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Friday, 3 November 2017

T. Lee: Buy the bitcoin at $5,500

Tommy Lee, one of the most bullish analysts in the bitcoin, who predicts that the cryptocurrency will rise to $25,000 by 2022, warned investors to be careful.
The bitcoin has risen to a new historic peak at nearly $7,300, which is an increase of over 60% over the past nearly a month.
While growth is largely predetermined by factors such as the rumors that the CME Group will offer futures on the cryptocurrency, and that Amazon buys crypto-based domains, Lee warns that growth of such magnitude may not be particularly healthy.
The expert advised investors to buy the bitcoin at $5,500, keeping its target for the $25,000 price in 2022.
What does Lee want to say?
That it is quite possible to witness a depreciation of the bitcoin to levels of 5,000-5,500 dollars, which would represent a correction of over 30% of the current bitcoin levels.
It should also be noted that Coinbase has added more than 100,000 users in the last 24 hours following the announcement by CME.

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