{"id":386631,"date":"2019-06-19T01:00:23","date_gmt":"2019-06-19T01:00:23","guid":{"rendered":"https:\/\/uniquehot.com\/?p=386631"},"modified":"2024-06-11T13:44:21","modified_gmt":"2024-06-11T13:44:21","slug":"tom-lee-bitcoin-price-btc","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/tom-lee-bitcoin-price-btc\/","title":{"rendered":"Tom Lee: Bitcoin Price Nearing FOMO Trigger, BTC To Trade Between $20K and $40K"},"content":{"rendered":"<p><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> bulls are back, and they&#8217;ve brought with them the biggest crypto bull of them all: <a href=\"\/tag\/tom-lee\" rel=\"nofollow\">Tom Lee<\/a>. The Managing Partner and the Head of Research at Fundstrat Global Advisors has made many calls for Bitcoin price targets, but once the bear market really ramped up, he began to <a href=\"https:\/\/uniquehot.com\/2018\/12\/13\/tom-lee-bitcoin-declines\/\">bite his tongue and reel in his lofty predictions<\/a>.<\/p>\n<p>But now that bullish sentiment as enveloped the crypto market it once again, and Bitcoin inches closer to $10,000 \u2013 an <a href=\"https:\/\/uniquehot.com\/2019\/05\/13\/10000-bitcoin-price-key-level-to-trigger-widespread-public-fomo\/\">important FOMO trigger<\/a> \u2013 Tom Lee is back to making bold calls about the leading crypto by market cap, and believes that the digital asset will trade between $20,000 and $40,000.<\/p>\n<h2>Tom Lee: Bitcoin Price to Trade Between $20,000 and $40,000, Upside is Substantial<\/h2>\n<p>Like a groundhog poking its head out of a hole to check if winter is almost over, Tom Lee is once again making predictions about the future value of Bitcoin now that &#8220;crypto winter looks over.&#8221; And given his positive prediction for the crypto asset in the coming months, let&#8217;s hope he doesn&#8217;t see his shadow and cause the market to suffer through a few more weeks of bear market.<\/p>\n<p>Jokes aside, the Fundstrat Managing Partner and outspoken crypto bull has made some very serious claims about the prices he is targeting in the future.<\/p>\n<p>While speaking to<a href=\"https:\/\/www.bloomberg.com\/\/news\/articles\/2019-06-18\/fundstrat-s-lee-has-bitcoin-primed-for-fomo-rally-this-fund-too\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"> Bloomberg<\/a>, Lee pointed out how close the asset was to the <a href=\"https:\/\/uniquehot.com\/2019\/05\/13\/10000-bitcoin-price-key-level-to-trigger-widespread-public-fomo\/\">$10,000 Bitcoin price level that would serve as an enormous FOMO trigger<\/a> \u2013 and has done so effectively in the past, doubling the price of Bitcoin in a matter of days once breached. He added in a CNBC segment that Facebook&#8217;s new cryptocurrency is likely to spark renewed interest in Bitcoin.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/06\/10\/bitcoin-crypto-investors-bear-bull\/\">Majority of Crypto Investors Never Experienced Bear to Bull Transition<\/a><\/strong><\/em><\/p>\n<p>Once $10,000 is broken above again, Lee expects a similar reaction to what occurred during the highly-publicized meteoric rise of 2017. Around Thanksgiving that year, Bitcoin passed $10,000 as families talked during family dinners.<\/p>\n<p>The net result was widespread retail FOMO, and the price of Bitcoin reaching its all-time high of $20,000 not even a full month later. The bubble popped, a correction and bear market ensued, and the rest was history.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-386632\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/bitcoin-price-chart-crypto-tom-lee-btc.jpeg?resize=800%2C550\" alt=\"\" width=\"800\" height=\"550\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/bitcoin-price-chart-crypto-tom-lee-btc.jpeg?w=800 800w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/bitcoin-price-chart-crypto-tom-lee-btc.jpeg?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/bitcoin-price-chart-crypto-tom-lee-btc.jpeg?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/bitcoin-price-chart-crypto-tom-lee-btc.jpeg?w=750 750w\" sizes=\"(max-width: 800px) 100vw, 800px\"><\/p>\n<p>Now, after an 85% drawdown from peak to trough, Bitcoin is once again flirting with $10,000, and it could just as easily take Bitcoin back towards its all-time high, and according to Lee, even higher.<\/p>\n<p>In a quote, Lee nonchalantly suggests that Bitcoin will be trading &#8220;in the $20,000 to $40,000 range.&#8221; Such a number would double and quadruple the price per BTC from here, and would set a new all-time high for the crypto asset.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a class=\"row-title\" href=\"https:\/\/uniquehot.com\/2019\/06\/05\/buy-bitcoin-crypto-investors\/\" aria-label=\"\u201cBuy Bitcoin: Why Dollar Cost Averaging Is the Crypto Investor\u2019s Best Bet\u201d (Edit)\">Buy Bitcoin: Why Dollar Cost Averaging Is the Crypto Investor\u2019s Best Bet<\/a><\/strong><\/em><\/p>\n<p>He calls the upside &#8220;substantial,&#8221; citing the digital gold counterpart&#8217;s scarcity as among the many factors that could drive up the price of Bitcoin. In addition to the asset&#8217;s relative scarcity due to its hard-capped supply, Bitcoin was also designed to be deflationary, and was created to feature an event called the &#8220;halving&#8221; that further constraints supply.