Market strategist Michael Lee says that he sees bitcoin reaching new all-time highs. Lee was on Fox Enterprise Monday in an interview to speak about his outlook on bitcoin. Lee is the founding father of funding agency Michael Lee Technique which provides wealth planning and funding administration to purchasers. Michael Lee Technique provides its providers as an funding adviser consultant by Compass Monetary.
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The founder sees a great future forward for bitcoin which he explains as a momentum asset class. Michael Lee who’s an investor himself doesn’t consider bitcoin can be slowing down quickly, calling even new all-time highs for the digital asset as extra time passes. In keeping with Lee, he believes that the digital asset will certainly herald as a lot revenue or much more than any of the opposite digital currencies presently out there.
The Finest Days Are Forward For Cryptocurrencies
Market strategist Lee mentioned within the interview that the very best days stay forward for cryptocurrencies, and specifically, bitcoin. The strategist defined that bitcoin is a primary mover out there. Predicting the asset will do exactly in addition to different digital belongings and even higher than others.
BTC market cap now sits at $718 billion | Supply: Market Cap BTC on TradingView.com
Talking about fed regulation for bitcoin and cryptocurrencies, Lee mentioned, “I feel it’s a very long time earlier than we see any form of taper or any form of restrictive coverage from the Fed.” Lee continued on to say, “it’s not solely like that with the Fed. It’s additionally like that with central banks worldwide.”
Lee’s resolve in the way forward for the coin seems unshaken, wanting positively forward for the worth efficiency of the coin going ahead.
Bitcoin Excessive Value A Outcome Of Infinite Cash Printing
Michael Lee additionally took time within the interview to deal with the present speculations out there that join the current bitcoin worth surge to the rumors of Amazon including digital currencies on its platform. Speaking on this, Lee mentioned that the idea of the worth surge being associated to the worth improve was unsuitable.
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Lee attributed the expansion of the digital asset to $60,000 again in April was as a consequence of governments printing cash and never limiting the quantity of fiat being printed.
The founder identified that it was onerous to elucidate how the worth actions work. However associated this to buying and selling actions being carried out within the crypto market.
I feel it’s onerous to elucidate a few of these strikes, nevertheless it’s a really a lot a momentum asset class. So, as quickly as you get a little bit little bit of momentum to the upside, the observe on trades simply maintain coming and coming and coming. After which hastily you go from $29,000 to nearly $40,000 within the span of a little bit over every week.
Featured picture from Forbes, chart from TradingView.com