Despite the sharp drop in Bitcoin last week, Tom Lee, General Director Fundstrat, continues to insist that the market is soon waiting for the «bullish» moods. In an interview for CNBC, he noted that BTC still has enough reasons for increasing the cost.
According to whether, even against the background of the general «bearish» trends, Bitcoin’s dominance increased in proportion to what is a clear indicator of investor confidence in strength and its potential. He also believes that, although the news last week was supported by «Medvedes», investors with long-term work strategies are published on the market.
Tom also noted that the ups and downs can be viewed as an asset health indicator. Such behavior, from his words, is in no way a sign of weakness for BTC, since he repeatedly tested the support of $ 6 thousand. «Bitcoin is not broken if it still keeps in stable levels. People are afraid that he will return to $ 6 thousand and will not be able to defeat the «bears», although it has repeatedly happened, «says Lee. He also noted that, as a rule, in unstable markets, the social impact of many news often leads to an exaggerated reaction.
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