Tom Lee's Fundstrat Warns of Big Bitcoin Sell-Off !!!

[tokyohd]

Tom Lee's Fundstrat Global Advisors told CNBC that it is expecting another major Bitcoin sell-off to take place in the near future.
 
The New York-based independent research boutique believes that this will be the final "washout" before more buying opportunities emerge.

Fundstrat believes that the largest cryptocurrency could briefly drop below its June low.

The Bitcoin price plunged to as low as $17,592 on June 18, which marked the cryptocurrency's lowest price point since December 2020. While this marked at least a short-term bottom, bulls only managed to pull off a modest recovery.

Earlier today, the top cryptocurrency once again slipped below the pivotal $20,000 level.

As reported by U.Today, FS Investments Chief Market Strategist Troy Gayesk recently predicted that risk assets such as Bitcoin might head much lower if the head gets serious about shrinking the balance sheet.

Lee, a well-known permabull, has a history of terribly wrong price predictions. In December, he insisted that Bitcoin could still hit $200,000 in a CNBC interview despite missing his 2021 target.

In April, Lee opined that Bitcoin was not "speculative" enough.

Details: https://u.today/tom-lees-fundstrat-warns-of-big-bitcoin-sell-off

[dragonvslinux]

Lee, a well-known permabull, has a history of terribly wrong price predictions. In December, he insisted that Bitcoin could still hit $200,000 in a CNBC interview despite missing his 2021 target.

I think this line sums up the article, his predictions have always been awful, so why bother listening to him now? Funny to see how many perma-bulls are only just turning bearish now Bitcoin is at $20K 

If there was ever a decent buy signal it's perma-bulls who are only ever bearish for a few months at the lows...

[bitbollo]

these experts who predict the market trend very often waste their time.
they can get a prediction right and then get it wrong xx in a row. I would not give all this weight/importance ... from a speculative point of view HODL is really difficult and it may seem like a waste of resources, since you don't get interest and you lose a lot of small movements.
But in the end it is the best strategy for those who want to see certain results, probably this is the real key for earning with bitcoin!

[naira]

Lee, a well-known permabull, has a history of terribly wrong price predictions. In December, he insisted that Bitcoin could still hit $200,000 in a CNBC interview despite missing his 2021 target.

It's simple, if he's always wrong and actually causes a stir even with a few wrong predictions, why should CNBC hear this kind of news? isn't this just a waste of time. Maybe that's what search engines say he's a Wall Street strategist, so I know why CNBC is opening up so much room to cause a stir in the Bitcoin market.

[edgycorner]

In April, Lee opined that Bitcoin was not "speculative" enough.

What does he mean by this? Bitcoin has turned into a memestock in the recent market. It's just another speculative stock now.

Tom lee has been a good guy for bitcoin. I wouldn't disregard his opinion. Obviously, he knows a lot more about the market and its functioning than any of us here.  Maybe he's right 

[jackg]

these experts who predict the market trend very often waste their time.

Most of the time the market settles between the two extremes too. At $3-6k in 2019, a low of $1.3k was still being touted as the bottom (even though we never went there).

It's simple, if he's always wrong and actually causes a stir even with a few wrong predictions, why should CNBC hear this kind of news? isn't this just a waste of time. Maybe that's what search engines say he's a Wall Street strategist, so I know why CNBC is opening up so much room to cause a stir in the Bitcoin market.

CNBC used to seem anti bitcoin from the news reports i saw (unless those were just the ones that stirred up a reaction from people) they're probably just back to doing that again to get more of an audience.

[Hamphser]

In April, Lee opined that Bitcoin was not "speculative" enough.

What does he mean by this? Bitcoin has turned into a memestock in the recent market. It's just another speculative stock now.

Tom lee has been a good guy for bitcoin. I wouldn't disregard his opinion. Obviously, he knows a lot more about the market and its functioning than any of us here.  Maybe he's right 

If it wasnt speculative then they would really be able to handle it out in terms of future prices which is something i dont really believed on.Its not bad to believe or follow some professionals or known person in terms

of economic or investment or something in related but you should mind off on not to rely that on every words that they do spoke is something that you would definitely be believing and make out some decisions
basing into that.You cant really just know if that was strategic bluff and shills or fuds just to make the community do made out such reaction.

Sell-off or not, there's no one could able to predict on what would happen in the future.It all matters on the community that circling around which do really dictates in overall
market movement.

[TravelMug]

Lol, how many times this Tom Lee predicted it wrong?

And we have to understand what his intention from behind, maybe he wants to see the price goes down hard with his announcement so that him and his clients can buy cheap bitcoin again.

But I wouldn't bet on it, again Tom Lee doesn't make good prediction, he is just a speculator just like you and me, so take everything with a grain of salt.

[davis196]

Lee, a well-known permabull, has a history of terribly wrong price predictions. In December, he insisted that Bitcoin could still hit $200,000 in a CNBC interview despite missing his 2021 target.

This is the most important part of the article. Just read this sentence and stop reading afterwards.
It's a crypto winter, of course that there will be multiple price drops and the possibility of the BTC price hitting 10K USD in the upcoming months in still there. Should we be worried? Nope.
Just don't expect a price recovery until the next BTC halving and you will be fine. The big central banks will increase the interest rates, but this will be temporary, because somebody has to cover all those giant budget deficits in the western world. The money printing machine will always go brrrr... so crypto will face another  big bull run after 2 years. Fear dominating over greed is just temporary on the markets.
The markets will get used to the war in Ukraine(which isn't going to end anytime soon).

