Bitcoin began the year 2020 positively by breaking the resistance zone and exceeding $ 10,000 last week, which has already added a 36% increase in the year, according to Fundstrat co-founder Tom Lee.
Fundstrat co-founder Tom Lee posted his CNBC Power Lunch interview on his twitter, where Lee said Bitcoin is now at the beginning of a new bullfight.
The #Bitcoin surge has wowed investors, but is it a better bet than U.S. equities for 2020 and beyond? @fundstrat's Tom Lee gives his verdict. $ BTC pic.twitter.com/ad6kMg4yo9
– Power Lunch (@PowerLunch) February 10, 2020
“The increase in # Bitcoin has impressed investors, but is it a better bet than US stocks. UU. For 2020 and beyond?
@fundstrat
Tom Lee gives his verdict. $ BTC «
In the interview, Lee said:
“A lot of good things have happened with Bitcoin this year. One is to cut in half, which will take place in May. But we have exceeded the 200-day moving average, so we are back in the bull market. There is a risk of corona (virus) and geopolitical tension …
Last year, I think Washington killed the Bitcoin rally. But with the elections, that is not within Washington's competition. So, I think Bitcoin could join very strongly from here. «
Regarding the projected strength of the rally, Lee stated that:
«When Bitcoin exceeds 200 days, which was about two weeks ago, its average profit of six months is approximately 190%. So that would point to historical highs sometime this year. "
Stock exchange or Bitcoin?
Comparing the Dow Jones Industrial Average, one of the largest stock exchanges in the United States, currently at 29,276, with Bitcoin, Lee expects the first to reach 30,000 first.
"But if I had to say which one is the first with 40,000, I wouldn't choose Dow."
Dow to $ 30k. #bitcoin to $ 40k
– Thomas Lee (@fundstrat) February 10, 2020
“- Did you choose DOW in a $ 40k race? I'm surprised.
-Dow at $ 30k. #bitcoin for $ 40k «.
