Diverse messages in BTC price action, such as Fundstrat’s Tom Lee assume Bitcoin to be “already at the bottom”.
Bitcoin (BTC) has reserved two of its well-known proponents, but one has cooled its BTC price prediction considerably.
In an interview with CNBC on June 9, Tom Lee, co-founder of independent research firm Fundstrat, revealed that he was unsure if BTC/USD would end the year above its starting price.
Bitcoin price estimates for 2022 have declined as macro pressures have been combined with black swan events such as sending Terra impulsion sensations down to record lows.
Although many argue that in the coming months, BTC / USD will enter a capitulation event to send $ 20,000 or less, Lee believes the underlying energy is now worthy of attention.
On CNBC’s CB Overtime segment, Lee said “It’s a risk-on asset, so I think to the extent that the Nasdaq and Bitcoin rally, it’s helping us become more comfortable that the market’s already bottomed.”
Simultaneously, Lee has eliminated tensions and redundancies at large crypto companies, including the United States Exchange Coinbase, saying that Bitcoin is “acting far better than people expect.”
When asked where the BTC price action took place in early 2023, the response was less optimistic – even if the relevant stock market gained.
“I think Bitcoin’s going to make its way to flat for the year, possibly up,” he concluded.
Lee had previously been known for his bullish acceptance of Bitcoin, including the $ 200,000 forecast for 2022, following the latest all-time high of $ 69,000 last November.
Saylor on BTC: “If it’s not going to zero, it’s going to a million”
In the meantime, Michael Stiller, CEO of Microstrategy, was unnecessarily bullish, with his comments to the mainstream media strongly dismissing any suggestion of a permanent price downturn.
Those who demanded that Bitcoin would be banned or go to zero, he told CNBC on June 8, were already “discredited.”
Saylor forecast, “If the deniers are wrong and the skeptics are wrong — and it’s pretty obvious they’re both wrong at this point — it’s not going to zero, and if it’s not going to zero, it’s going to a million,”
Although nothing new, Saylor greets“very bullish on where we go from here” with a low-income outlook on risky assets across the board in a new era of growing central bank financing.
A recent report of Cointelegraph stated that some believe it will take until the next block subsidy is halved in 2024 to recover meaningful value.
Saylor, meanwhile, said there was no point in “timing the market” when it came to buying more BTC for its existing reserves.
He explained, “We’re kind of doing the equivalent of dollar-cost averaging for a large corporation.”
“We’re not trying to time the market; I think all the statistics on the S&P and on the Bitcoin index show you can’t time the market. We’re just reinvesting free cash flows in the market as circumstances allow us.”
As of June 9, BTC / USD traded at around 500 30,500, according to data from Cointelegraph Markets Pro and TradingView.
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