According to the famous analyst Tom Lee quotes first cryptocurrency and the situation in emerging markets are connected. In the case that the fed will slow the pace of rising interest rates and the dollar will lose some of their positions, digital currencies and emerging markets are moving to the phase of rapid growth.
“Both markets showed strong growth early in the year, and then went to the downtrend. While the dynamics in emerging markets does not change, the correlation will remain and buyers to refrain from risks associated with bitcoin,” said he.
Lee also believes that bitcoin does still have a chance to reach a new price high to the end of the year amid the reversal in emerging markets.
Recall that Whether or not revised its past assumption about the first cryptocurrency. If earlier it predicted growth of BTC up to $25,000 by the end of this year, now Whether the said figure of $22000 is more likely.