user of the Bitfinex exchange Joe007believes that the rise in the value of Bitcoin and other cryptocurrencies, which began in January, is caused by “phantom money”. Large orders periodically appear on the trading floor, which are not intended to buy or sell cryptocurrency, but to create the illusion of demand for an asset, the trader noted. In his opinion, with their help, someone provokes investors to purchase a coin, thereby inflating its price.

“You can push the price so high only withhelp with "ghostly money." At some point, people will want to cash out their crazy incomes, but they will not be able to find someone to sell the asset to. It will be a show, ”wrote Joe007.

At the same time, deny the growing interest incryptocurrency is not possible, says Twitter user Hernz. In his account, he said that the number of Bitcoin requests to Google over the previous week increased by 33%. Presumably, this was due to overcoming the psychological mark of the coin at $ 10,000.

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