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October 2, 2022
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– Bitcoin, cryptocurrencies and blockchain technology.

Fundstrat analyst and executive director Tom Lee believes that the Bitcoin boom is just beginning. In a new interview with CNBC, he said now that the weakening dollar will drive the price of the cryptocurrency further.

Lee: the dollar is weakening, so BTC will rise

First, he sees a correlation between the cryptocurrency market and the dollar.

First, Bitcoin has to be denominated in something. So if the dollar is weakening [i] Bitcoin will retain its value, then Bitcoin will actually increase. But the more important effect is that we have seen a lot of central bank liquidity this year. Surprisingly, the dollar has been really strong for much of the year, but its weakness will make people think, “How do you keep your savings?” Many people thought that gold would be something like that, and I believe that (…) for younger people and those of the digital generation, Bitcoin is the digital asset where they want to store value Lee said.

He also predicted that Bitcoin in 2021 would achieve better results on the chart than the bull market last year showed us. This would mean a price jump by “Over 300 percent” on a 12-month scale.

BTC and shares

When asked about Bitcoin’s correlation to equities, Lee warns that BTC is likely to lose value if the stock market strengthens.

– We must remember that the base of Bitcoin owners is still small. I don’t think there are more than a million people who own Bitcoin, compared to nearly a billion people who own other financial instruments. So it is tiny [rynek] – added. – I think if there will be a correction [wzrostowa] on stocks, Bitcoin will fall – he explained.

Today, for 1 BTC on stock exchanges, you pay approx. USD 29,800, i.e. approx. 2.5 percent. more than yesterday and approx. 20 percent. more than 7 days ago.

Current course You can always check Bitcoin and other cryptocurrencies in the tabs: exchange rate Bitcoin and the cryptocurrency rate at . A place where you can buy BTC and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will learn how to efficiently create one: LINK.

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