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Tuesday, 30 January 2018

T. Lee: 2018 may be the year of the bitcoin rotation

If you have missed the rally in bitcoin and other cryptocurrencies, maybe this year is good to target smaller cryptocurrencies like stellar and neo, according to strategist Tom Lee.
Tom Lee, was one of the most bullish analysts in the past year, predicting a $22,000 rallying price when the bitcoin traded at just $4,000.
Now, however, Lee thinks the other cryptocurrencies will increase their value much faster than the bitcoin this year, at a time that Lee calls the "Great Crypto Rotation."
"The rotation we are talking about will be on the smaller altcoins and the tokens of the big platforms," ​​Lee said.
Lee, however, does not believe that the upside potential of the bitcoin is exhausted. According to him, the most popular cryptocurrency, still has the potential to rise to $25,000 by the end of the year.
"We think the year 2018 will be the year of rotation," explains the expert in front of the CNBC financial magazine.
Lee is the founder and head of Fundstrat Global Advisors, as well as one of the earliest Wall Street investors in cryptocurrencies.
As smaller cryptocurrencies, Lee targets those with a market capitalization of less than $3 billion.
The bitcoin, though the most popular among the cryptocurrencies, suffered a heavy drop in the last month and a half. After reaching a record high of $19,500 in December, the cryptocurrency lost nearly half of its value, dropping momentarily below $10,000. Currently, the bitcoin is traded at levels of about $11,000 per coin.



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