Tom Lee, co-founder of Fundstrat Global Advisors, known for his bold predictions for Bitcoin, commented on the cryptocurrency's sharp decline. He shared his views on Bitcoin's short-term and long-term prospects.
Short-Term Predictions
Tom Lee mentioned that Bitcoin will be weak in the near term, attributing the recent decline to market liquidation over the weekend.
I still think Bitcoin will be one of the best performing asset classes this year.Tom Lee
Long-Term Expectations
Lee believes that despite the short-term challenges, Bitcoin will remain a strong asset and highlighted its long-term potential as an investment.
Warnings and Opportunities
The expert warned that Bitcoin's price might drop to $70,000 in February, presenting a good buying opportunity upon recovery.
So I would say February doesn't look good for Bitcoin in the near term and it could drop to $70,000.Tom Lee
In conclusion, Tom Lee emphasized potential opportunities for investors in the long run despite short-term risks.
