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Crypto Expert Tom Lee Hints At Possible Bitcoin Price Correction But BTC Keeps Growing

  • Yuri Molchan
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    Prominent Bitcoin bull, Tom Lee from Fundstrat, shares data from his company’s analyst that promises a retracement soon, however, Bitcoin is still in the green


Crypto Expert Tom Lee Hints At Possible Bitcoin Price Correction But BTC Keeps Growing

Today, on June 25, Fundstrat’s co-founder Thomas Lee has tweeted some data shared by his company’s analyst Robert Sluymer – the Bitcoin price charts are showing a ‘double top’ pattern.

Technical analysts believe this pattern to be a reversal one.

Last week, Tom Lee also said that his trading target for Bitcoin would be $10,200 and then he would sell.

Current Bitcoin market stance

At the time of writing this, Bitcoin is trading at $11,339, showing a rise of 4.76 percent. On Friday evening last week, Bitcoin price got over the $10,000 level and floated around $10,700 since then.

Experts believe that the major reason for the BTC growth recently is the launch of Libra coin promised by Facebook social media giant.

The coin is pegged to fiat and has such behemoths as Uber, PayPal, Visa and others among its investors.

Previously, Tom Lee and Tyler Winklevoss, one of the ‘crypto twins’ and a co-founder of the Gemini exchange, expressed a view that after breaking through $10,000 Bitcoin price would easily reach $15,000 fueled by FOMO that is getting stronger in the market.

Cover image via 123rf.com
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About the author

Yuri entered the crypto sphere at the BTC price peak in 2017, quickly turning into a crypto enthusiast. He has written for several media, covering everything from TA to ICOs and crypto regulations. Presently is a news writer, working with crypto and blockchain-related topics.

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