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Fundstrat Global Advisors' chief research officer, Tom Lee, dismissed Trump's remarks that he was "not a fan of Bitcoin and other cryptocurrencies, which are not money. and whose value is highly volatile and based on the times ", during an interview on Yahoo Finance YFi PM. Friday.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" In the end, it is a positive point, because crypto-currencies and bitcoins are really in the main scene now – Congress, the Fed, the president intervenes, "he said, noting the chairman of the Federal Reserve, Jay Powell & nbsp;The crypto efforts of Facebook and Bitcoin mentioned by Facebook on several occasions during his testimony before the Congress this week. "It's going to force all those who are not involved – and remember that a very small percentage is really concerned about crypto and bitcoin – that will force the remaining 98% of the world to think about what it means . "" Data-reactid = "17"> "All things considered, it's positive because crypto-currencies and bitcoins are really in the main scene – the Congress, the Fed, the President," a- he said, noting that Federal Reserve Chairman Jay Powell had repeatedly mentioned the crypto and Facebook efforts "This will force all those who are not involved – and remember that one a very small percentage is really concerned about crypto and bitcoin – it will force the remaining 98% of the world to think about what that means. "
The extra attention was also seen as an advantage by Brian Armstrong, CEO of Coinbase, who applauded the president's tweet, declaring that he "dreamed of a sitting American president having to respond to the increasing use of the cryptocurrency years ago. "
Success devoured! I dreamed of an American president in place to respond to the growing use of cryptocurrency years ago. "First, they do not know, then they make fun of you, then they fight you, then you win." We have just arrived at step 3 and all of you. Https://t.co/N3tzUKELaK
– Brian Armstrong (@brian_armstrong) July 12, 2019
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The focus on crypto focuses on weeks of extra attention that followed Facebook's (FB) announces its own digital currency, Libra. Lee predicts that this combined momentum could cause investors to raise the price of bitcoin to new heights ranging from $ 20,000 to $ 40,000 by the fourth quarter. "Data-reactid =" 21 "> The focus on cryptographic constructions After several weeks of attention following the announcement by Facebook (FB) of its own digital motto, Libra, Lee predicts that this combined momentum could cause investors to raise the price of bitcoin to a record high of $ 20,000 to $ 40,000 in the fourth quarter.
"Bitcoin is now trading at a level where only 3% of its historical days have been seen," he said. "If you go back over every step you've made, bitcoin has gone up 200% to 400% over the next four months. So I think if that happens, bitcoin could cost between $ 20,000 and $ 40,000 in the fourth quarter. quarter."
To get there, Lee mentioned that cryptocurrency is expected to surpass the $ 13,400 level that has proven to be a resistance level this year. This could signal the eventual rallying to his end-of-year prediction. However, Lee said that if Facebook's Balance is a major asset for more and more people around the world to become familiar with digital currencies, he does not see it as a necessity to reach new heights.
"In a world without Libra, will crypto be successful? Absolutely. So, I do not think it changes the long-term prospects for Bitcoin, "Lee said.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Zack Guzman is the host of YFi PM as well as a reporter and chief reporter who covers entrepreneurship, startups and the latest news at Yahoo Finance. Follow him on Twitter @zGuz."data-reactid =" 25 ">Zack Guzman is the host of YFi PM as well as a reporter and chief reporter who covers entrepreneurship, startups and the latest news at Yahoo Finance. Follow him on Twitter @zGuz.
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