Thomas Lee, who is considered one of the top-level Wall Street Strategies for the Crypto industry along with being the co-founder of Fundstrat Global Advisors has mentioned in his recent Interview with CNBC, that although the Crypto industry is facing a huge amount of doldrum in the present solutions but the crypto market will reemerge from all the lackluster performance soon.
Lee further in the interview discussion mentioned that in the present times the crypto market is undergoing a bear market situation in the market, which is not a new situation for any trading market. Lee further noted that the Crypto industry witnessed a similar amount of experience in the year 2018 when the cryptocurrency Bitcoin lost more than 70% of its total value from its all-time high.
What are the views of Thomas Lee about the crypto industry in the future?
Thomas Lee in his interview mentioned that 2022 will be one of the most horrific years for the Crypto industry and nobody in the year 2022 has made the money from the Crypto market. Lee further mentioned that this has been the same tuition in 2018 when Bitcoin has been treated to its all-time low of $1,200 from its ultimate high of $17,000.
Lee further in the interview mentioned that the present situation in the Crypto market is considered one of the most important situations in the crypto industry and the situation will help eliminate all the bad players from the Crypto market.
Lee Mentioned that he does not think at this moment that crypto is dead and he has also convinced that soon the Crypto industry will have power in its virtues because of all things the crypto industry offers to the world in terms of digital transaction processes.
The situation during the interview when Lee was asked if he will still recommend the retail investors for buying the cryptocurrency on which Lee briefed that he had been recommending the retail investors put their 1% funds into Bitcoin from the year 2017, had they invested then $1000 into the crypto market, this would have been replicated to 40% of the user’s portfolio analyzing the present value crypto market holds for the cryptocurrency bitcoin.
During the year 2017 when Lee’s Fundstrat published its first report on the bitcoin and predicted that this flagship cryptocurrency will be of valuation of $15,000 and $50,000 by the year 2022.
These predictions of Lee were considered largely true because at the start of the Year 2022 Bitcoin was traded for approximately $50,000 but this cryptocurrency has fallen to $16,000 due to the collapse of the cryptocurrency exchange platform FTX.