Bitcoin Forum

The crypto market has suffered heavily over the last year, but things seem to have started looking up. Bitcoin’s price is finally rising to break the $4k resistance level, a development that many analysts say could set the crypto on course to a much higher price.

As expected, the big wigs of the crypto space have noticed the positive development, and one of these people is Tom Lee. Tom is the CEO of Fundstrat Global Advisors, and he has always been bullish about Bitcoin even during its most tumultuous days over the past year.

Bitcoin To Soar Higher

Speaking during an interview at the Blockchain Economy Istanbul Summit, Lee disclosed his optimism about the future of Bitcoin. Tom was speaking just as Bitcoin reached $3,900. According to him, the $3,900 price is just a start and Bitcoin is headed for a much higher price by the end of the year.

According to Tom, the current rise of the global markets, especially the stock market, is bound to affect Bitcoin positively. Also, the fact that the dollar is stable is good news for the Bitcoin market.

Bitcoin Doesn’t Need An ETF To Do Well This Year

Commenting on the issue of the anticipated approval of a Bitcoin ETF, Tom had a rather radical opinion. In his view, a Bitcoin ETF isn’t likely to be approved in 2019. He said that although an ETF would be good for Bitcoin, the crypto doesn’t really need an ETF to succeed in the market.

At the moment, there are two ETF applications pending review by the SEC- one by the NYSE, and another by CBOE. Over the last few months, various SEC committee members have shown some level of acceptance for the crypto industry, a development that some people have interpreted to mean that an ETF could be approved soon.

Economic Recession Could Favor Cryptos

At a time when the world economy is staring at a recession, Tom Lee thinks that scenario could actually work in Bitcoin’s advantage. In his opinion, a recession could lead more people to get interested in cryptocurrencies, a move that would increase demand and ultimately drive up the price. However, in terms of the trading volume, Tom Lee thinks that there won’t be much change.

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Source: ZyCrypto (https://zycrypto.com/tom-lee-bitcoin-will-end-2019-on-a-high-note-strikingly-much-higher-than-3900/)

Remember this guy has been known to cut down his own prediction. Last year he predicted (https://www.newsbtc.com/2018/11/17/tom-lees-big-bitcoin-price-prediction-dropped-to-15000/) that Bitcoin will end the year at the price of 25,000$ and he cut it down in November to 15,000$ which also didn't happen by the end of 2018. Now this guy's prediction is going vague as possible as all his credibility has been lost and the only way for him to be right is for Bitcoin to go above 4,000$,

True. I have an opinion that every economical educated figure sees himself as crypto expert and a person who can prognose the price. Ridiculous!

Almost (or maybe every) people who predict Bitcoin price did the same thing. I still wonder why people keep saying stuff like this and even continue to do so when nearly all of his prediction failed. Is there no credibility left?

This has being a thought to many people this year that market will be much better than 2018 and it should be and may be if some country make it legalize it it can even be better than 2017 with some more positive news follow that. It has to be better than 2018 for sure.

I agree. We could see as high as $6,700 by the end of the year at this recovery rate. It's hodling on to the dumps well so there are people buying still. Good news bulls!

ETF approval and its effect in market still give me lots of reason to think of bitcoin in 2020. While early adopters are lukewarm about it and new enthusiasts believe is a saving avenue to bring billions through institutions. Bitcoin is still in its early days of adoption and it is more reason for struggle on prediction. It is disheartening to see the slow rate of processing this ETF approval after long submission

He's right about the ETF shit,but I don't think that a major recession is coming.
Bitcoin might end 2019 with a higher price,but we don't know wether the price will be 4.5K USD or 10K USD(or something in between).

He admittedly does have some level of economical understanding, but that's concerning the legacy market/industry as a whole. The mistake he continuously makes when it comes to crypto is sticking to what happened back in 2017, and thinks it was a normal event, therefore it makes sense that Bitcoin's "fair" value should be $20,000.

Even a broken clock is right at least twice a day, but this dude has been way off with his predictions every single time in 2018/2019. I honestly can't remember anything he said related to crypto that made sense. He's better off waiting for the next bull run to initiate and then predict prices. Even the worst noob is an expert during a bull run.

