Bitcoin has yet a lot to show us, and the best moments to invest in are reportedly to come soon. Tom Lee, Co-founder of Fundstrat and expert analyst recently expressed his view on this industry.
Present at the ChainXChange blockchain conference held in Las Vegas, Tom Lee shared his vision on cryptocurrencies in the near future. According to him, users shouldn’t grab to adopt a bearish position regarding the crypto market as there will certainly be a ricochet.
Lee stated that now is the proper time to invest in Bitcoin, otherwise, it will be a loss:
“The question you have to ask yourselves is, ‘Now that crypto is down here, is it appropriate to be bullish or bearish?’ And I just want to absolutely point out it is a mistake to be bearish when you’re already down. This is like looking at stocks in December 2008 and deciding you wanted to become secularly bearish, even though the bear market was ending.”
Fundstrat founder went on discussing the correction the crypto market supported this year, even if it was a pretty strong one- it has been helpful for the market. He repeated a lot that now is the perfect moment to make investments in cryptos while no mass adoption exists.
“So I think the bear market has largely run its course in crypto, and it’s been healthy. It’s been resetting capital. It’s resetting investor expectations. But most importantly, the only time you can really make money in a big way is to buy when investors aren’t buying. That’s the real opportunity.”
In Lee’s opinion, in just a few years the financial strategies known by the Millenials would definitely influence the course of standard finance:
“First Data estimates that by 2020 Millennials will control about $7 trillion in financial assets, of which a very small percentage is allocated to digital assets. But here’s just a thought. What if 10% of that goes into native digital assets, into crypto. As you all know, the multiplier for crypto estimated by Kyle Samani at Multicoin Capital is about 20-25 times, which implies almost a $14 trillion increase in the market cap of the crypto space just from US Millennials allocating into crypto.”
Author: Adriana Midrigan