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Tom Lee: The Value of “Resilient” Bitcoin will Attain $ 25000 {Eventually}

The Fundstrat Global Advisors founder’s latest dish of humble pie was served up courtesy of Stuart Varney, who interviewed Lee last Friday for the Fox Business Network.

The Wall Street strategist who predicted that the bitcoin price would hit $25,000 by the end of 2018 and must now reckon with the result of that forecast every time he goes back on television.

The past 12 months haven’t been easy for any bitcoin bull, but perhaps no cryptocurrency proponent has had a worse time than Tom Lee.

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“Bitcoin has had 70 percent pullbacks four times already in its 10-year history, and it has recovered to new all-time highs every time. So to me, it’s resilient.”

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He continued:

Especially driven by millennials, and outside the US, there’s an interest in a digital currency, digital asset store of value that’s not traditional money.

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To Lee’s point, bitcoin has outperformed the wider cryptocurrency market by a notable margin, just not nearly to the extent that Fundstrat predicted.

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But while Lee continues to stick by his bullish take on bitcoin, even as the market turns more and more bearish, Stuart Varney isn’t buying it.

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