It’s Good Time To Buy Cryptocurrency: Fundstrat’s Strategist Tom Lee

Tom Lee, who is a Funstrat strategist, thinks it’s a good time for buying altcoins. He thinks, that “Great Crypto Rotation” is coming.

Lee said to CNBC’s Fast Money :

“We think 2018 is going to be a story about rotation. But the rotation we’re referring to is among the smaller alt-coins and the large platform tokens.”

At recent time cryptocurrencies like Ripple, Cardano, Lumens, IOTA and NEM have grown significantly and Lee believes that small-cap tokens gains are moving into large-cap coins.

Though Bitcoin has seen a great jump last year from $1,000 to $20,000, the other currencies such as Ethereum and Litecoin also brought big profits to its holders.

There were some negative news from China and South Korea, which made Bitcoin to drop under $10,000 before recovering its positions.

Thus, people who look for the Bitcoin developments, are able to use this market slump as a good opportunity to enter the market buy alt-coins with a prospects to sell them for high prices later. Tom Lee is bullish on Bitcoin and believes it will reach $25,000 this year.

LEAVE A REPLY

Please enter your comment!
Please enter your name here