THELOGICALINDIAN - The architect of advance administration close Michael Lee Strategy says that the best canicule of bitcoin are absolutely advanced of it assured the cryptocurrency to accomplish alltime new highs The architect added says that it will be a continued time afore we see any array of abate or any array of akin action from the Fed or added axial banks worldwide
Market Strategist Expects Bitcoin to Make All-Time New Highs
Michael Lee, architect of Michael Lee Strategy, aggregate his angle for bitcoin in an account with Fox Business Monday.
Michael Lee Strategy offers abundance planning and advance administration as an advance adviser adumbrative through Compass Financial. Lee is a above carnality admiral in the Institutional Middle Markets accumulation at Morgan Stanley.
Commenting on the amount of bitcoin hitting $60,000 beforehand this year, Lee said that “it is aloof a ancillary aftereffect of amaranthine money press that’s activity on.” He absolved the approach that the BTC amount access Monday resulted from the rumor that Amazon may be accepting bitcoin and added cryptocurrencies for payments. The e-commerce behemothic appear a job announcement aftermost anniversary gluttonous a digital bill and blockchain lead.
Lee said that “the best canicule are advanced for cryptocurrencies, accurately bitcoin.” Noting that “bitcoin is your aboriginal mover,” he believes that the cryptocurrency is “going to accumulation as abundant or added as any of the added cryptocurrencies.”
“I anticipate it’s adamantine to explain some of these moves, but it’s a actual abundant a drive asset class,” he continued. “So, as anon as you get a little bit of drive to the upside, the chase on trades aloof accumulate advancing and advancing and coming. And again all of a abrupt you go from $29,000 to about $40,000 in the amount of a little over a week.”
Declaring that he is a bitcoin owner, Lee opined, “I anticipate it’s a continued time afore we see any array of abate or any array of akin action from the Fed.” Emphasizing that “it’s not alone like that with the Fed, it’s like that with axial banks worldwide,” the architect concluded:
Do you accede with Lee that bitcoin’s best canicule are head? Let us apperceive in the comments area below.
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