Bitcoin (BTC) holds two of its most popular advisors, but its BTC price projections have dropped significantly.
In an interview with CNBC on June 9, Tom Lee, co – founder of independent research firm Fundstrat, said. nocht he was not sure if the year end BTC / USD pair would be above its starting price.
Lee points out ‘market already hit’
Bitcoin price projections crash for 2022 as macro pressures come with events like the black swans like the Terra rumble to put sentiment near the highest highs ever.
While many argue that a capitation event will take place in the coming months to launch the BTC / USD pair to $ 20,000 or less, Lee believes that the underlying strength is now worth paying attention to.
“It’s a risky asset, so I think that, as long as the Nasdaq and bitcoin rally, it helps us to be more comfortable with the idea that the market is on the low base,” he told a program CNBC CB overtime.
At the same time, Lee swept off the Terra debacle and layoffs at major cryptocurrency companies, including US exchange Coinbase, saying bitcoin was “behaving much better than people expected.”
When asked where the price of BTC is heading by the beginning of 2023, even if related stock markets see gains, the answer was less optimistic.
“I think bitcoin will work its fair way for the year, maybe to the other side,” he said.
Lee was previously known for his bullish positions in bitcoin, including a $ 200,000 forecast for 2022 made shortly after the latest high of $ 69,000 last November.
Saylor on BTC: “If it does not go down to zero, it will go to a million”
Meanwhile, Michael Saylor, CEO of MicroStrategy, whose own views for the mainstream media have firmly undermined any suggestion of lasting price reductions, said he was confident he was expecting it.
Read also: BTC Price Gains 4% Before Fed Intervention as MicroStrategy Promises to Protect Bitcoin from $ 21,000 Report
Those who demanded that bitcoin be banned or drop to zero, he declared to CNBC on June 8, having already been “discredited”.
“If the Holocaust deniers are wrong and the skeptics are wrong, and it is pretty clear that they are both wrong at this point, it will not fall to zero, and if it does not come to zero, it will go to to zero. million, ”predicted Saylor.
While not new, Saylor is “very optimistic about the direction we are going” in tackling the pessimistic view of risk assets in the new era of monetary tightening.
As Cointelegraph recently reported, some people believe it will take until the next block semi-subsidy in 2024 to begin a meaningful price recovery.
Saylor said, meanwhile, when it comes to buying more BTC for its existing reserves, there is no point in trying to “mislead the market.”
“We make the equivalent of the scheduled investment for a large company,” he explained:
“We do not want to confuse the market; I think all the statistics on the S&P and the bitcoin index show that you can not confuse the market. All we have to do is reinvest free cash flow in the market when circumstances allow. »
The BTC / USD pair was trading at around $ 30,500 at the time of writing this June 9 report, according to data from Cointelegraph Markets Pro and TradingView.
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