Bitcoin (BTC) will reach 40,000 before the Dow Jones does, according to the analyst at a 200% price jump by August 2020.
Talking to CNBC in a meeting on Feb. 10, Fundstrat Global Advisors co-founder, Tom Lee, stated that though the Dow would hit 30,000 points before Bitcoin strikes $30,000, 40,000 was another story.
Lee: ‘I would not pick the Dow’
After hitting drops off $10,150 over the weekend, whilst BTC/USD is the Dow deals in 29,280, an all-time large.
“My guess would be Dow, but if I had to say what is first to 40,000, I would… I would not pick the Dow.”
“Yes, @fundstrat simply said he believed Bitcoin could nearly triple this season & conquer the Dow into 40k,” sponsor Kelly Evans supported.
$4K or $27K for BTC?
Before the notorious Bitcoin bull stated due to this cryptocurrency breaking immunity supplied by its 200-day moving average cost, it had been because of treble in only six months.
That prediction sparked controversy from other dealers, who advised Cointelegraph that such optimism was misplaced.
Yet, after climbing 40% Nominal, Bitcoin has witnessed a new wave of cost forecasts from renowned characters hit the airwaves.
Most recently, Trading Bitcoin podcast sponsor, Tone Vays, cautioned the brief term could create as low a cost as $4,000. Contrasting him would be the likes of fellow veteran Peter Brandt, who thinks those awaiting $6,000 have”overlooked the floor.”
Since Cointelegraph reported, PlanB, founder of the highly precise stock-to-flow Bitcoin cost version, shares the opinion that BTC/USD will stay higher — at least 8,200 before hitting a giant $100,000 at the end of 2021.