Senior analyst at market strategy and sector Analysis CompanyFundstrat Global Advisors Tom Lee is assured that Bitcoin (BTC) became a real safe haven for investors.

When asked directly “whether Bitcoin is a real safe haven” throughout an interview on the Fox Business channel on August. 15, Lee confirmed his position:

“Yes. You’ll see it in markets. where there’s turmoil, the local Bitcoin costs tend to surge and trade at a premium, as individuals are attempting to seek out ways that to guard their money. So yes.”

Bitcoin may be a smart diversification hedge

Lee additionally added that Bitcoin has “done very well this year,” reminding the audience that last Dec its price hovered around $3,000, and since then rose to the $10,000–12,000 levels. The Fundstrat analyst additionally noted that Bitcoin is “really uncorrelated to equities, to bonds, thus it’s a decent diversification hedge.”

According to Lee, presently Bitcoin “is simply resting”, and may show a major rise in its price by the end of 2019. The analyst added:

“I suppose it’s going to be much higher by the end of the year, and probably at a new incomparable high. I believe anyone who needs to own a 2 or 1 Chronicles allocation to Bitcoin as a hedge against plenty of things that would fail — it’s a smart bet.”

Crypto community hopes for the higher

Previously, Top Market Group revealed a report concerning the 3 main reasons Bitcoin is turning into a global safe haven for investors.

Ether (ETH) is additionally possible to trade higher than $1,000 again in the future, per the global cryptocurrency Twitter community.

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