Finally, Tom Lee realized that his reputation was falling just like the price of bitcoin, with only one difference: bitcoin's price could increase again in the future while Tom Lee's reputation in the crypto market will not be more the same. Other experts have disappeared, next that must give up making exaggerated forecasts is John McAfee

Only that McAfee dude is still persistent on making some exaggerated speculations.He do either tell positive or negative most of the time with BTC. When these so-called
experts do attack BTC then expected reputation and views of crypto people would be on the same way too which means losing out popularity and sooner would really be ignored.
It is much better for them to make some neutral-good feedbacks or views so community wont surely hate them.

Tom Lee is an instant bleurgh. Not only has he been utterly wrong he's also been very dull and a backtracker to boot. I'd be more interested in a psychic octopus giving their thoughts.

@gentlemand. However, he might get it right some of the time hehehe. If 2019's high note for him is anything far lower from his original $25,000 prediction for 2018 then he has become less emotional and more rational.

Oh man you really hard on Tom Lee,  ;D. But yeah, of all the perma-bulls around, only Tom has the audacity to put exorbitant price predictions eventhough obviously we all know that the price is going down and yet he chooses to ignore the signals, specially his predictions in 2018. So I don't know if we really need to 'trust' his instinct again or just totally ignore his predictions this 2019.

But who cares if a broken clock is right occasionally? What this ecosystem needs is more people with realistic views and accurate predictions based on analysis. Instead we have very polarized doom/moon opinions. To me this is a sign that even after 10 years, the ecosystem is nowhere near mature and there's still a long road ahead.

When last month I saw this:

McAfee to Lead 2020 Presidential Campaign ‘in Exile’ After Alleged IRS Indictment (https://cointelegraph.com/news/mcafee-to-lead-2020-presidential-campaign-in-exile-after-alleged-irs-indictment)


I thought: What the hell is going on with him? He is destroying the reputation of the crypto world.


FEB 10, 2019

Fundstrat Expects 2019 to Bring Incremental Improvements Supporting Higher Crypto Prices (https://cointelegraph.com/news/fundstrat-expects-2019-to-bring-incremental-improvements-supporting-higher-crypto-prices)


definitely, these "experts" need to take vacations

I propose a bit more stringent conditions for any self-proclaimed cryptocurrency analyst who continually makes claims on TV and then blows it by a margin of over 30%: execution.

You get one chance. If you blow it, you have to shut up and live in exile, forever scorned by the public and shunned by your peers. Tarred and feathered, run out of town.

If you speak on CNBC again and fail to redeem yourself, its the death penalty. There's a bounty put on your head and anybody who sees you is legally obligated to carry out your sentence.

Here's some people that should be on the list:

- John MacAfee
- Tom Lee
- Arthur Hayes
- Mike Novogratz
- the CEO of TenX (his name eludes me at the moment but he's full of shit)
- Nouriel Roubini
- Joseph Stiglitz

The price would best stay as it though so that we can all feel at easy first to what is going on, maybe for about 2 years more before they try to speculate again that it will be $1M just as Mcaffee said.  $25K is something you can really forgive. But the reality is very different. After the traumatic loss of money, I don't think we can achieve the price of $5K this year.

I am only saying that he might be more rational and less emotional today than he was when the market was on high velocity falling down. It might be an appropriate time to begin listening to him again hehehe.

No, there will never be an appropriate time.

CNBC knows better and they will start shuffling new talking heads in front of us this year.

So you're telling us that once upon a time you did listen to him? May we ask why? What has he achieved that made him worth paying attention to in the first?

Most posters here have better analysis and all of them have just as good a chance of guessing price.

@gentlemand. No, however there might be some people who might have listened to him before. In any case, I reckon his prediction for bitcoin to do better than $3900 on 2019 is rational. What about you, is it rational?

I don't really care about this year. It's going to hopefully be a transition from relelntless doom to nothingness and that's as far as my preferences go. If 2021 is a pile of poo I'll be sad.

I can remember that people were initially hyping him up, but that definitely changed after how he made himself look like a fool with his failed predictions. He shot himself in the foot, and that time on time again.

