Tom Lee was on CNBC today to discuss how 2019 is likely to treat Bitcoin. He feels overall 2018 laid some great foundations and that there is a lot to be optimistic about in 2019, including the return of the bull market.
Lee remarks on several optimistic trends going for Bitcoin. For one, the sentiment in the larger financial markets is changing:
“We have a risk-on rally in global markets that’s positive for bitcoin; it was a headwind last year. And the dollar isn’t surging like it was last year. That’s a headwind that’s gone away.”
He also comments on the fact that big name institutions are finally getting on board. He references JPM Coin and the coin Facebook is looking to launch. He also touts that more and more financial firms are looking into crypto:
“Fidelity’s launching digital custody. Bakkt is going to launch an exchange. We’ve already seen some high-profile endowments, and pension funds actually invest new money this year.”
Lee went on to make a vague prediction about the bull market returning this year:
“I think the outside window is five or six months before bitcoin starts to look technically like it’s back in a bull market.”
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