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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin To Reach New All-Time Highs, Market Strategist

Best Owie
Best Owie
1 year ago
3 mins read
Gold bitcoin stacked on top each other

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Market strategist Michael Lee says that he sees bitcoin reaching new all-time highs. Lee was on Fox Business Monday in an interview to talk about his outlook on bitcoin. Lee is the founder of investment firm Michael Lee Strategy which offers wealth planning and investment management to clients. Michael Lee Strategy offers its services as an investment adviser representative through Compass Financial.

Related Reading | Bitcoin Volume Continues To See Yearly Lows As Price Struggles To Recover

The founder sees a good future ahead for bitcoin which he explains as a momentum asset class. Michael Lee who is an investor himself does not believe bitcoin will be slowing down soon, calling even new all-time highs for the digital asset as more time passes. According to Lee, he believes that the digital asset will definitely bring in as much profit or even more than any of the other digital currencies currently in the market.

The Best Days Are Ahead For Cryptocurrencies

Market strategist Lee said in the interview that the best days remain ahead for cryptocurrencies, and in particular, bitcoin. The strategist explained that bitcoin is a first mover in the market. Predicting the asset will do just as well as other digital assets or even better than others.

Bitcoin market cap chart from TradingView.com

BTC market cap now sits at $718 billion | Source: Market Cap BTC on TradingView.com

Speaking about fed regulation for bitcoin and cryptocurrencies, Lee said, “I think it’s a long time before we see any sort of taper or any sort of restrictive policy from the Fed.” Lee continued on to say, “it’s not only like that with the Fed. It’s also like that with central banks worldwide.”

Lee’s resolve in the future of the coin looks unshaken, looking positively ahead for the price performance of the coin going forward.

Bitcoin High Price A Result Of Endless Money Printing

Michael Lee also took time in the interview to address the current speculations in the market that connect the recent bitcoin price surge to the rumors of Amazon adding digital currencies on its platform. Talking on this, Lee said that the theory of the price surge being related to the price increase was wrong.

Related Reading | Over $800 Million Bitcoin Shorts Liquidated As Price Surges 12% In 24 Hours

Lee attributed the growth of the digital asset to $60,000 back in April was due to governments printing money and not limiting the amount of fiat being printed.

The founder pointed out that it was hard to explain how the price movements work. But related this to trading activities being carried out in the crypto market.

I think it’s hard to explain some of these moves, but it’s a very much a momentum asset class. So, as soon as you get a little bit of momentum to the upside, the follow on trades just keep coming and coming and coming. And then all of a sudden you go from $29,000 to almost $40,000 in the span of a little over a week.

Featured image from Forbes, chart from TradingView.com
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Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

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Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world’s most quiet and well-behaved Husky. Best’s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well.

As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers.

Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best’s prolific career in the media industry is a testament of how hard work and dedication pays.

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Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
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