Mark Twain once quipped that, “History doesn’t repeat but it sure does rhyme.” Fundstrat Global Advisors’ managing partner Tom Lee believes that the price of Bitcoin could soar as much as 70% this month if history does indeed rhyme with previous years.
What would be the spark that ignites such a monstrous rally? It is simply a function of exposure and enthusiasm that stems from one of the largest cryptocurrency conferences in the world:
“Already one of the largest crypto conferences in the world, attendance this year is up dramatically and coming at a time when Bitcoin/Crypto is down YTD. Hence, we expect the Consensus rally to be even larger than past years,” said Lee.
According to Lee, the prior Consensus rallies have yielded gains between 10% and 70%, meaning if this year does outdo the previous, bitcoin could surge back above $15,000.