Bitcoin [BTC] shouldn’t have a problem hitting the $20,000 mark: Fundstrat’s Tom Lee
In a recent interview with CNBC, Fundstrat’s Tom Lee spoke about the prevailing scenarios in the current cryptocurrency market and touched upon the institutional as well as the public’s perspective on Bitcoin [BTC] price slump. Bitcoin has been undergoing a steady hold above the $6000 mark for some weeks now and investors across the board have called this point as Bitcoin’s strong support. Lee had earlier stated that Bitcoin’s hold at the $6000 mark is a great sign for investors and enthusiasts alike because there is an indication of a reverse in prices.
According to Lee, the prices will shoot up because of certain catalysts acting as a support for cryptocurrencies. He feels that the launch of ICE backed Bakkt will act as a required push for the positive adoption of cryptocurrencies. In the interview, the financial analyst spoke about a survey conducted for both institutional investors as well as the general cryptocurrency public. The results of the survey had shown that 44% of the cryptocurrency Twitter [which is the public] feels that Bitcoin will continue to fall till the beginning of next year. On the other hand, 54% of the institutional investors stated that the price of Bitcoin has bottomed out and from here on out the cryptocurrency is going to see a steady climb.
Bitcoin (BTC) is down 0.24% over the past 24 hours and is currently trading at $6,573.90 on Coinbase. BTC dominance is at 52.1% and the total cryptocurrency market cap is currently at $218 Billion.