Co-founder of Fundstrat Global Advisors Tom Li told the media that he preferred the purchase of Bitcoin (BTC) alternative - Bitcoin Cash (BCH), as markets strengthen the second week of profit.
Speaking to CNBC, Lee, who is well known for his bullish position towards bitcoin, said that although he would not mind "accepting the side," he would prefer to invest "new money" in bitcoin rather than in altcoyins.
Li explained:
I think that both options have their merits. But if I were investing money today, I would be much more interested in buying a lagging currency that could attract an inflow of funds, and not what is potentially overbought.
Lee's statement appeared against the backdrop of a continuing verbal skirmish between bitcoin and Bitcoin Cash supporters.
When asked why BCH managed to achieve significant successes in the previous days, Lee said he believes that the Bitcoin Cash's hard-core network is part of the cash flow motivation. CNBC host Brian Kelly, who recently spoke about investing in Bitcoin Cash, also added that it "is somehow connected with improving sentiment in the market."
Nevertheless, Lee continues to defend his position vis-à-vis a brighter future for bitcoin. He referred in an interview to the fact that a poll conducted this week by various financial companies showed that more than 80% believe that the decline in prices in the I quarter of 2018 ended.
Thomas Lee writes:
CRYPTO: We took a small group of institutional investors in 4/23, among which were crypto and traditional macro [companies] interested in shopping. The results are below. Key institutions believe that # BTC pushed off from the bottom. We see this as a leading indicator of the influx of big money in Crypto.
According to the data provided by Lee, by the end of the year, most respondents believe that BTC / USD will be at the end of 2018 between $ 10,000 and $ 20,000.
Speaking to CNBC, Lee, who is well known for his bullish position towards bitcoin, said that although he would not mind "accepting the side," he would prefer to invest "new money" in bitcoin rather than in altcoyins.
Li explained:
I think that both options have their merits. But if I were investing money today, I would be much more interested in buying a lagging currency that could attract an inflow of funds, and not what is potentially overbought.
Lee's statement appeared against the backdrop of a continuing verbal skirmish between bitcoin and Bitcoin Cash supporters.
When asked why BCH managed to achieve significant successes in the previous days, Lee said he believes that the Bitcoin Cash's hard-core network is part of the cash flow motivation. CNBC host Brian Kelly, who recently spoke about investing in Bitcoin Cash, also added that it "is somehow connected with improving sentiment in the market."
Nevertheless, Lee continues to defend his position vis-à-vis a brighter future for bitcoin. He referred in an interview to the fact that a poll conducted this week by various financial companies showed that more than 80% believe that the decline in prices in the I quarter of 2018 ended.
Thomas Lee writes:
CRYPTO: We took a small group of institutional investors in 4/23, among which were crypto and traditional macro [companies] interested in shopping. The results are below. Key institutions believe that # BTC pushed off from the bottom. We see this as a leading indicator of the influx of big money in Crypto.
According to the data provided by Lee, by the end of the year, most respondents believe that BTC / USD will be at the end of 2018 between $ 10,000 and $ 20,000.
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