Fundstrat Global Advisors' head of research Tom Lee says Bitcoin falling to $9,000 levels as the biggest buying opportunity this year, and that they would be buyers too
In a client note published on Thursday, Lee sees the current depressed levels in Bitcoin as offering a buying opportunity for bulls to increase exposure.
He noted that since mid-2016 there have been rallies of more than 75% following sell-offs of more than 25%, explained through this:
He adds that "what happens in years in equity markets is months in the crypto world".
Over the longer-term, he says the total value of the crypto market cap to exceed $1.2 trillion - with millennials being they key demographic in driving the adoption of blockchain.
I guess he must be basking in his winnings by now. Bitcoin currently is at $11,748 on Coinbase's GDAX exchange, a little higher on the day by 1.5%.
