Managing Partner and the Head of Research at Fundstrat Global Advisors, Tom Lee, believes bitcoin (EXANTE: Bitcoin) may reach $40,000 as a result of FOMO (Fear Of Missing Out).
In a note to clients, Lee points out that the leading by market cap crypto after breaching $10,000 may hit its all-time high because of a FOMO trigger. Moreover, the Fundstrat Executive highlights that the crypto winter is over and investors "need to overweight bitcoin."
At press time, bitcoin is trading at $9,125 (+0,59).
Last year, Lee shortened his bitcoin price prediction for the year 2018 from $25,000 to $15,000. However, back then, BTC succeeded to reach its record only at $4,244.
Earlier iHodl reported that Binance will issue its own bitcoin-pegged token on the Binance Chain that will be traded on Binance and proposed for trading on Binance DEX.
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