Tom Lee and Bitcoin (BTC)Bitcoin just recently fell to its lowest levels in more than a year yesterday, but Lee remains convinced. Originally, Lee cut his Bitcoin year-end prediction by $10,000—from $25,000 to $15,000. "Days like this, it does make me wonder," said Lee to CNBC. "These past few days have definitely been a negative development." The Fundstrat advisor contends that more oversight from US regulators and institutional involvement could push the prices of BTC up. Lee told CNBC that the upcoming launch of Bakkt, the digital assets platform run by the New York Stock Exchange, could peak investor interest as it is set to launch at the end of January 2019. Often, digital currencies see a 'boost' during a run-up to a major product launch. >> Bakkt Looks for Support for Its Next Futures Contract Elaborating more on his US regulation comment, Lee explained:
“Once we have that [regulatory clarity], I think, institutions will feel more comfortable in making bets.”Lee isn't the only one that remains bullish on cryptocurrency. Just recently, the Netherlands-based KPMG released another bull report on cryptocurrency.