Fundstrat’s Lee sees a crypto comeback once precious metals cool — TradingView News
Fundstrat managing partner Tom Lee predicts that crypto markets will likely catch up once gold and silver begin to take a break from their recent rallies.
Tom Lee said on CNBC’s Power Lunch on Monday that crypto should be going up on a weaker dollar and an easing Federal Reserve.
However, it doesn’t have the leverage tailwind because the industry delevered, “and as long as gold and silver are rising, then there’s a FOMO into buying that instead of crypto,” he said.
“Because when gold and silver take a break, then and in the past, that would lead to a Bitcoin and Ethereum surge afterwards.”
Gold prices hit an all-time high of $5,100 on Monday, following a gain of 17.5% since the beginning of the year. Silver also skyrocketed,…
