Recently, the founder of Fundstrat, Tom Lee, spoke to the CFO of Binance in a podcast and has again provided a large bullish prediction, confirming his status as a Bitcoin bull and crypto market expert.
‘FOMO will make the BTC price rise 4x’
The famous financial expert believes that should Bitcoin gain momentum again, it will move from $10,000 easily and double its price – FOMO will be the trigger in this case.
Actually the point of the chart is to say “real FOMO” probably starts when #bitcoin exceeds $10,000 as that is a price level only seen 3% of all days...— Thomas Lee (@fundstrat) May 29, 2019
...mathematically equivalent to exceeding $BTC $4,500 in 2017
Looking back, that price was a level that indeed triggered FOMO
Tom Lee explained to Wei Zhou, Binance’s CFO, that the Bitcoin price surge would be quick enough – in the current situation, this is typical for markets of this kind, as Lee said. In less than four months, he believes, Bitcoin may surge from $10,000 to $40,000, provided that it manages to take the historical resistance at the $10,000 level.
In the past, some of Lee’s big bullish forecasts regarding the BTC price have failed to happen, so from the above said, the $10,000 one looks realistic enough to happen.
Lee’s previous ultra-bullish predictions
Tom Lee is a permanent Bitcoin bull. He always produces optimistic forecasts. Still, sometimes he does review them, as it was last year, when he decided to reconsider the large Bitcoin price he predicted by the end of 2018 to a lower one. Even the lower price he predicted for BTC back then never took place, though.
Still, other Bitcoin bulls and investors, such as Mike Novogratz, Tim Draper and Max Keiser, support Lee’s bullish stance on BTC and are positive that in the coming years Bitcoin will become a major substitute for gold as a store of value or at least will become gold’s major rival in this sphere.