Tom Lee: Investors Seek Rescue from Global Risks in Bitcoin Co-founder of Fundstrat Global Advisors Tom Lee saw market dynamics on Monday confirm his theory that Bitcoin is a hedge against global risks amid the Sino-US conflict and currency war.

Tom Lee: Investors Seek Rescue From Global Risks In Bitcoin

Fundstrat Global Advisors co-founder Tom Lee saw market dynamics on Monday confirm his theory that Bitcoin is a hedge against global risk amid the Sino-US conflict and currency war.

"Bitcoin in this year did something very interesting, - he said in a conversation with CNBC. - IN for two in recent years, it has been correlated with the dollar. Weak dollar has become a positive factor for bitcoins. And it correlated with market risk. This year it deviated from the dollar because the dollar was strong, bitcoin was growing - a real turning point. Correlation with stock markets turned negative ".

Lee also noted that Bitcoin is showing "positive correlation with gold" and has shown "itself as a hedge against global risks this year.".

As an additional factor in the rise in the price of bitcoin, Lee pointed to the end of the so-called "crypto winter": “I believe that this makes cryptocurrency an authentic source of diversification for institutions. I think this will help us climb to new highs. ".

In May, Lee named 13 signs of the end of the "crypto-winter", indicating, among other things, an increase in overpayment on securities Grayscale BTC investment trust, increased OTC trading volumes and various technical indicators.

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