As 2019 is coming to an end, many crypto experts are making predictions for the next year about bitcoin and the overall crypto industry. Fundstart’s Tom Lee is also optimistic about bitcoin’s future.
Tom Lee believes Bitcoin will reach $250,000 eventually.
Earlier, Tim Draper predicted that bitcoin will reach $250,000 by the end of 2022. Tom Lee, in an interview with CNBC, when asked about Tim’s prediction, he said that it is possible for bitcoin to reach $250,000 if not in two years, then maybe five years. Lee believes that the next few years will be quite good for bitcoin, and it will achieve mass success. Lee believes that 2020 will be a better year for crypto than 2019.
Bitcoin continues to hover around $7,000
The price of bitcoin slumped down below $7,000 twice in the last month since May. The leading cryptocurrency is being currently traded at just above $7,100. The short prediction is still bearish. Earlier, Chinese authorities announced a crackdown on crypto-related businesses, which coincided with the fall in the price of bitcoin to a six-month low. However, bitcoin enthusiasts are positive about the cryptocurrency’s future. Earlier, Tim Draper predicted that bitcoin will reach $250,000 just six months after the halving event and the mass adoption of the currency will increase.
