Yesterday, August 15, a prominent Wall Street analyst and co-founder of Fundstrat Global Advisors financial agency, Tom Lee, said he was confident in the imminent increase in the value of digital gold. According to an interview at Fox Business, by the end of 2019, cryptocurrency could hit a new historic high.
Tom Lee and the rise of Bitcoin
Well-known financial analyst Tom Lee said that Bitcoin will soon hit a historic high and will be able to soar above $20000 by the end of 2019. This was stated by Tom Lee in an interview for the Fox Business news agency.
The analyst also pointed out some correlation between the price of Bitcoin and the state of the stock market. In addition, in his opinion, the internal growth of digital gold this year from the mark of $3000 to $12000 – these are excellent indicators that may indicate that this is not the last global rise in cryptocurrency.
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Also, given the improvement in the stock market in many sectors, Bitcoin could very soon grow above $20000, according to the conditional correlation between industries.
A Wall Street analyst is confident that Bitcoin will grow. Recall that on August 14, Hong Kong exchanges began selling Bitcoins 300 dollars higher than the market price. It is assumed that such a jump in the exchange rate is caused by the unstable monetary policy in the country, as well as the weakening of the national currency.
Editor: Godfrid Brower
See also: "How whales buy Bitcoin for cheap"