Agency co-founder of Fundstrat Global Advisors Tom Lee is confident that by the end of this year, the price of bitcoin will rise considerably. However, he did not exclude updating of the historical maximum.
«I think that anyone who holds bitcoin 1-2% of capital to hedge multiple risks, make smart bet» — he said in an interview with Fox Business.
Lee pointed to impressive growth this year — from the marks in the neighborhood of $3000 to $12 000, and stressed that bitcoin is not correlated with the stock market. Thus, in his opinion, the first cryptocurrency necessary for the effective diversification of the investment portfolio, what ForkLog wrote earlier.
Why bitcoin should be in the portfolio of each investor
The analyst also added that recently, the bitcoin has shown itself to be a «real safe haven» in times of uncertainty. Over the last week the active price significantly exceeded the market average in Argentina (on the background of the collapse of the peso after the primaries) and Hong Kong (due to riots).
Earlier, Lee said that bitcoin will continue to rally amid trade war, the United States and China.