Thomas Lee is a co-founder of investment firm Fundstrat Global Advisors on Wall Street. At the same time, he is the head of the company's analysis team. In a letter to his clients, Lee has now commented on the current situation of Ethereum. This was reported by Bloomberg.
Ethereum has been sold heavily this year, losing half of its value in the last three months alone.
Lee's current underperformance of two standard deviations was seen by Lee in his investor letter as an indication that the cryptocurrency is rising. So he wrote:
“Ethereum will soon reverse the trend and recover strongly. The mood is currently overly negative. “
To back it up Lee recalled moments in the past when Ethereum was also bad. He hinted that the losses were made up again and again and therefore a renewed increase is to be expected. Lee said the coin would reach $ 1,900 by the end of the year. That seems like a daring forecast, as Ethereum stood at $ 225 per coin at the time of writing. Despite this, Lee is expecting a move up 40 percent over the all-time high. According to Lee, however, such an increase is possible and expected.
Lee also assumes that Bitcoin is booming again this year. Lee saw the king of cryptocurrencies last month at $ 25,000 at the end of the year. As things stand, the Bitcoin market compares to BlackRock's ETF “iShares MSCI,” Lee said. This fund tracks the performance of an index that measures companies in emerging markets. In this regard, Lee pointed out that there is an “important correlation” between the two markets. So he explained to an interview on the CNBC television program “Trading Nation”:
“Both reached significant highs at the beginning of the year and both are showing a downtrend … until emerging markets recover, I believe this correlation will continue.”
In Lee's opinion, there is still a lot of money waiting to be invested in the crypto markets. Just wait for a bull market. Lee also repeated his positive forecast for Bitcoin at the end of the year.
This year, Thomas Lee's predictions have been less fortunate so far. For example, a few months ago he had predicted Bitcoin would rise by as much as 70 percent after the “Consensus 2018” conference. That did not happen. Rather, the Bitcoin price fell from about $ 10,000 to $ 8,000. It remains to be seen, then, how correct his current prognosis of Ethereum is.
Sources: Bloomberg, CNBC, Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/thomas-lee-ethereum-kurs-wird-eine-trendumkehr-erleben-und-stark-steigen/
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