RATE Group | Fundstrat’s Lee Admits Poor Prediction of Bitcoin Rally, Still Expects $25k Price by Year End
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Fundstrat’s Lee Admits Poor Prediction of Bitcoin Rally, Still Expects $25k Price by Year End

20 May Fundstrat’s Lee Admits Poor Prediction of Bitcoin Rally, Still Expects $25k Price by Year End

Posted at 17:04h in Bitcoin News by

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Co-founder and head of research at Fundstrat Global Advisors, Thomas Lee has admitted that his prediction of a Bitcoin rally after the Consensus conference was wrong. Lee has claimed that the crypto market still “faces significant internal resistance and hurdles within traditional financial institutions,” Bloomberg reports May 18

Having accurately predicted the growth of crypto markets after the US tax day in April, Tom Lee made another Bitcoin prediction on May 7, saying that the cryptocurrency will rally during and after the Consensus conference takes place in New York May 14-16. “We expect BTC and cryptocurrencies to behave similarly to prior years and rally during Consensus,” Fundstrat’s co-founder stated back in the beginning of the month.

In a report to his clients Friday, Tom Lee explained his forecast was based on such factors as the crypto community coming together in a “centralized place,” as well as the “growth in attendance.” These factors were expected…

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