“2019 will be a great year for Bitcoin”

Tom Lee, the chief research officer of New York-based Fundstrat Global Advisors, recently spoke about the future of cryptocurrencies.

The analyst – who will no doubt struggle to win his bet of a Bitcoin at $ 15,000, maintained a few weeks ago – this time did not offer figures.

In an interview with the website CoinTelegraph the sidelines of the conference Blockshow held last week in Singapore, Mr. Lee mentioned in particular the influence of global financial markets on the price of digital assets  :

  World markets fell by 10% between October and November. While crypto-markets are traditionally negatively correlated, we have witnessed in the last six weeks one of the most important correlation levels in history. Therefore, I think that the fall of the financial markets eventually spread to the crypto-markets , which came to feed a wave of panic selling. “

Since this summer, the GAFA lost nearly 1000 billion valuation , and raising fears among many investors.

It should be noted, however, that other observers attribute the fall of crypto-markets to the controversial ”  hard fork” of Bitcoin Cash , or to certain  recent decisions of the US stock exchange policeman, who has cracked down on several founders of “ICO-startups”. .

HODLers must ”  be patient  “

HODL BitcoinCoinTelegraph asked the analyst if he had any advice for ”  HODLers  ” – those investors who plan to keep their corners for years to come.

Lee suggested they ”  be patient, ” adding that Fundstrat advised its clients to expose only a tiny fraction of their crypto-currency investment portfolio – only 1 to 2 percent.

  So, they do not worry every day about the evolution of the courses. At the same time, these 2% could become 50% in a decade, if prices were to increase sharply, “he explained.

Bitcoin, Ether and XRP remain strong

Bitcoin, Altcoins and tokens

  • Although Mr. Lee thinks the situation is hopelessly desperate for some of his cryptographic projects, Bit, the main parts of Bitcoin, Ether and XRP are the best chance of survival. In the event of an accident, he / she thinks that they should be able to maintain a reasonable level of value.When CoinTelegraph asks when is the best time to buy BTC, Fundstrat’s founder adds:”I think we’ll meet again as soon as Bitcoin is able to continue its decline in the short term, but that does not change the fact that we’re at the dawn of cryptocurrency and we’re talking about us.” emerging assets […] Adoption will continue to grow and institutional investors will be betting on these assets. ” I think 2019 will be a great year for Bitcoin. ”

    Read also: “Is Bitcoin dead? “

Lee, in his speech on the stage, said that Bitcoin was “just a setback” but not “broken”. And I’ve also added that the crypto sphere is still dynamic, including figures on the BitMEX platform, which is expected to generate $ 1.2 billion in profits this year.

Reference: EthereumWorldNews

This article does not constitute investment advice. We recommend that you do your own research before deciding to buy crypto-money, excessively risky assets. Don’t spend more than you lose. As part of this paper, we will not be responsible for any loss of capital.

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