In a recent interview with Crypto Tips, the managing director of Fundstrat Global Advisors, Thomas Lee, reconfirmed his bitcoin price prediction despite of the 200-day bearish market.
Lee said in interview:
“People are too bearish… What happens is people get bearish because it makes sense. You know the market conditions have been terrible and we are under our 200-day moving average.”
Nevertheless, the Fundstrat executive went on to express optimism concerning bitcoin price. According to the Fundstrat's research, by the end of this year, the break-even cost of mining one bitcoin will increase to $8,000-$9,000 mark and in the near future, bitcoin will succeed to hit $25,000.
Speaking about the possibility of crypto market collapse, Tom Lee brought up an interesting point, telling that the psychology of investors is to “give 100% probability to the negative” when a bottom is around the corner.
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