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Home Cryptocurrency news

Tom Lee Calls For 100% Bitcoin Returns On Heels of Election, Halving, More

Tony Spilotro by Tony Spilotro
1 year ago
in Cryptocurrency news, Bitcoin
Reading Time: 3min read
tom lee bitcoin crypto fundstrat
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Fundstrat’s Managing Partner and the Head of Research Tom Lee – an outspoken Bitcoin bull – has been mum on the cryptocurrency market for much of the last year.

However, Lee has finally started making comments about the crypto space once again, and is now calling for 100% returns in Bitcoin this year on the heels of the 2020 United States Presidential election, the crypto asset’s upcoming halving, and increase geopolitical risk across the entire globe. Will Lee’s least lofty prediction yet come true?

Bitcoin To Gain 100% In 2020 Following Geo Risk, Election, and Halving

Throughout 2018, Fundstrat Co-Founder and Head of Research Tom Lee made a number of wild Bitcoin calls, earning him a reputation for missing his mark most of the time. It got to the point where Lee would regularly be asked for a new price prediction by every journalist he spoke to, prompting him to pull back on his predictions and instead let the market do its thing.

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Related Reading | Psychology of a Market Cycle: Are Bitcoin Investors In Denial? 

After spending most of 2019 quiet as a mouse, Lee this morning tweeted about the improving “healthier dynamic” across the crypto space fueling the recent rise. However, given rumors that many of this week’s pumps were orchestrated by wealthy miners, whales, and more, it’s difficult to say the crypto market’s dynamic has become healthy.

The improved performance of crypto in 2020 is evidence that a better and healthier dynamic is underway this year. In our view, three positive convergences are acting as tailwinds for #bitcoin and other #crypto in 2020 https://t.co/CcmLtr7M8i

— Thomas Lee (@fundstrat) January 15, 2020

Lee’s other reasoning for why the crypto market may surge and Bitcoin will go on to set over 100% gains hold a lot more weight.

The Fundstrat Managing Partner claims that crypto will shine largely in part to increase geopolitical risk – notably a potential war looming between the United States and Iran, and the fact that nearly all global economies are hanging by a thread, printing money to only further put off an inevitable market collapse.

Cryptocurrencies like Bitcoin were designed to offer many attributes that make it more appealing as an asset during times of global economic turmoil. Banks are unable to print more of these crypto-assets, providing a deflationary aspect to them that should not be undervalued.

Lee also points to the upcoming 2020 Presidential election in the United States – a race that is sure to shake up markets as the current President Donald Trump has plenty of skeletons in his closet just waiting to come out.

Related Reading | Only 120 Days Remain Until Bitcoin’s Halving; Here’s What to Expect

Lastly, Lee cites Bitcoin’s upcoming halving this May as a catalyst to drive further growth. Come May, Bitcoin’s block reward miners receive for keeping the network functional and operational will be slashed in half, causing less selling to hit the market and keep prices rising.

Only time will tell if Lee’s latest calls are accurate, but for the first time in a long time, the calls are almost too modest, considering how powerful Bitcoin’s rallies can be.

Tags: 2020bitcoincryptoFundstratTom Lee
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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