RATE Group | Fundstrat’s Lee on Why Bitcoin Price is Bullish Heading Into 2020
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Fundstrat’s Lee on Why Bitcoin Price is Bullish Heading Into 2020

01 Dec Fundstrat’s Lee on Why Bitcoin Price is Bullish Heading Into 2020

Posted at 10:36h in Bitcoin News by

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Bitcoin (BTC) hasn’t been doing too hot over recent months. The cryptocurrency, which surged from $3,000 to $14,000 from December 15th, 2018 to $14,000 at the end of June — a gain of 360%, has fallen by nearly 50% from the top, forming a strong medium-term downtrend.

Despite this harrowing action, a top industry analyst has kept his head up high, recently explaining to CNBC why he expects for Bitcoin to start to form a positive trend heading into 2020.

Tom Lee Bullish on Bitcoin

Thomas Lee of markets research boutique Fundstrat Global Advisors recently took to CNBC to talk equities. While the discussion mainly focused on small-cap stocks, the host at CNBC fielded him a question about the “bloodbath” in the cryptocurrency market to close out the segment.

Lee bit. First, the crypto analyst opined that the weakness in the price of Bitcoin and other cryptocurrencies can mainly be attributed to the increase in regulatory scrutiny and uncertainty,…

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