Tom Lee, Bitcoin He believes that has not hit its highest level yet. In the last episode of the “Speak Up” program with the famous American investor Anthony Scaramucci, Lee said, “This does not mean today is the turning point. “But I don’t think it’s the peak,” he said. Lee sees the recent decline in Bitcoin prices as a bear trap and thinks that this decline may actually be a good buying opportunity. “The April chaos is kind of deceiving us,” he added.
Bitcoin price increased by 5% in the last 24 hours and reached the $ 62,000 level again. This rise comes after the leading cryptocurrency briefly dropped to $56,000 on May 1. Tom Lee predicted that Bitcoin could reach $150,000 in 2024. Bitcoin is down 16.2% from its all-time high of $73,737.
Why Bitcoin Will Never Go to Zero
Tom Lee argues that BTC is “the purest form of trust” and therefore “absolutely” a breakthrough in technology. He states that the fact that Bitcoin is extremely secure provides many benefits. According to Starbucks’ research manager, just because people don’t buy coffee with Bitcoin at Starbucks doesn’t mean Bitcoin is useless. Lee emphasizes that the fact that the largest cryptocurrency has been around for 15 years has a proven track record of existence.” he stated.
Lee believes that Bitcoin’s price will not drop to zero due to its market size. He states that such a situation would be “unprecedented”. “There have been many attempts to eliminate Bitcoin… but ultimately financial institutions are slowly starting to realize that this is actually a great solution. “That’s why BlackRock and others are supporting this through spot Bitcoin ETFs,” he added.
