Hey ninjas, how’s the trading going? The largest and most popular cryptocurrency Bitcoin as well as a hand full of the top 20 cryptocurrencies are reporting gains in the last 24 hours. BTC is up 2.12% on the day and is trading at $9,889 at press time. Ethereum is up 1.47% and is trading at $182, Litecoin and EOS are up 2.34% and 1.36% and are trading at $74 and $3.51 respectively.
Fundstrat Global Advisors senior analyst Tom Lee seems to have a great deal of confidence for Bitcoin (BTC). In an interview with Fox Business Channel on the 15th of August, Lee was asked directly is Bitcoin is a Genuine “safe haven”. He replied “yes” saying that the markets are proof, he stated that in times of “Turmoil” the price of BTC tend to surge and trade at a premium, and he explained that this is because people are trying to protect their money.
He further explained that Bitcoin has had a very good year and reminded the audience of its price last year December, according to Lee, Bitcoin traded at $3,000 and has since risen to $10,000-$12,000 levels. He also stated that he believes Bitcoin price will be much higher at the end of the year.