Bitcoin News: Tom Lee, Managing Partner and Head of Research at Fundstrat Global Advisors, an enthusiastic Bitcoin bull, raised the Bitcoin price target from $ 100,000 to $ 125,000 despite Elon Musk’s weird statement recently. Citing environmental concerns, Musk closed the Bitcoin payment gateway for Tesla cars.
The bad environmental impact claims certainly surprised many, given that Musk himself is a big proponent of clean energy and that the mining power of the Bitcoin network comes from a clean energy source.
In an interview, Lee said that Musk’s latest comment on Bitcoin could be the result of pressure from investors. He added that Musk’s recent comeback will not have much of an impact on Bitcoin bulls and that the top cryptocurrency will continue to rise. He also increased his price target of $ 25,000 to prove his point.
“I don’t think it will negatively impact people on Bitcoin, but it will enable people to focus on the problems created by digital assets. It is probably better to see this as more efficient ways for the Bitcoin industry to focus on renewable energies rather than PoS or PoW. “
Lee is among the few Bitcoin advocates who argue that the top cryptocurrency will surpass $ 100,000.
On May 12, the Bitcoin price dropped nearly 15% after Musk announced Tesla’s decision to stop accepting Bitcoin payments. Many believed the market correction was potentially triggered by Musk’s comments, but data on the blockchain suggests otherwise. Bitcoin inflow in exchanges rose significantly just before Musk’s comments, which is a bearish trend indicator and a sell indicator.
Musk has been aggressively supporting Dogecoin ever since.