In the wake of the recent decision by the Federal Reserve, the downward trend in cryptocurrency prices appears to have reversed. Bitcoin (BTC), in particular, has surged above $63,000 and continues to garner attention with remarks from prominent figures in the market.
Article Contents:
Will Bitcoin’s Price Rise?
What is Bitcoin’s Current Price?
Will Bitcoin Cease to Exist?
Will Bitcoin’s Price Rise?
One statement made by Tom Lee, the co-founder of Fundstrat, has captured the spotlight. Lee believes that the price of Bitcoin has not yet reached its peak. During a recent episode of the “Speak Up” program hosted by renowned American investor Anthony Scaramucci, Lee stated:
Lee also emphasized that the recent price decline in Bitcoin should be viewed as a bear trap and a favorable opportunity to buy.
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What is Bitcoin’s Current Price?
At present, Bitcoin is trading at $63,000, marking a 6% increase in the last 24 hours. This surge follows a brief dip to $56,000 on May 1st.
Previously, Lee had predicted that the price of BTC could reach $150,000 by 2024. However, after hitting its all-time high of $73,737, Bitcoin experienced a 16.2% decline.
Will Bitcoin Cease to Exist?
According to Lee, Bitcoin represents the epitome of trust and is undoubtedly a groundbreaking technology. He also emphasizes the numerous advantages offered by Bitcoin’s secure structure.
Taking a different perspective, the research director at Starbucks pointed out that the fact that people are not using Bitcoin to buy coffee at Starbucks should not be interpreted as Bitcoin being impractical.
Returning to Lee’s statements, he firmly believes that due to the scale of the market, Bitcoin’s price will never plummet to zero again. Lee concluded:
Disclaimer:
The information provided in this article should not be considered as investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry inherent risks, and should conduct their own thorough research.
