Market strategist Michael Lee says that he sees bitcoin reaching new all-time highs. Lee was on Fox Enterprise Monday in an interview to speak about his outlook on bitcoin. Lee is the founding father of funding agency Michael Lee Technique which gives wealth planning and funding administration to purchasers. Michael Lee Technique gives its providers as an funding adviser consultant by means of Compass Monetary.
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The founder sees a very good future forward for bitcoin which he explains as a momentum asset class. Michael Lee who’s an investor himself doesn’t imagine bitcoin might be slowing down quickly, calling even new all-time highs for the digital asset as extra time passes. In response to Lee, he believes that the digital asset will certainly herald as a lot revenue or much more than any of the opposite digital currencies at present out there.
The Greatest Days Are Forward For Cryptocurrencies
Market strategist Lee stated within the interview that the very best days stay forward for cryptocurrencies, and particularly, bitcoin. The strategist defined that bitcoin is a primary mover out there. Predicting the asset will just do in addition to different digital belongings and even higher than others.
BTC market cap now sits at $718 billion | Supply: Market Cap BTC on TradingView.com
Talking about fed regulation for bitcoin and cryptocurrencies, Lee stated, “I believe it’s a very long time earlier than we see any form of taper or any form of restrictive coverage from the Fed.” Lee continued on to say, “it’s not solely like that with the Fed. It’s additionally like that with central banks worldwide.”
Lee’s resolve in the way forward for the coin appears to be like unshaken, wanting positively forward for the worth efficiency of the coin going ahead.
Bitcoin Excessive Value A Consequence Of Infinite Cash Printing
Michael Lee additionally took time within the interview to handle the present speculations out there that join the current bitcoin worth surge to the rumors of Amazon including digital currencies on its platform. Speaking on this, Lee stated that the speculation of the worth surge being associated to the worth enhance was unsuitable.
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Lee attributed the expansion of the digital asset to $60,000 again in April was as a consequence of governments printing cash and never limiting the quantity of fiat being printed.
The founder identified that it was exhausting to clarify how the worth actions work. However associated this to buying and selling actions being carried out within the crypto market.
I believe it’s exhausting to clarify a few of these strikes, nevertheless it’s a really a lot a momentum asset class. So, as quickly as you get just a little little bit of momentum to the upside, the comply with on trades simply maintain coming and coming and coming. After which hastily you go from $29,000 to nearly $40,000 within the span of just a little over per week.
Featured picture from Forbes, chart from TradingView.com
