Tom Lee is a Perma bull. To him, the price of Bitcoin can only go up and up.
Here's what he said to Bloomberg at the beginning of the year
Historically, 10 days comprise all the performance in any single year of Bitcoin’s price. If you just took out those 10 days, Bitcoin’s down 25 percent a year. So as miserable as it feels holding Bitcoin at $8,000, the move from $8,000 to $25,000 will happen in a handful of days.
Instead of $25K, we have over the weekend seen Bitcoin lose about 50% of its value year-on-year, taking other cryptocurrencies down with it.
This is the perfect reminder that when it comes to cryptocurrency, no one knows jack. Only time will tell whether this is the 21st century's version of the tulip mania.
I continue watching with bated breath while the carnage continues. What next, $1400? What price do you predict Bitcoin will close this month? December is many months away and things can change substantially before then, so let's talk about June ending.