Despite the collapse of the market, Tom Lee, a well-known Wall Street figure, recently raised doubts about Bitcoin uptrend forecasts recently, during an interview with the CNBC network on Tuesday, November 20, on his new forecast, On the $ 15K bid at the end of the year..
Fundstrat, a research director at Fundstrat, said in a recent statement that there are two types of actors in the digital exchange market..
Those who use it solely and have digital money bag holders, and those who share the risk of market risk..
According to Mr. Lee, these two categories of people on the digital exchange market should find a way to interact with each other, so investors do not suffer seriously in the fall of such..
Lee, while still emphasizing his prediction of a market jump, admitted that the digital currency market certainly had a kind of "negative development," indicating a downward trend..
However, Mr. Lee noted that corporate digital currency investors have not necessarily been damaged by the recent downward trend in the market. Even in the recent fall of $ 4,237, the bitcoin price has dropped..
In this case, he emphasized the outstanding role of institutional participation in the industry, and argued that this segment of the market will, in particular, create a wave of future acceptance in the future..
According to Mr. Lee, there are two key factors that will soon attract investors' inclination towards this market:
The first factor is the launch of the Beckt Digital Asset Platform by the New York Mercantile Exchange (NYSE) and the Intercontinental Exchange (ICE) Exchange, which will take place in the near future. Beckett recently announced January 24, 2019, to launch the platform, according to a statement released this August..
The second key factor is that the greater the legislative clarity in this industry, we will see the growing involvement of organizations and institutions, which is, of course, currently underway. He added:
In my opinion, when this transparency is legal, institutions will be free to do more to invest in risky investments..
Also, the digital currency analyst pointed out that bitcoin was not necessarily an asset to maintain value, and claimed that it would probably be more considered as a commodity and a real opportunity for the emergence of an asset class..
Last week (November 16th), due to the sharp decline in the total market value that began on November 14th, and that Bitcoin recorded a new price floor, Tom Lee would expect his bitcoin price to drop by the end of this year from 25 , Reduced $ 1,000 to $ 15,000..
Earlier on, he had repeatedly predicted that Bitcoin will experience a price above 20,000 by the end of the year. Lee announced his first forecast in January this year, suggesting that the $ 9,000 Bitcoin bid was the biggest chance of buying in 2018, had recommended an offensive purchase..
Recently, one of the world's four largest auditing bodies, KPMG headquartered in the Netherlands, has published its bullish position on digital currencies, claiming that the industry has contributed to investors' contribution to the potential of digital currencies. An institution needs..
Earlier this week, Multam Demirez, senior security officer for CoinShares Investment and Research, claimed that the recent downturn in the market is that corporate investors have pulled out of the market due to the recent Hard Fork (BCH)..
Source: cointelegraph
Maybe This Are Interesting To You:
Where are we going..? (8 reasons for falling bitcoin prices this week)
📈👍😉👌🙏
.png)
