Tom Lee, the co-founder and head of research at Fundstrat Global announced that he’s firm on his prediction that BTC will hit $20,000 by the end of 2018 like he stated earlier.
Even with time ticking, Tom Lee reports that the price actually climbed after two rounds of testing the waters, uncertainty, and doubt all hit the market in waves. In an interview with CNBC, Lee says:
“We’ve had some bad news this week. Two big setbacks, right? The SEC almost universally canceled nine [ETF] applications, and then China did essentially a re-ban because it sounds like they had to clamp down again on crypto – and Bitcoin’s actually rallied.”
Lee then talks about how the MSCI Emerging Markets Index and hedge funds have on the price. He also talks about this own company’s prioertary BTC Misery Index, which outlines how miserable BTC owners are based on the price and volatility of the token during the swings of the coin’s price.
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