<\/p>\n<p>These unique factors are part of why <a href=\"https:\/\/uniquehot.com\/2019\/03\/26\/economist-bitcoin-fastest-highest-asset\/\">Bitcoin is the fastest rising asset ever<\/a>, outperforms <a href=\"https:\/\/uniquehot.com\/2019\/04\/24\/tech-stocks-gold-oil-bitcoin\/\">all other asset classes<\/a>, and<a href=\"https:\/\/uniquehot.com\/2019\/06\/07\/crypto-analyst-everyone-always-wishes-they-bought-more-bitcoin\/\"> investors always wish they bought more<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin bulls are back, and they&#8217;ve brought with them the biggest crypto bull of them all: Tom Lee. The Managing Partner and the Head of Research at Fundstrat Global Advisors has made many calls for Bitcoin price targets, but once the bear market really ramped up, he began to bite his tongue and reel in his lofty predictions. But now that bullish sentiment as enveloped the crypto market it once again, and Bitcoin inches closer to $10,000 \u2013 an important FOMO trigger \u2013 Tom Lee is back to making bold calls about the leading crypto by market cap, and believes that the digital asset will trade between $20,000 and $40,000. Tom Lee: Bitcoin Price to Trade Between $20,000 and $40,000, Upside is Substantial Like a groundhog poking its head out of a hole to check if winter is almost over, Tom Lee is once again making predictions about the future value of Bitcoin now that &#8220;crypto winter looks over.&#8221; And given his positive prediction for the crypto asset in the coming months, let&#8217;s hope he doesn&#8217;t see his shadow and cause the market to suffer through a few more weeks of bear market. Jokes aside, the Fundstrat Managing Partner and outspoken crypto bull has made some very serious claims about the prices he is targeting in the future. While speaking to Bloomberg, Lee pointed out how close the asset was to the $10,000 Bitcoin price level that would serve as an enormous FOMO trigger \u2013 and has done so effectively in the past, doubling the price of Bitcoin in a matter of days once breached. He added in a CNBC segment that Facebook&#8217;s new cryptocurrency is likely to spark renewed interest in Bitcoin. Related Reading | Majority of Crypto Investors Never Experienced Bear to Bull Transition Once $10,000 is broken above again, Lee expects a similar reaction to what occurred during the highly-publicized meteoric rise of 2017. Around Thanksgiving that year, Bitcoin passed $10,000 as families talked during family dinners. The net result was widespread retail FOMO, and the price of Bitcoin reaching its all-time high of $20,000 not even a full month later. The bubble popped, a correction and bear market ensued, and the rest was history. Now, after an 85% drawdown from peak to trough, Bitcoin is once again flirting with $10,000, and it could just as easily take Bitcoin back towards its all-time high, and according to Lee, even higher. In a quote, Lee nonchalantly suggests that Bitcoin will be trading &#8220;in the $20,000 to $40,000 range.&#8221; Such a number would double and quadruple the price per BTC from here, and would set a new all-time high for the crypto asset. Related Reading | Buy Bitcoin: Why Dollar Cost Averaging Is the Crypto Investor\u2019s Best Bet He calls the upside &#8220;substantial,&#8221; citing the digital gold counterpart&#8217;s scarcity as among the many factors that could drive up the price of Bitcoin. In addition to the asset&#8217;s relative scarcity due to its hard-capped supply, Bitcoin was also designed to be deflationary, and was created to feature an event called the &#8220;halving&#8221; that further constraints supply. These unique factors are part of why Bitcoin is the fastest rising asset ever, outperforms all other asset classes, and investors always wish they bought more.<\/p>\n","protected":false},"author":517,"featured_media":380889,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,6664,12256,15361,10667],"class_list":["post-386631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-crypto","tag-fomo","tag-fundstrat-global-advisors","tag-tom-lee"],"acf":[],"yoast_head":"\n<title>Tom Lee: Bitcoin Price Nearing FOMO Trigger, BTC To Trade Between $20K and $40K<\/title>\n<meta name=\"description\" content=\"Crypto bull Tom Lee says that Bitcoin price is close to reaching a FOMO trigger that&#039;ll drive the price per BTC to $40,000.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/tom-lee-bitcoin-price-btc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tom Lee: Bitcoin Price Nearing FOMO Trigger, BTC To Trade Between $20K and $40K\" \/>\n<meta property=\"og:description\" content=\"Crypto bull Tom Lee says that Bitcoin price is close to reaching a FOMO trigger that&#039;ll drive the price per BTC to $40,000.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/tom-lee-bitcoin-price-btc\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-19T01:00:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:44:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/bitcoin_price_btc.jpg?fit=1000%2C667\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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