Bitcoin will grow 300% in 2021 - Tom Lee

Bitcoin will grow 300% in 2021 – Tom Lee

  • Bitcoin expects to triple the price in 2021

  • Cryptocurrency can potentially grow to $ 100 thousand.

  • Bitcoin market is still small, says co-founder of Fundstrat Global Advisors

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This year will be for the most part reminiscent of the 2017 rally, says co-founder of Fundstrat Global Advisors

Bitcoin will grow 300% in 2021 - Tom Lee

Bitcoin has broken a lot of records in 2020, but 2021 could be even more successful for the first cryptocurrency. This opinion was expressed in an interview with CNBC by Thomas Lee, co-founder of Fundstrat Global Advisors..

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According to Lee, the price of bitcoin by the end of 2021 will be able to “parabolic” rise to the level of $ 90-100 thousand. In particular, Lee cited the example of halving Bitcoin halving halving the number of new coins created and earned by miners in half. This happens approximately every four years and … More 2016, which was followed by a record rally in 2017. Cuts to Bitcoin miners’ rewards in 2020 suggest a repeat of the bullish scenario, Lee says.

Tom Lee bets on millennials

The co-founder of Fundstrat Global Advisors expects Bitcoin to perform “even better than 2020” in 2021. Cryptocurrency growth above previous highs is underpinned by people’s doubts about the dollar’s status, Lee said. The current weakness in the US dollar leads many people to believe that savings are best stored in digital assets:

“I think for the younger, digital generation, bitcoin is the digital asset they want to keep as a store of value,” Lee said.. 

Bitcoin will grow 300% in 2021 - Tom Lee

At the same time, Tom Lee noted that the audience of bitcoin holders is still small, which opens up great opportunities for the growth of the price of the cryptocurrency exponentially..

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“I don’t think over a million people own bitcoin right now. For comparison, about a billion people own other financial instruments, ”Lee said..

Lee also stressed that Bitcoin still acts as a risky asset, so its success correlates with the dynamics of S&P. If stocks fall, bitcoin will follow, Lee said..

Bitcoin price, meanwhile, has lost more than 15%. At the time of this writing, the BTC / USDT rate is $ 29,475.

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