Bitcoin price: Crypto expert says he is STILL bullish on bitcoin | City & Business | Fin…

Bitcoin expert Tom Lee has said he believes the year-end price of bitcoin will be $15,000, cut from the £25,000 target set earlier in the year.

Despite nose-diving prices, Mr Lee said bitcoin is likely to pick up if there is mass adoption of the cryptocurrency.

The Wall Street strategist told CNBC on Tuesday: “There’s a few things that could happen that could drive that. But this past few days has definitely been a negative development because we are talking about breaking to the downside of momentum.”

When asked what the “true downside” of bitcoin is, Mr Lee said: “I think that technicals, especially in a bear market, mean that price levels can retrace beyond like what you think are fair value.”

He added: “I think that digital assets are going to be relevant in a world where growth is increasingly digital.

“So, to me, bitcoin is a real bet on a project where we have 50 million wallets. There is 5 billion visa cards. So, I think the runway is really adoption in the…