Tom Lee: Bitcoin on Track to Reach New All-Time High This Year, Ethereum Will Outperform Bitcoin

BlockBeats News, January 18th, BitMine Chairman and Fundstrat co-founder Tom Lee said in an interview with CNBC, "From the overall market perspective, I think the first five trading days of January's rise is good news. This is a very good sign for the whole year, and it gives us greater upside potential for the S&P 500 to reach 7700 points."

"The volatility in the financial sector, overall market, and crypto market in the past few days partially reflects the impact of policy factors. Washington is trying to limit credit card rates, and if this policy is implemented, I think it will have an impact on the financial industry as it will weaken the ability of financial institutions to provide credit to a diverse set of consumers."

"At the same time, the progress of the 'Clarity Act' is very bullish news for the crypto industry. The crypto market suffered a heavy blow in October last year, so we believe that as time goes on and we gradually move away from the impact point, the market will experience a significant recovery."

"Therefore, we are bullish on Bitcoin. We believe that Bitcoin is likely to hit a new all-time high this year; at the same time, our attitude towards Ethereum may be more positive, and we expect Ethereum to outperform Bitcoin."