Tom Lee: BTC will hit $40,000 if it can break $10k

Bitcoin bull Tom Lee is holding firm to his conviction that a BTC breakout above $10k will lead to a new ATH. On a Binance podcast, the Fundstrat analyst claimed that $40,000 would be likely within a few months afterwards.
Tom Lee: BTC will hit $40,000 if it can break $10k
According to Lee, rivalries between different cryptos are irrelevant when compared to the huge growth potential of crypto as an asset class. The crypto market cap could grow by up to 1000 times, if it is capable of replacing VISA and Mastercard as a major payment system.
Speaking about crypto as opposed to traditional financial systems, Lee claimed that banks currently have excessive influence, relative to the services they provide. He discussed the importance in Africa of cellphones, compared to bank accounts or credit cards, in terms of how payments are processed.
The host brought up Lee's recent comments about Wall Street FOMO, which could kick in after $10k. Lee claimed that "Bitcoin has to make people believe that it can achieve all-time high" in order to get institutions back in. He pointed out that it is currently at a price level that it has only been above for 5 percent of the days in its history.
Generally, FOMO hits when the price achieves a level it has seen 3 percent of the time. After the $10,000 level is reached, there could be a surge of 200-400 percent within the next 5 months.
Powered by Blogger.