I won't take any of his predictions serious until he understands what this market is about when hype is no longer the main price driver. He will get it eventually, but it will take some time.

Being wrong each time has definitely had an impact on him and who knows, maybe he can stop being a meme and become someone who people actually value. It's hard to imagine now, but everyone deserves a second shot.

He already had a second shot when he revised his year-end estimate from $25,000 to $15,000.

https://cryptovest.com/news/fundstrats-tom-lee-sharply-downgrades-bitcoin-btc-year-end-price-prediction/

He blew it spectacularly.

No third shot.

Its incredibly obvious his agenda was to encourage his clients to invest in somebody's bitcoin fund. Maybe he succeeded for all we know.

Oh, Tommie Lee please stop trying to guess where bitcoin's going to end up at because for some reason you seem to be really bad at it. And after two bad predictions, all the 'credibility' you had (for whatever reason) is gone and no one really cares what you have to say.

Agreed. However, it is not about getting another shot, but about his outlook for 2019 and if it is rational or not.

Is it rational for you?

When we do try out to surf on prediction threads or even just average members of this forum who have knowledge into some charting their predictions is more realistic than
to these persons.I do much prefer on looking to these predictions than listening to popular person or simply have big names.For Tom Lee he would need to make some good speculation which
wont really based into hype or over optimistic.Btc price will not grow the same on its previous years and we do much prefer on gradual increase than on instant pumps.

That's not a second shot, but more like the Tom Lee we all are used to make fun of throughout 2018 and even 2019. His current prediction is more than fair and I actually agree with it.

Absolutely. It actually makes sense as well with how there isn't anything here that will prevent Bitcoin from tanking harder from where we are right now. Holding current levels or ending above $4000 is pretty decent.

People complained about $6000 being boring and low, but how low is low when we after that tank 50%? How low are current levels when we tank another 50%? People need to be happy with what they have....

It is a second shot. He had a chance to revise his estimate based on the market conditions at the time, and he blew it spectacularly.

In any case, he should be executed. At least figuratively speaking. Any time I see that guy or his name I just think "loser". So should everybody.

Tom Lee is at it again , this time with not such an agressive prediction
but this makes him boring , he is repeating himelf and it is not very entertaining to read
he is right about bitcoin not needing ETF to do well this year
but I strongly disagree that economic recession will lead to more interest in crypto and increase in price
quite the opposite, martets shrinking will lead to drop in price

I wouldn't blindly agree with a self proclaimed bitcoin price analyst, especially if his name is Tom Lee. He is known for spewing out completely bogus predictions that have absolutely no backing, simply for the sake of having attention grabbing, sensationalist headlines that attract attention.

But there are some interesting points that he makes, including the fact that bitcoin doesn't need an ETF to perform well, and that recessions may in fact lead to people viewing bitcoin as a safe haven from stocks/property.

I certainly don't expect the level of bullish activity that he may be expecting given his past predictions, but I think that it is totally reasonable to suggest markets may turn in the second half given the influx of institutional demand that we've seen throughout this bear market that the market will eventually catch up with, with or without an ETF. People don't expect an ETF to be approved any time soon anyways, and I certainly think it has always been hyped up to be more than it really is.

I would agree with Tom Lee, that this year may end up with high prices of the bitcoin and other cryptocurrencies because I expect a global economic downturn as Lee mentioned. We surpassed a big period of economic growth with low interest rates and as we know this situations go up and down like a cycle.

Is your sentiment on the market for 2019 still a transition from relentless doom to nothingness or has the big pump changed it by any means?

Well if thats the prediction then he is right already because bitcoin grows more than $4,000 now lol 😂 but this is not the issue since what we need here is the constant growth and the bull for us to profit after a so long waiting from this bearish market

But you’re right on that mate that Tom Lee has already lost his good reputation because of his falls predictions mostly

It's still too early to be happy and optimistic about this big pump. we have to see in the coming months whether the price will increase gradually or if the price will fall or if the price has stagnated at $4000 - $5500.


I do not even know if we can consider foresight what he said, anyone can say what he said, and I do not think he needed to do some analysis to say what he said


he is not the only one who has lost his reputation, everyone who made very optimistic predictions are in the same situation as Tom Lee