Tom Lee mentioned in an interview with CNBC that Bitcoin may attain new highs this 12 months and that Ethereum will surpass Bitcoin.
Lee, chairman of BitMine and co-founder of Fundstrat, claimed that the market efficiency within the first few days of this 12 months gave a optimistic sign for the remainder of the 12 months.
“From a basic market perspective, the rally within the first few days of January is excellent information. It is a very optimistic signal for the remainder of the 12 months and supplies a possible upside in direction of the S&P 500’s goal of seven,700 factors,” Lee mentioned.
Lee mentioned the latest volatility in monetary markets and crypto belongings has been partially fueled by policy-related developments, including that Washington’s measures to restrict bank card rates of interest may trigger a big shock to the monetary sector if carried out. Lee mentioned such laws may weaken monetary establishments’ skill to offer credit score to a broader client base.
In the meantime, Lee identified that the developments relating to the Readability Act are a optimistic growth for the crypto sector. Recalling that the cryptocurrency market suffered a extreme blow in October final 12 months, Lee mentioned that as time passes and this affect is overcome, we are able to anticipate a robust restoration available in the market.
On this regard, Tom Lee mentioned he’s optimistic about Bitcoin, saying, “We imagine Bitcoin has the potential to achieve new highs this 12 months. Nevertheless, we’re much more optimistic about Ethereum and predict that Ethereum will outperform Bitcoin.”
*This isn’t funding recommendation.
