Topic: [2019-02-26] Tom Lee: Bitcoin Will End 2019 On A High Note (Read 407 times)

Is your sentiment on the market for 2019 still a transition from relentless doom to nothingness or has the big pump changed it by any means?

Well if thats the prediction then he is right already because bitcoin grows more than $4,000 now lol 😂

But you’re right on that mate that Tom Lee has already lost his good reputation because of his falls predictions mostly

Remember this guy has been known to cut down his own prediction. Last year he predicted that Bitcoin will end the year at the price of 25,000$ and he cut it down in November to 15,000$ which also didn't happen by the end of 2018. Now this guy's prediction is going vague as possible as all his credibility has been lost and the only way for him to be right is for Bitcoin to go above 4,000$,

I don't really care about this year. It's going to hopefully be a transition from relelntless doom to nothingness and that's as far as my preferences go. If 2021 is a pile of poo I'll be sad.

The crypto market has suffered heavily over the last year, but things seem to have started looking up. Bitcoin’s price is finally rising to break the $4k resistance level, a development that many analysts say could set the crypto on course to a much higher price.

As expected, the big wigs of the crypto space have noticed the positive development, and one of these people is Tom Lee. Tom is the CEO of Fundstrat Global Advisors, and he has always been bullish about Bitcoin even during its most tumultuous days over the past year.

Bitcoin To Soar Higher

Speaking during an interview at the Blockchain Economy Istanbul Summit, Lee disclosed his optimism about the future of Bitcoin. Tom was speaking just as Bitcoin reached $3,900. According to him, the $3,900 price is just a start and Bitcoin is headed for a much higher price by the end of the year.

According to Tom, the current rise of the global markets, especially the stock market, is bound to affect Bitcoin positively. Also, the fact that the dollar is stable is good news for the Bitcoin market.

Bitcoin Doesn’t Need An ETF To Do Well This Year

Commenting on the issue of the anticipated approval of a Bitcoin ETF, Tom had a rather radical opinion. In his view, a Bitcoin ETF isn’t likely to be approved in 2019. He said that although an ETF would be good for Bitcoin, the crypto doesn’t really need an ETF to succeed in the market.

At the moment, there are two ETF applications pending review by the SEC- one by the NYSE, and another by CBOE. Over the last few months, various SEC committee members have shown some level of acceptance for the crypto industry, a development that some people have interpreted to mean that an ETF could be approved soon.

Economic Recession Could Favor Cryptos

At a time when the world economy is staring at a recession, Tom Lee thinks that scenario could actually work in Bitcoin’s advantage. In his opinion, a recession could lead more people to get interested in cryptocurrencies, a move that would increase demand and ultimately drive up the price. However, in terms of the trading volume, Tom Lee thinks that there won’t be much change.

Watch Video >>>https://youtu.be/ynV-XXH1zMk

Source: ZyCrypto

That's not a second shot, but more like the Tom Lee we all are used to make fun of throughout 2018 and even 2019. His current prediction is more than fair and I actually agree with it.

He already had a second shot when he revised his year-end estimate from $25,000 to $15,000.

Agreed. However, it is not about getting another shot, but about his outlook for 2019 and if it is rational or not.

Is it rational for you?

So you're telling us that once upon a time you did listen to him? May we ask why? What has he achieved that made him worth paying attention to in the first?

Most posters here have better analysis and all of them have just as good a chance of guessing price.

I can remember that people were initially hyping him up, but that definitely changed after how he made himself look like a fool with his failed predictions. He shot himself in the foot, and that time on time again.

I won't take any of his predictions serious until he understands what this market is about when hype is no longer the main price driver. He will get it eventually, but it will take some time.

Being wrong each time has definitely had an impact on him and who knows, maybe he can stop being a meme and become someone who people actually value. It's hard to imagine now, but everyone deserves a second shot.

Being wrong each time has definitely had an impact on him and who knows, maybe he can stop being a meme and become someone who people actually value. It's hard to imagine now, but everyone deserves a second shot.

@gentlemand. No, however there might be some people who might have listened to him before. In any case, I reckon his prediction for bitcoin to do better than $3900 on 2019 is rational. What about you, is it rational?

@gentlemand. No, however there might be some people who might have listened to him before. In any case, I reckon his prediction for bitcoin to do better than $3900 on 2019 is rational. What about you, is it rational?

I am only saying that he might be more rational and less emotional today than he was when the market was on high velocity falling down. It might be an appropriate time to begin listening to him again hehehe.

I am only saying that he might be more rational and less emotional today than he was when the market was on high velocity falling down. It might be an appropriate time to begin listening to him again hehehe.

But who cares if a broken clock is right occasionally? What this ecosystem needs is more people with realistic views and accurate predictions based on analysis. Instead we have very polarized doom/moon opinions. To me this is a sign that even after 10 years, the ecosystem is nowhere near mature and there's still a long road ahead.

definitely, these "experts" need to take vacations