Bitcoin Price Predictions: Adam Back and Tom Lee Weigh In
Bitcoin Price Predictions: Adam Back and Tom Lee Weigh In
Adam Back: Bitcoin is "Cheap" Below $100,000
Adam Back, CEO of Blockstream and a prominent cypherpunk, believes Bitcoin is undervalued below $100,000. He recently agreed with Bitwise CIO Matt Hougan that Bitcoin's price will rally harder once it surpasses this threshold. Back attributes Bitcoin's current surge to economic instability, stating, "Bitcoin is rallying because they broke the economy." He predicts that once the U.S. government begins to "fix the economy," Bitcoin's rally will accelerate further. Over the past 24 hours, Bitcoin has spiked 6.5%, reaching $94,355 before slightly rebounding to $93,650.
Tom Lee Predicts Bitcoin to Hit New ATH This Year
Fundstrat's Tom Lee also shared his optimism for Bitcoin on CNBC's Squawk Box. He believes Bitcoin is poised to rally now that financial institutions have completed their deleveraging, having sold off their assets, including Bitcoin, to secure investments. Lee drew parallels to gold, which has recently hit a new all-time high of $3,500 per troy ounce. He suggested that Bitcoin could follow suit, with significant room to catch up to gold's performance. Lee's prediction aligns with growing confidence that Bitcoin could reach a new all-time high in 2023.
What is Coinefficiency?
Coinefficiency is your go-to platform for optimizing cryptocurrency trading, investments and strategies. We provide a comprehensive suite of tools to analyze market trends, monitor price movements, and execute effective trading strategies. Whether you're a seasoned trader or new to crypto, Coinefficiency helps you maximize your profits with data-driven insights.
Why Use Coinefficiency?
- Advanced market analytics to identify trading opportunities.
- Compare markets relative performance.
- Understand market cycles over time. See market levels.
- Compare buy-and-hold, portfolio rebalancing, Dollar-Cost-Averaging trading strategies.
With Coinefficiency, you can stay ahead of the market and execute efficient trading strategies effortlessly.
Get Started with Coinefficiency
Ready to optimize your crypto investments? Take control of your portfolio with cutting-edge tools designed for both beginners and experts.