Investment consultant Michael Lee predicts that bitcoin will hit new highs “before we see a cut or restrictive policy from the Fed.”
In an interview with Fox Business Monday, Michael Lee said that Bitcoin’s price of $ 60,000 earlier this year is “a side effect of printing money endlessly.” He dismissed the theory that BTC’s rise on Monday was fueled by rumors that Amazon could accept bitcoins and other cryptocurrencies for payments. As a reminder, last week the e-commerce giant posted a job posting in search of a leader in digital currency and blockchain.
Lee said “there are better days ahead for cryptocurrencies, Bitcoin in particular.” He believes that “Bitcoin is a trailblazer” and “will bring the same or more profits as any other cryptocurrency.”
In assessing how the number one cryptocurrency has supported the short-term upward rally, Lee noted that Bitcoin is a dynamic asset. Bitcoin’s rise in a week proves that the asset has better days ahead.
“I think some of these steps are difficult to explain, but this is a very important asset class. So, once you get a little boost, subsequent trades will keep coming and coming and coming. And then you suddenly jump from $ 29,000 to nearly $ 40,000 in a little over a week, ”Lee said.
While Bitcoin has faced reprisals from some jurisdictions in recent weeks, Lee noted that he does not foresee any restrictive policies, especially from the US Federal Reserve.
“This is why I think Bitcoin will hit new highs. Maybe not now or in the next few months, but Bitcoin’s best days are definitely ahead, not behind. ”
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