Fundstrat Analyst Tom Lee Reveals Bitcoin Price Prediction for 2021
Tom Lee gives his prediction on where we will see Bicoin in 2021
“First, Bitcoin’s got to be denominated in something. So if the dollar’s weakening, [and] Bitcoin holds its value, then Bitcoin goes up. But the more important effect is this year we did see a lot of central bank liquidity. The dollar was really strong, surprisingly, for much of the year, but its weakness now is going to make people think, ‘How do you keep a unit in sound money?’ A lot of people thought gold would be that store, and I think it still has a reasonable basis for someone to be long gold, but I think for younger folks and those who are in the digital generation, Bitcoin is that digital asset that they want to hold as a store of value.”
Lee predicts that Bitcoin’s 2021 will outperform its bull run in 2020, meaning “something above 300%” on the year.