Current Bitcoin Correction: Tom Lee Highlights Opportunity for Investors
According to Tom Lee, chief investment officer at Fundstrat Capital, Bitcoin’s current price of $90,000 is still a good entry point for long-term investors, even if analysts have warned that the price might drop below $70,000. Moreover, he says Bitcoin will rank among the year’s top-performing assets.
I don’t think anyone is going to lose money buying here at $90,000. If they’re trying to time this, maybe they get lucky, and it goes to $70,000,
Lee
A 15% decline from its peak, according to Lee, is a very typical correction for a hyper-volatile asset. Although there is a chance that Bitcoin might drop as low as the $50,000 level, Lee stated that his company sees one scenario in which it returns to the $70,000 range before rising.
We’re pretty early in this halving cycle, so to me, I think Bitcoin in the near term […] means you’re getting a big opportunity because I think Bitcoin is going to be one of the best-performing assets this year. But that, again, is not a new level; it’s just where it touches before it begins to rally,
Lee
Bitcoin Declines Ahead of CPI Data and Fed’s First 2025 Rate Decision
When the Consumer Price Index inflation data was issued on January 15, Lee predicted that investors would ride out any short-term turbulence and that this date would be crucial for both the stock market and Bitcoin. Analysts have attributed the recent decline in the price of Bitcoin to several factors, including rising Treasury yields, a strengthening US dollar, and worries that the US Federal Reserve may tighten monetary policy in 2025. The Fed’s first interest rate decision of 2025 will be announced on January 29.
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