Tom Lee who has shown his unwavering support for cryptocurrencies, specially Bitcoin, with his number of bitcoin price predictions, is still hell bent on the Bitcoin price touching $25,000 even after a low week for Bitcoin, which plunged below $8,000 and traded at around $7,500, essentially giving up most of the gains bitcoin had managed to make from mid-April to early May after hitting 2018 lows.
Wall Street Strategist, Tom Lee Predicts Bitcoin Price To Touch $25,000
Lee believes that the bitcoin price volatility is not the only factor to be taken into account. He believes there are mainly three causes of the dips that the bitcoin price has been taking:
- The first is the cost of producing and replicating bitcoin. When bitcoin was trading at around $8,000 on Tuesday, Lee appeared on Us publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.
