If you want to find out when the collapse of Bitcoin is over, you may want to look at the emerging markets.
The iShares MSCI Emerging Markets Index ETF has dropped by around 8 percent this year. It is painful, but not as much as the epic bitcoin sale.
Bitcoin's chilling frenzy came to a halt after a record time of $ 20,000 last December. Since then, the cryptocurrency has dropped by 65 percent. It is now traded in the $ 6000s since 8 August.
Lee claims that hedge funds do not buy a risk when emerging markets sell. Recent trade suggests that they also do not buy Bitcoin.
But that bearish trend could almost end.
Lee, who owns bitcoin and belongs to the biggest bulls on Wall Street, sees the tide change in favor of both areas of the market – especially as the dollar weakens and the Federal Reserve slows the rate hike policy. He also points out that there is a lot of money and firepower on the sidelines in the cryptocurrency space.
These factors can help Bitcoin fluctuate to $ 25,000, while 2018 falls down, according to Lee.
"I still think it's possible," Lee said. "Bitcoin could end the year explosively higher."
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