Fundstrat co-founder Tom Lee has said that 2020 will be a good year for Bitcoin.
He made this statement while conversing about Bitcoin on a CNBC program.
Tom in an interview, reiterated the fact that he is still optimistic about Bitcoin.
“Yeah. 2020 should be tremendous for Bitcoin because you got the number one the halving occurs, the block rewards to miner getting chopped in half, that’s a decent supply to a major chain.
He added that in the previous year, the White House affected the bitcoin demonstration with their opposition, but with the Presidential elections on the way, it will be a very hopeful year for bitcoin.
In addition, geopolitical anxiety in the Middle East is good for cryptocurrencies.
This is not the first time professionals around the world are making big facts for a Bitcoin convention, and have failed miserably.
A computer scientist, John McAfee, who is also a strong Bitcoin supporter, noted recently that Bitcoin is no longer the future.
This means having a belief in Lee’s announcement about 2020 being a great year for bitcoin is relatively hard.
There was a time last year that Bitcoin got more than $10,000 for a couple of months, and when it did, people like Changpeng Zhao of Binance stated that those who sold BTC lesser than the $10k mark must slap themselves.
However, what emerged was a failure, and no word of explanation from those influencers was given.
This leaves us with the question, “will the bulls come back”?
Investors must put it in mind that Bitcoin is not an asset that makes one rich overnight, but an asset which one is supposed to hold on to for a long period of time.
The more people hold on to it, the greater and higher the possibilities of it to thrive, which is the case with most financial investments.
Who is Tom Lee?
Tom Lee is the co-founder of an independent research company, Fundstrat Global Advisors. He is popular for his optimistic behavior toward Bitcoin.
Lee has a long-term experience and knowledge in stock market analysis and his forecasts are quite popular.
He thinks bitcoin is great for investments and should be embraced as an asset.