Bitcoin and S&P 500 to work parallelly according to Tom Lee

ADVERTISEMENT

In a recent interview, Tom Lee, who is the co-founder of Fundstrat Global Advisors, shared his thoughts about the state of the cryptocurrency market and how things are going on in the market.

Being a Bitcoin bull, he retained his positive attitude towards Bitcoin and said that soon the currency will reach a new ATH very soon. However, he added that the market needs a catalyst that will help it escape from the range-bound and directionless trading. He bets that the stock market will see a rise in the coming days.

According to him, introducing a monetary policy approach which is exploited by global central banks will lead to a strong liquidity growth. This way, a low-interest-rate environment will build up in the market, which will force investors to invest their money in different assets.

Lee believes that history repeats itself and an increase in the S&P 500 will lead to a strong bull’s run for the cryptocurrencies. If the S&P 500 market hits the 3,125 level by the end of the year, Bitcoin and other cryptocurrencies will see a bullish run in the market.

ADVERTISEMENT
Vineet Chaudhary
Vineet Chaudhary
Vineet Chaudhary is a content writer with computer applications as his background field. His interests range from writing and photography to going out for trips and rides on weekends.

Leave a reply

Please enter your comment!
Please enter your name here