Bitcoin (BTC) will extend the bull market in 2019 and reach as high as $40,000, expects Tom Lee of Fundstrat Global Advisors, reported Bloomberg. The extreme bullish prediction arrives at a time when BTC is back to growing by hundreds of dollars within a day, and fights for a positive move in June, to trigger further gains in the summer.
BTC is unpredictable, and some scenarios include more dips of as much as 30%. Still, the conditions for BTC appreciation are improving. In July, the Bakkt exchange is expected to start test-trading BTC futures. Asian trading is on the increase and stablecoins so far successfully overcome constraints to fiat trading.
Lee bases his predictions on “FOMO”, or new investors jumping on board as they see BTC price move upward. In the past, Lee had ear...