Well-known Wall Street analyst and co-founder of Fundstrat Global Advisors, Tom Lee, has shorten his bitcoin (BTC) price prediction from $25,000 to $15,000, according to CNBC.
Tom Lee is the head & managing partner of Fundstrat Global Advisors. Previously, he served at J.P. Morgan and Salomon Smith Barney. Lee considers to be one of the famous bitcoin bulls due to his promising crypto forecasts.
According to Lee, the main reason for breaking down bitcoin’s forecast was the level at which crypto mining costs math the trading mark.
Lee said:
“While bitcoin broke below that psychologically important $6,000, this has lead to a renewed wave of pessimism.”
However, Lee said that at Fundstrat believe “the negative swing in sentiment is much worse than the fundamental implications.”
Earlier, Tom Lee expressed his surprise by the drop in crypto volatility.
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