Tom Lee at ChainXChange: Why ‘We’re Quite Bullish’ on Crypto
In recent months, Fundstrat’s Tom Lee has become Wall Street’s de facto point man on all things cryptocurrency. At this year’s ChainXChange conference in Las Vegas, Lee outlined why he and his team are “quite bullish” on the cryptocurrency space.
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‘We’re Quite Bullish On It,’ Says Tom Lee
In his ChainXChange keynote presentation, Lee generally honed in on three topics: Fundstrat’s optimistic projections for the cyptocurrency ecosystem, 2018’s cryptoeconomy bear market, and his process for “identifying winners and losers” in the space project-wise.
Lee also talked about his personal journey, going back to his days in 1993 where he was tracking the fledgling wireless market — a “marginally important sector” at the time, the analyst noted.
Wireless is everywhere today, but Lee saw it coming in the early days. “It really sets us up to understand what’s happening with crypto,” Lee said.
Lee Makes Waves With New Ether (ETH) Bet
In a note to Fundstrat clients on September 27th, Tom Lee argued that ether’s recent “underperformance” correlative to other big-cap cryptocurrencies suggests the crypto will soon “rally strongly.”
Indeed, it’s been a tale of two markets for ETH over the last 12 months. On the year, ether reached a high of $1,422.86 USD before sinking as low as $181.40.
As for this week, ETH has been hovering around the $220 mark with a bit of buy pressure having materialized.
This is part of a series of panels and interviews from ChainXChange coming in the next few days, so stay tuned for more talks and information by subscribing and enabling notifications for the Bitsonline YouTube channel.
Do you think Lee’s bullishness can bring other Wall Street types into the cryptoverse? Let us know in the comments section below.
Images and video via Ky Primo