Tom Lee Commented on the Situation with Bitcoin
Despite the fact that the first in the capitalization of the cryptocurrency isn't showing the best performance in recent weeks, the bull from Wall Street, Tom Lee, believes that the digital asset is gradually restoring its share in the global market.
He expressed this position during his interview on one of the television programs. In his view, the position of the Securities and Exchange Commission of the United States, which regards bitcoin as a commodity, allows us to talk about a good potential for launching an ETF. Thus, despite not the best situation on the market, bitcoin is still the right option for investment.
In the course of his speech, he recalled that after reaching the price of BTC in 20 thousand dollars at the end of last year, cryptocurrency gradually began to decline in its value. In June and at all, the asset fell below 6 thousand dollars. However, then, bitcoin gradually began to grow, reaching 8 thousand.
Tom Lee pointed to the current level of the dominance of the cryptocurrency. So, over the past few weeks, the numbers have risen to about 48%. Lee believes that in terms of market share, bitcoin is gaining momentum and actually shows how the market reacts to the overall situation.
About a month ago, Tom Lee also spoke on the first on the capitalization of the cryptocurrency. He believes that by the end of this year, the asset should grow to 25 thousand dollars.