Thomas Lee, co-founder of Fundstrat Global, recently provided some diplomatic answers when asked to name a better option for investing between Bitcoin (BTC) and Bitcoin Cash while replying to the queries of a presenter on CNBC’s show, Fast Money. The presenter who tried to entice Lee by calling him “general,” was trying his best to extract some controversial response from Fundstrat’s CEO, but failed to do so.
There has been an ongoing debate between Bitcoin and Bitcoin Cash for some time regarding which is the best cryptocurrency for investing. Brian Kelly, a cryptocurrency fund manager, was in the spotlight a few days ago for making a statement favoring Bitcoin Cash over Bitcoin due to its “fresh entry” status. However, Thomas Lee who is expected to call for a $25,000 USD bitcoin price by the end of 2018 said, “I prefer not to pick winners and losers when we’re looking at cryptocurrencies like bitcoin/Bitcoin Cash. I think both have merits.”
According to Lee, if he were to put a fresh dollar – make a new investment, he would prefer a crawler like Bitcoin that would attract inflows instead of favoring a cryptocurrency like the No. 4 digital currency, Bitcoin Cash, which is potentially overbought. The perspective of Tom Lee towards bitcoin and almost all the other digital currencies has long been bullish. He recently predicted that by the end of 2018, BTC will be reaching new, all-time highs and that each Bitcoin will be worth $55,000 USD by 2022.
Bitcoin, Other Altcoins Gain Momentum
Though the predictions of Lee right now do not seem logical, the recent upheaval in the crypto market does suggest that the cryptocurrency market is once again picking up fast. Bitcoin took a leap of several hundred dollars per coin in only one trading day to more than $9,300. It has suddenly made the entire cryptocurrency market gain momentum as Bitcoin managed to touch this figure for the fourth time.
If the leading coin continues to hold on to this threshold and consolidate, it could possibly move past the $10,000 USD mark by the end of the week. This move could be big news for the crypto market. Also, bitcoin is not the only altcoin to perform well in the last few days. Bitcoin Cash has been leading the charts with double its value in the past two days. Other coins including Ehos, EOS and ICON have recorded gains, and surprisingly, they have gained over 10% in the past few days as compared to 3% gained by bitcoin in the same period.
Now it needs to be seen whether Lee’s advice of investing in Bitcoin proves to be correct over Kelly’s decision to prefer Bitcoin Cash.