He even made history! Tom Lee’s Company: Bitcoin Will Fly Like a Missile to Hit $ 17k.
Fundstrat researchers estimate that the price of Bitcoin (BTC) will rise 193 percent after seeing a significant moving average and will see $ 17,000.
Fundstrat company: Bitcoin will rise 193 percent in the next six months!
In a customer note, the Fundstrat company, headed by Tom Lee, predicted that Bitcoin would fly like a missile by rising 193 percent over the next six months. This bullish forecast is based on the leading cryptocurrency once again above the $ 8,900 level and surpassing the 200-day moving average.
The 200-day MA is one of the most important indicators for determining the current market trend in the long run. According to analysts and experts, the uptrend remains intact as long as an asset is above this line. Fundstrat reached the above-mentioned percentage based on Bitcoin’s price performance over the past decade.
“The Bitcoin will fly like a missile,” said Tom Lee’s company and announced his support.
However, it is very important to understand that this rising technical drawing does not necessarily turn into another rally. After the fourth quarter fall, Bitcoin surpassed the 200-day MA in late January, but the new bull run was blocked by the coronavirus pandemic. In mid-February, Fundstrat co-founder Tom Lee predicted that the price of Bitcoin (BTC) could rise to $ 40,000 by sitting just under $ 10,000 in 2020.
COVID-19, a black swan incident, continues to rise in Fundstrat Bitcoin despite destroying the global economy. As previously reported by cryptocoin, Tom Lee is a staunch advocate of a V-shaped recovery on US exchanges, despite terrible economic data.