Tom Lee: 2020 Will Be a Big Year for Bitcoin
NICK MARINOFF | April 28, 2019
Bitcoin first exploded to $20,000 by the end of 2017. From there, it entered a long period of decline that saw it lose roughly 80 percent of its overall value by the end of 2018. This lasted for another five months before the currency finally recovered somewhat in early April 2019. There are still plenty of steps to take, however, if the currency is going to spike into the five-figure range yet again. Thankfully, Lee says the time to take those steps is right around the corner. In a recent interview, the longstanding crypto bull claimed: Last year was a terrible year for crypto, a massive bear market, and we published a piece this week just highlighting… 11 signs that historically only take place in a bull market. So, I think the evidence is mounting that there’s a bull market. It’s difficult not to take these words with a grain of salt. While Lee is very respected in the crypto space, his predictions for bitcoin have not always been fully realized. For example, despite the consistent price drops of 2018, Lee was very adamant that bitcoin would ultimately reach $25,000 by the end of the year. He later lowered his predictions to $20,000 and $15,000 respectively, but all the while, crypto continued to incur further price falls.