Opinion: Why is Thomas Lee so optimistic about Bitcoin and predicting it will go up in 2020
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Answer Opinion: Why is Thomas Lee so optimistic about Bitcoin and predicting it will go up in 2020
Looking at the 52-week history and stats of Bitcoin, we find that the coin rose from $3,500 to a peak of $13,800 in June and finally dropped to $6,600 in December.
However, Thomas Lee has always been an optimist about Bitcoin, but what are the reasons for predicting the rise of Bitcoin in the year 2020.
Thomas Lee is the founder of Fundstrat Global Advisors and discussed why Bitcoin will remain in an uptrend in 2020.
CNBC journalist Thomas Lee was asked why he is so optimistic about the future of Bitcoin.
The CEO of Fundstrat presents his three main reasons:
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The first reason: The next US presidential election in 2020.
As the elections take place, the rules and regulations that are imposed on bitcoin and other cryptocurrencies will be relaxed, this relaxation will make bitcoin rise.
The second reason: Bitcoin is increasingly viewed at a time of adversity and war-like situations. With rising geopolitical tensions in the Middle East, Bitcoin has shown similar behavior to other safe haven assets such as gold and oil.
If these tensions increase, the price of Bitcoin will rise.
third reason: It is the next “Bitcoin Reward” split.
This reward halves every four years, and over time, fewer bitcoins will become available.
Therefore, with the decrease in supply, the demand will rise, and with the increase in demand, the price will also rise, which is a bit long-term, but it indicates that prices will rise in the long run.
This is how Thomas Lee interpreted his optimism about the future price of Bitcoin, and it seems that his optimism this time is based on some logical reasons.
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Mr. Lee also revealed that many new customers have shown interest in cryptocurrencies and this means that the demand will be higher than ever in the coming years.
But it remains just an expectation like other predictions that may be wrong, and time is what will decide them.
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