Thomas Lee Considers Bitcoin Can Reach $40,000 After Surpassing $10,000

click here to see original post

Thomas Lee, the co-founder of Fundstrat Global Advisors, believes that Bitcoin (BTC) could reach $40,000 in the near future if it surpasses $10,000. The crypto bull said that during a recent interview with the CFO of BInance, Wei Zhou. Mr. Lee is one of the most optimistic analysts and experts in the crypto market.

Thomas Lee Sees Bitcoin At $40,000

The financial analyst mentioned that the most popular digital currency is going to experience a FOMO situation if it hits $10,000 in the near future. During the conversation with Mr. Zhou, he commented:

“I think FOMO really gets triggered once Bitcoin hits $10,000, so going from $10,000 to $20,000 is gonna be fast and furious.”

Thus, he shows that Bitcoin’s price increase is going to be accelerated and that this is due to the fact that markets behave in this way. That means that in less than a semester, Bitcoin could move from $10,000 to $40,000. Nonetheless, the first step is to reach $10,000. In order to do so, Bitcoin would have to grow over 28% from the current price level.

“If Bitcoin somehow manages to get to $10,000, it is very likely it will make a run to $40,000 within five months,” he mentioned.

Back in April, Thomas Lee said that Bitcoin was going to spike to $10,000 before the end of the current year. Nonetheless, this price prediction is far from the one that he gave back in 2018 when he said that the digital currency could reach $25,000. Bitcoin has only been 87 days above $10,000 in its entire history, which shows that this price level is very important for the digital asset.

There are other analysts that think that Bitcoin is going to keep growing in the future and that the digital asset could reach even higher levels. For example, Max Keiser, Tim Draper and Michael Novogratz are recognized investors that consider that the virtual currency is going to succeed and surpass its all-time highs.

At the time of writing this article, CoinMarketCap shows that Bitcoin is being traded around $7769. This represents a price decrease of 1.31% in the last 24 hours. However, most of the virtual currencies among the top 10 are falling. Bitcoin is the best performing asset after Litecoin (LTC) among the top virtual currencies.

Try Out Binance Today

For over two years, UseTheBitcoin has done the research, covered the news, and helped readers find the best blockchain projects. The one thing we keep coming back to is Binance.

Binance has set itself apart as the best trading platform for beginners and experienced traders, and gives you hundreds of coins to invest in. Start trading today on Binance!

Share !