Thomas Lee believes bitcoin has entered a bull market – Bitcoin Price News

The last few days have been unreal for bitcoin as the price of leading cryptocurrency went against everyone's expectations. The sudden pump in the price was linked to price manipulation by many, but Thomas Lee believes that bitcoin has entered a bull market because of various factors, including China's recent policy.

After trading at $7,400 for a while, last week, the price of bitcoin surged above $10,000 before retracing to $9,400 at the time of writing. There have been several speculations as to why the price surged so much in just a few hours. CEO of Fundstart, Thomas Lee, tweeted that China’s friendly policy might have played a role in bitcoin surge, among other factors.

Several others from the crypto community also speculated that the Chinese President’s endorsement of blockchain technology might have been the reason behind bitcoin’s price surge. However, not everyone thinks the same Euro Capital CEO, Peter Schiff, believes that recent sharp rally had nothing to do with China, and it was whales who are manipulating the price.

When a tweeter user asked Thomas Lee about when would the US start taking a positive stance on bitcoin and cryptocurrencies, Lee replied, “Not for a long time.”

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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