Fundstrat's Tom Lee Puts $100,000 Target on Bitcoin Amid Violent Crash

Alex Dovbnya

Tom Lee is not deterred by the ongoing Bitcoin sell-off

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Tue, 23/02/2021 - 20:13

Fundstrat's Tom Lee Puts $100,000 Target on Bitcoin Amid Violent Crash

Cover image via www.fundstrat.com

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Fundstrat's Tom Lee has set his Bitcoin target at $100,000, claiming that the cryptocurrency is currently "on sale" in a recent tweet.

Bitcoin is currently down more than 20 percent over the past two days, recording its biggest streak of losses since early January. At press time, it is trading just above the $46,000 level.

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Lee says that corrections of up to 50 percent are part of Bitcoin's "DNA and history," asserting that they do not affect its fair value.

As reported by U.Today, Lee predicted that the top cryptocurrency could soar to $90,000 in 2021 back in December.

#Bitcoin News #Tom Lee

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.