‘New Money’ is on Bitcoin, Not Bitcoin Cash

Thomas Lee, co-founder of Fundstrat Global, doesn’t like to take sides in the bitcoin/Bitcoin Cash rivalry. But holding his feet to the fire, Lee would bet on the No. 1 cryptocurrency over its spin-off, Bitcoin Cash.

Earlier this month, cryptocurrency fund manager Brian Kelly similarly made headlines for betting on Bitcoin Cash, the No. 4 digital currency based on market cap whose followers believe is the Second Coming for its features that capitalize on bitcoin’s issues — transaction speed and cost. The Bitcoin Cash price rallied in recent weeks amid an upcoming hard fork that’s scheduled for mid-May.

Lee suggests that Bitcoin Cash is “overbought”, pointing to Kelly’s “new entry” in Bitcoin Cash as helping to drive the price higher, though the BCH price has pulled back some from last week’s rally.

Reference: https://www.ccn.com/new-money-is-on-bitcoin-not-bitcoin-cash-fundstrats-tom-lee/

Share this: