Investment management firm founder Michael Lee Strategy says that “Bitcoin’s best days are definitely ahead” and expects the cryptocurrency to hit “new all-time highs”. The strategist goes on to say that it will be a long time “before we see any kind of throttling or restrictive policy from the Fed” or other central banks around the world.
Market strategists expect Bitcoin to hit new all-time highs
Michael Lee, founder of Michael Lee Strategy, shared his outlook for Bitcoin in an interview with Fox Business Monday.
Michael Lee Strategy provides wealth planning and management as an investment advisor agent through Compass Financial. Lee is a former vice president of the Institutional Middle Markets Group at Morgan Stanley.
Commenting on the price of Bitcoin, which hit $ 60,000 earlier in the year, Lee said that “it’s just a side effect of the endless money printing that’s going on”. He rejected the theory that Monday’s BTC price hike was due to rumors that Amazon could accept Bitcoin and other cryptocurrencies for payments. The e-commerce giant posted a job posting last week looking for a lead in digital currency and blockchain.
Lee said that “the best days for cryptocurrencies, particularly bitcoin, are ahead of us.” He states that “Bitcoin is your first mover” and believes that cryptocurrency will “benefit as much or more than any other cryptocurrency”.
“I think some of these steps are hard to explain, but it’s a very dynamic asset class,” he continued. “So as soon as you get a little momentum upwards, follow-up business just keeps coming and going. And then suddenly you go from $ 29,000 to almost $ 40,000 in just over a week. “
Explaining that he is a bitcoin owner, Lee said, “I think it will be a long time before we see any kind of rejuvenation or restrictive policy from the Fed.” The strategist emphasized that “this is not only the case with the Fed, but also with central banks worldwide,” concluded the strategist:
So I think Bitcoin is likely to hit new highs, maybe, maybe not in the next few months. But Bitcoin’s best days are definitely before, not behind.
Do you agree with Lee that Bitcoin’s best days are upside down? Let us know in the comment section below.
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