Cryptocurrencies
Crypto Bull Tom Lee Owns Up After Bitcoin Prediction Goes Awry
- Fundstrat had forecast Bitcoin rally during NYC conference
- Instead, cryptocurrencies dropped 10 percent in the past week
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It’s pretty difficult to accurately predict what the price of just about anything is going to do in a week’s time, let alone a in month or a year. It’s also tough to admit you’re wrong. One researcher may deserve some credit for owning up after his latest Bitcoin forecast failed to pan out.
Thomas Lee, head of research at Fundstrat Global Advisors, predicted on May 7 that Bitcoin would rally during Consensus, the cryptocurrency conference this week that drew thousands of enthusiasts (and some Lamborghinis) to a packed hotel in Midtown Manhattan.