Tom Lee Says Time to Buy Altcoins
Main page News, Bitcoin, Altcoins, Cryptocurrency
Hot topic
Jan. 30, 2018
11235 11k

Bitcoin bull Tom Lee says this year will see the beginning of the "Great Crypto Rotation." The Walls Street investor sees a rotation among the smaller altcoins and the large platform tokens, CNBC reported.

Lee, who is co-founder and head of research at Fundstrat Global Advisors, refers to altcoins, or smaller coins with a market cap of less than $3 billion, that have rallied more than 300 percent in the last four years, as evidence of the crypto-rotation trend.

"That generally marks a peak and then we start to see rotation into large cap-quality tokens," said Lee

"We're starting to see this move into the top 10 tokens and that should actually help large caps rally," he added.

Tom Lee believes that the rotation of cryptocurrencies allows investors who missed the initial wave of digital currency investment with Bitcoin (EXANTE: Bitcoin) to invest in other digital currency assets

The analyst said his firm considers bitcoin's fluctuating prices, "very healthy given the strength of the gains seen in 2017."

Lee reiterated his earlier predictionthat Bitcoin’s value will reach $25,000 by the end of 2018.

Read also:
Please describe the error