Poor macroeconomic conditions will not persist in 2023, says Tom Lee
A well-known supporter of digital currencies believes that bad market conditions will not accompany investors this year.
In the opinion of Tom Lee (Managing Partner at Fundstrat Global Advisors), the "dire macroeconomic conditions" of 2022 will not last over the next 12 months. In his new Twitter thread, he claimed that inflation was falling faster than markets and the US Federal Reserve expected. This man is counting on the rebound of the entire cryptocurrency sector after a negative 2022.
Poor macroeconomic conditions will not persist in 2023
The popular cryptocurrency enthusiast, investor and managing partner at Fundstrat Global Advisors believes that the extremely negative macroeconomic conditions of 2022 will not continue into 2023. In a new Twitter thread, he shared his insights on the topic.
According to Tom Lee, inflation in the United States is falling faster than expected by the markets and the Fed. A CNBC contributor noted alongside that the U.S. central bank likes to see a strong job market.
According to the aforementioned investor, many factors driving inflation imploded in mid-2022. This sharp increase was followed by a slowdown, a decrease and a stop. In his opinion, investors don't have to study the charts too much to spot this trend.
Tom Lee further stressed that stocks tend to bounce back after years of decline. He assumed that if "the inflationary crisis does not persist, financial conditions will certainly ease significantly".
Although Tom Lee's predictions regarding the BTC price for 2022 did not come true, the man still sees significant potential for growth in this virtual currency. Previously, he predicted that Bitcoin would easily cross the $100,000 mark per coin, with $200,000 achievable as well.
The managing partner of Fundstrat Global Advisors seems unfazed by the current rate of the oldest cryptocurrency. Recently, he emphasized that investing in BTC still makes sense, and investors who want to diversify their portfolio should seriously consider acquiring Bitcoin. In his opinion, this leading cryptocurrency will eventually return to the path of growth to reach the above-mentioned price in the coming years.