Market Strategist Says Bitcoin’s Best Days Are Ahead, Won’t See Restrictive Fed Policy Anytime Soon
” The founder of Michael Lee Strategy, the investment management firm, further states that we will not see “any taper or any restrictive policy from the Fed” or other central banks across the world for a long time.
Market Strategist Says Bitcoin’s Best Days are Ahead
The founder of investment management firm Michael Lee Strategy, Michael Lee, recently interviewed Fox Business to share his perspective on bitcoin.
Investment management and wealth planning are among the services offered by Michael Lee Strategy as an investment advisor representative through Compass Financial. Before founding the investment management firm, Michael Lee worked as a vice president in the Institutional Middle Markets group at Morgan Stanley.
Michael Lee considers the fact that bitcoin’s price hit $60,000 at the beginning of this year as “just a side effect of endless money printing that’s going on.” He disagrees with the theory that the recent increase in bitcoin’s price is a consequence of the rumor about Amazon. The most recent claim is that Amazon may start accepting cryptocurrencies, including bitcoin, for payments. The source of the story has been a recent job posting by the e-commerce giant that seeks a digital currency and blockchain lead.
Michael Lee claimed that “the best days are ahead for cryptocurrencies, specifically bitcoin.” He notes that “bitcoin is your first mover” and believes that the world’s number one cryptocurrency is “going to profit as much as any of the other cryptocurrencies.”
He continues his remarks by saying that “I think it’s hard to explain some of these moves, but it’s a very much a momentum asset class […] So, as soon as you get a little bit of momentum to the upside, the follow-on trades keep coming and coming and coming. And then, all of a sudden, you go from $29,000 to almost $40,000 in the span of a little over a week.”
Financial services expert Michael Lee declares that he is also a bitcoin owner and expresses his opinions as such: “I think it’s a long time before we see any taper or any restrictive policy from the Fed.” However, he also emphasizes that “it’s not only like that with the Fed, but it is also like that with central banks worldwide.”
The award-winning financial strategist concluded his remarks as such:
“That’s why I think bitcoin is likely to make all-time new highs, maybe, maybe not in the next few months. But the best days of bitcoin are definitely ahead of it, not behind it.”
What do you think about Lee’s claim that bitcoin makes all-time new highs and its greatest days are to come? Do you agree with that? Please share your opinion in the comment section and visit our blog for more crypto-related content!