According to market analyst Michel Lee, the future of Bitcoin is unshakable and does not depend on the decisions of regulators. During an interview on Fox Business, the expert considers that the price of the main cryptocurrency will inevitably reach a new all-time high.
The interviewee is the founder of the investment firm Michael Lee Strategy, which offers solutions related to investment advisory services to its clients. It should be noted that the interviewee considers that cryptocurrencies are still in a very recent phase of development. In that sense, he does not see hampering regulatory policies on the horizon from the Federal Reserve or other central banks.
On the other hand, he dismissed that the price of Bitcoin depends on influential people or companies. In the particular case of Amazon and the rumors surrounding the steps of this firm in terms of cryptocurrencies, it was emphatic. The price of Bitcoin is somewhat more complex, he expressed and stressed that it is wrong to attribute it to a single phenomenon.
Bitcoin does not depend on third parties, assures Michael Lee
The fact that an analyst and strategist of the stature of Michael Lee, considers that Bitcoin is autonomous in its development, is striking. According to his vision, the impact of external factors on the stability of the cryptocurrency are circumstantial, but they do not affect its long-term future.
On the other hand, the analyst considered during the interview that the price of Bitcoin shows no signs of falling in the short term. Contrary to this, he estimates that it will progressively reach new historical peaks in market appreciation. This, he explains, far above the rest of the cryptocurrencies.
Regarding the latter, he considers that, in a short time, there will be no type of assets that will equal Bitcoin in terms of profits. Investors, he considers, should be satisfied to put their capital in the current stage. In that sense, it explains that no other cryptocurrency has as many safe return capabilities as Bitcoin.
At the same time, it underlines that the best days for cryptocurrencies, and specifically for Bitcoin, are yet to come. According to Michel Lee, Bitcoin is par excellence a future earnings asset and, therefore, the fruits of investors will mature later in time.
According to Michael Lee, the future of Bitcoin is independent of external factors such as regulations and obstacles that are tried to be put. Source: Fox Business Screenshot
Regulations and central banks
For the analyst, the possible threats against the pioneer cryptocurrency that may arise from regulators, are not of great importance. Neither the Federal Reserve nor other central banks can stop the momentum of Bitcoin, he considers. At the same time, he adds that it is something that goes beyond his capabilities and scope.
“I think it will be a long time before we see any kind of reduction or any kind of restrictive policy from the Fed,” he said. Additionally, he said that this applies not only to the Federal Reserve, but to other central banks in the world.
Regardless of all this, Michel Lee assures that the future of Bitcoin is unshakable. The long-term behavior of its price looks extremely positive considering that it is an asset that cannot be stopped.
Finally, he asserted that the price of the pioneer cryptocurrency is due to many factors and not only to specific cases of speculation. The biggest factor in the growth of Bitcoin’s valuation, he said, is the unlimited printing of fiat money.