The digital currency could re-enter a bull market in just six months, strategist and bitcoin bull Tom Lee says.
div > div.group > p:first-child"> The digital currency has had a difficult run since hitting its all-time high, sinking from its peak near $20,000 per coin in late 2017 to its current trading price of less than $4,000. The CME bitcoin futures curve is up nearly 6 percent year to date but has also fallen significantly from the 2017 peak.
And while Lee also noticed that bitcoin's technical indicators are stabilizing, with the digital currency managing to hold above its 200-week moving average, his thesis centered on the bigger picture. "Fidelity's launching digital custody. Bakkt is going to launch an exchange. We've already seen some high-profile endowments, and pension funds actually invest new money this year," he said."So I think, as an asset class, it's still the earliest days, but I think it's too glib to dismiss the macro."
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