The year is coming to an end, and many crypto experts share their views on what Bitcoin’s future might look like. Tom Lee, Head of Research at Fundstrat, appears to be very optimistic about this.
For cryptocurrencies, the end of the year usually means that prices skyrocket. For 2019, however, this is becoming increasingly unlikely. Bitcoin has even dropped below $ 7,000 – the first time in 6-8 months.
However, the coin made a comeback that also spurred the rest of the market. BTC is currently at $ 7,220.3.
But, as mentioned earlier, the end of the year is approaching, and many influential people in the crypto industry share their views on the current and future state of the market. The most recent predictions come from Bitcoin bull bull Lee.
2019 was not a bad year for Bitcoin
According to Lee, the predictions that BTC will reach $ 250,000 by 2022 may be a little too optimistic. However, he admits that BTC is known for making unpredictable movements and that, although unlikely, such movements could be possible in extreme situations.
However, he is more likely to believe that Bitcoin will reach this value in maybe five years – and that these years will be very good for Bitcoin.
Lee stressed that despite the extreme volatility, 2019 was a very successful year for the coin. After all, the price is currently more than twice as high as at the beginning of the year.
There are many people in the Bitcoin market today, many of whom are relatively new and not used to the wild price movements of the asset. Those who experience it for the first time may panic and sell when the price moves down.
That may have fueled the price crash earlier this year. Long-term investors now know: Bitcoin has a tendency to move up and down – but it always goes up. Sometime.
“2020 will be better crypto than 2019”
Lee believes 2020 will be a successful year for Bitcoin. And better than 2019.
“The easiest way to make money in crypto is a bitcoin position.”
In fact, he seems to be convinced that “2020 should be better for crypto than 2019”. Probably something many investors around the world hope for.