Tom Lee, co-founder of Fundstrat Global Advisors, recommends investors to choose Bitcoin (Bitcoin) over Bitcoin Cash (Bitcoin.Cash).
He said that he’d make that decision although he prefers not to pick winners and losers as both currencies have merits:
“If I were putting new money to work today - a fresh dollar - I would be a lot more interested in buying a laggard that could attract inflows as opposed to something that’s already potentially overbought.”
Tom Lee made this statement amidst an ongoing battle of words between Bitcoin and Bitcoin Cash backers.
It’s worth mentioning that Bitcoin Cash topped $1,400 on Monday for the first time in ten weeks. The fourth-largest cryptocurrency on the market had more than doubled its price over the past 10 days.
Meanwhile, Bitcoin gained 10% in the last one week and was hovering above the $9,000 mark, climbing to 40-Day high above $9200 on Tuesday.
By Jade Olafson