Tom Lee Expects Bitcoin (BTC) to Be “One of The Most Profitable Cryptocurrencies” of 2019
Tom Lee, CEO of Fundstrat, and one of the most popular analysts in the community of crypto users and traders is having a heavy media presence this week due to his strong bullish position on Bitcoin (BTC) despite its current price behavior.
A few days ago, in an interview with The Crypto Chick, Mr. Lee stated that Bitcoin has a very good chance of overcoming the 20k barrier by 2019. According to his analysis, Bitcoin has had a price increase in 80% of the scenarios with characteristics similar to the current situation.
Also, Lee mentioned that Ether (ETH) also has high probabilities of reaching close to 2k USD given its high adoption level. Also, Mr. Lee commented that even for those who do not believe in Ethereum, the chances of profit are very high in case of buying tokens at the current price.
In addition to his YouTube interview, Tom Lee was invited to give a lecture at Asia Blockchain Week, an event organized by Blockshow which will be hosted in Singapore from Nov. 27 until Dec. 1, 2018. On the occasion of this invitation, Lee gave a pre-interview, discussing his vision on the current and future panorama of cryptos and blockchain technologies.
Tom Lee Foresees a Nice 2019 for Bitcoin (BTC) … and Stablecoins
Tom Lee considers that at current levels, Bitcoin (BTC) prices are very close to the overall average of mining costs, making it possible to foresee a sharp price increase in the near future.
Lee also mentioned that he expects Bitcoin to be one of the most profitable cryptocurrencies in 2019:
“Bitcoin is preparing to break out. It has found support around the $6,000 level, which equals the breakeven for mining costs … In the past year, we saw the best performing cryptocurrencies have had the best growth in active users (e.g., EOS, XLM, BTC, and DOGE). I at least expect Bitcoin to be one of the most profitable cryptocurrencies next year.”
Also, when asked about the controversy surrounding USDT, Tom Lee mentioned that he trusts the team behind Tether and feels comfortable handling the stable coin:
“I am comfortable that USDT is backed by USD and I have confidence in the Tether team. Stablecoins are a novel idea, and I hope they work.”
Mr. Lee will participate on a panel during the main stage of BlockShow Asia 2018, November 28 at 2:30pm, discussing the topic: “The Next Miracle: Can Blockchain Bring The ‘Asian Tigers’ Back?”. He will later give an exclusive speech at 5:50 PM