[Don Pedro Dinero]

Lee, a well-known permabull, has a history of terribly wrong price predictions. In December, he insisted that Bitcoin could still hit $200,000 in a CNBC interview despite missing his 2021 target.

I think this line sums up the article, his predictions have always been awful, so why bother listening to him now? Funny to see how many perma-bulls are only just turning bearish now Bitcoin is at $20K 

Yes, this is a sign that either we have reached the bottom or we will not fall much further down. In the same way that last year the predictions were increasingly bullish, now it looks like a game of who can give the worst prediction.

This man, as he never stops making predictions, at some point he will get something right, but it won't be because of his predictive abilities, but rather by chance. Even a stopped clock tells the correct time twice a day.

[mk4]

> BTC is down 70% from the peak
> we're in a risk-off environment
> in an environment where a worse recession is possible
> Fundstrat expects further downside

Gee, thanks Fundstrat. No one is expecting further downside, I'm sure.

[2stout]

And if this is the case, we may see a slight dip but the support will be there buy the dip and fill some bags.  I'm sure many are waiting to pounce on the opportunity, which is why even if this happens, IMHO, I don't think we'll see a dramatic drop in price.

[avikz]

A market facilitates two way transactions. When someone is selling, someone else is buying. Otherwise the trade won't go through. That means there's a demand in the market. So we should not focus on such events whether a big sell off is coming or not. Let that happen and that will present one more opportunity for us to buy bitcoin at a deeply discounted price. So that's fine! Let's not panic based on someone's speculation.

[lionheart78]

A market facilitates two way transactions. When someone is selling, someone else is buying. Otherwise the trade won't go through. That means there's a demand in the market. So we should not focus on such events whether a big sell off is coming or not. Let that happen and that will present one more opportunity for us to buy bitcoin at a deeply discounted price. So that's fine! Let's not panic based on someone's speculation.

And another thing, when someone is Fud'ing, someone is planning to buy a huge chunk and wanted it as low as possible.  Yes let's just watch and see how they effort to pull down the price of BTC, let them do the work, and when they successfully pull down the BTC price, let us ride the wave of buying BTC at a bigger discount.

[darkangel11]

I remember Tom back from 2018 when he first predicted Bitcoin to go to to 30k after reaching 20k, but it stopped at 20k and then when we fell to 10k he predicted that we'd have another ATH the same year and bitcoin will go back and past 20k, we never even went back to 20 that year...
I'm pretty sure since 2018 Tom hasn't made a single accurate prediction which shows who we're talking about.

If you value your funds, avoid fundstrat, unless your "strat" is to lose it all trading with Tom Lee.

[coolcoinz]

A selloff may happen or it may not happen. It all depends on how many whales will bankrupt on stocks and feel the need to cover their losses by selling bitcoins. Tom cannot predict that because there are no technical indicators showing that someone will dump coins on the market or not. He's taking these predictions out of his ass and that's why they are never any good.

Note that he used to give exact numbers like Bitcoin to 50k in 2018 and now he's back to generalizing about downside risk. Downside risk in a bear market... no shit Sherlock!

Maybe I'll become an analyst at Fundstrat? I'll be telling them that bitcoin will go higher once we're above the 50 week MA and I'll warn about downside hen we go below it. I wonder how much an analyst makes these days

[FlamingFingers]

Out of how many predictions that he had predicted wrong, he just got this right for the first time, if he is sure he would have predicted the exact figures that bitcoin will bottom at, a lot of them are just guessing, the real whales who has an insider information about either bitcoin dumping or pumping will not give out the information just like that, Lee was just mere lucky his prediction was right this time around

[Zlantann]

I remember Tom back from 2018 when he first predicted Bitcoin to go to to 30k after reaching 20k, but it stopped at 20k and then when we fell to 10k he predicted that we'd have another ATH the same year and bitcoin will go back and past 20k, we never even went back to 20 that year...
I'm pretty sure since 2018 Tom hasn't made a single accurate prediction which shows who we're talking about.

If you value your funds, avoid fundstrat, unless your "strat" is to lose it all trading with Tom Lee.

Sometimes I keep wondering how and where do they get proofs to support these there doomsday predictions. My challenge is that sometimes these predictions by these Bitcoin "prophets" instill fear and skepticism in new investors making them to sell off there investments. I have decided to stop listing to these set of persons regardless of their credential, experience or past support for Bitcoin and focus on the outcome of the market per time. Most of them have hidden agenda that are most times selfish and against the interest of other investors.  

[ultiex]

I don't believe in predictions, I think it's better to do the opposite or judge from a broader perspective, when there is so much bad news you understand that the market is correcting. If it was a top before then you realize a long-term downtrend is coming, watch and stop investing

[Bambozled]

Imo, these kinds of predictions sometimes are made so as to create an environment that suggests that everyone is selling and let me sell too. This might not bring the value of bitcoin further down.
There is an another statement by Duetshe bank that the value of bitcoin will rise uptp $ 25K by the end of this financial year.
This creates a confusion whether to sell or buy. I’d suggest better to HODL.