Tom Lee Shared 2021 Bitcoin Price Prediction

Tom Lee shared his 2021 Bitcoin price prediction. Lee said the weakening US dollar would support Bitcoin.

Fundstrat analyst and manager Tom Lee said in an interview with CNBC that Bitcoin's main strait run began in 2021. Stating that the weakening US dollar will support Bitcoin's price increase, Lee continued his words as follows: “First of all, Bitcoin has to be expressed with something. So if the US dollar weakens, Bitcoin rises. But the more important effect is that we've seen a lot of central bank liquidity this year. The US dollar was surprisingly really strong for most of the year, but now its weakness will cause people to wonder. Many people think of gold as a storage of value and I think only one of them still has a reasonable basis for being gold in the long term. But I think for younger people and those in the digital generation, Bitcoin is the main asset.” Tom Lee, who predicts that the leading cryptocurrency Bitcoin (BTC) will grow by 300 percent in 2021, warns about the correlation of Bitcoin with stocks that if the stock markets improve, BTC will lose value. Lee said, “We should not forget that the conservative base of Bitcoin is still small. I don't think there are more than a million real people who owns Bitcoin compared to about a billion people with other financial instruments. So it's very small, one-thousandth of where there should be penetration." Lee continued his words as follows: “I think if there is a correction in stocks, Bitcoin is likely to fall, and this may be because most incremental buyers (if they are in the US) are using leverage or as a reason to increase their appetite to take risks. Bitcoin is therefore actually should be falling as stocks fall.”       Source: Investing.com