In an interview with CNBC, Fundstrat’s Tom Lee predicted that Bitcoin could triple in 2021:

“I think there will be a lot of things in round numbers like 2021, 2017. This means that Bitcoin will move better in 2021 than in 2020. In other words, there will be an increase of over 300 percent. “

Weakening dollar

Lee added that the interaction between the weak dollar and stronger Bitcoin was part of his thesis, and that younger generations now see the flagship cryptocurrency as an alternative to gold.

Before Lee, Brian Kelly, a CNBC participant and hedge fund manager, also talked about the depreciation of the dollar:

“This coincides with the exact environment where Bitcoin was designed and created. Every central bank in the world prints money. No central bank wants a strong currency. “

 

Bitcoin rises to $ 30,000

The cryptocurrency reached its all-time high of $ 29,300 on the Bitstamp exchange at 0:55 UTC. Meanwhile, CME’s futures are traded at $ 29,700.

The cryptocurrency has experienced such a massive rally in 2020 that JP Morgan will likely have to resize its chart as Bitcoin completely dwarfed all other assets.

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