Fundstrat’s Tom Lee stated that $200,000 was an “achievable” goal for the most important cryptocurrency a 12 months in the past
In a recent interview with CNBC, Fundstrat’s Tom Lee says that the present cryptocurrency disaster is “not that completely different” from 2018.
Lee claims that the earlier bear market was the time when among the finest initiatives had been created.
He provides that the continued cryptocurrency winter is “an necessary second” for the business since it’s cleaning quite a lot of unhealthy gamers.
Contrary to Mizuho’s senior analyst Dan Dolev, Lee doesn’t assume that crypto is useless. The latter is satisfied that cryptocurrencies could have endurance as a result of they are going to stay widespread with these individuals who worth decentralization.
Lee says that he would nonetheless suggest buyers purchase Bitcoin in spite of the current FTX implosion.
Tom Lee’s prediction fails miserably
With that being stated, Lee admits that 2022 has been a horrible 12 months for crypto. “Nobody has made cash in crypto in 2022,” the analyst stated.
The permabull predicted that Bitcoin would hit $200,000 in 2022 final December. Back then, the Fundstrat analyst described that concentrate on as “achievable,” forecasting that 2022 can be “an excellent 12 months” for the most important cryptocurrency.
What about 2023?
Lee doesn’t rule out that 2023 may be a horrible 12 months for Bitcoin if there’s “extra fraud.”
However, if the FTX disaster was the last word stress take a look at, business leaders might be ready to emerge even stronger from the continued crypto related to how banks of the likes of JPMorgan emerged stronger from the worldwide monetary disaster of 2008.