Tom Lee: Seize the opportunity to buy crypto

Fundstrat Global Advisors founder Tom Lee believes that the cryptocurrency market will be very volatile in the near future. Investors should consider using this period to implement a “buy the dip” strategy.

The crypto enthusiast linked the uncertain situation on the market with the US presidential elections in the fall. At the same time, Lee believes that investors need to be ready to buy digital assets at more favorable prices.

The expert believes that the mood of industry participants is changing. Therefore, digital coin holders who act cautiously can remain in profit against the backdrop of fluctuations in cryptocurrency rates that are expected in the near future.

“Market’s been up seven of the eight months this year. So we know it’s an incredibly strong market. But we also have the September cuts, and we have the election: things that’ll get people nervousm” the Fundstrat founder noted.

According to his early forecast, BTC could rise to $150,000 by the end of 2024. In addition, Lee believes that Bitcoin could reach $500,000 in five years.

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Howard Lutnick also claims that Bitcoin’s recession will soon be replaced by an upward trend. He called stablecoins an important tool for supporting the US economy and called on the Commodity Futures Trading Commission to help create “liberal regulations for the crypto industry.”

“Eventually there’s going to be a CFTC chair who says, you know what, Bitcoin is a financial asset and we’re going to treat it as such,” said Howard Lutnick.