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Fundstrat Global co-founder Tom Lee’s thoughts on recent Bitcoin fall

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Tom Lee is a cryptocurrency expert at Fundstrat Global Advisors. He’s made name for himself by correctly predicting all kinds of markets many times over. Earlier this year, Mr. Lee made waves in the cryptosphere when he forecasted Bitcoin’s price to end the year at $25,000.

Not too long ago, Mr. Lee appeared at CNBC’s “Squawk Box” to talk about Bitcoin and other crypto topics and if you missed it, in this article we will give you the gist of it.

The interview opened asking Mr. Lee about Bitcoin. That was unavoidable in the coin’s currently calamitous state and the hash wars with Bitcoin Cash. While the red numbers in the market seem apocalyptic to many, Mr. Lee explained that the outlook is not as bad for several reasons. First of all, Bitcoin is currently more of a commodity than an actual currency, so tragedy will hardly come up of the current low market.

He also explained that crypto has two main players: users and speculators and that users will ultimately dominate the market because there is a new wave of users coming soon in the form of institutions. New regulatory clarity will give institutional investors and users the confidence they’ve lacked so far to adopt Bitcoin (and many other digital assets), come into the game and make the market mature at last.

The interviewer asked Mr. Lee explicitly about Bitcoin’s price by the end of the year, because the current trends make the $25,000 mark seemingly unreachable. Mr. Lee agreed that it doesn’t look so hot right now but he still said that $15,000 by year’s end is reasonable. When he was asked why he said that many different things could make this happen. He wasn’t specific about what could those things be, but he was very confident nevertheless.

Bitcoin ‘seriously’ undervalued

He also explained that Bitcoin is currently seriously undervalued. In his estimation it takes $7,000 USD to mine a full coin so, being a commodity, it won’t stay under that price for much longer because commodities are never sold at prices that are under production costs. On further explanations, he said that as the world grows more digital every day, digital currencies can only become more relevant and accessible. That will make adoption easier, more common, and will rise value for the market.

When the interviewers insisted on describing the sorry state in the cryptosphere, Mr. Lee explained that it’s not as bad as it looks. XRP, for instance, is doing quite well and is quickly becoming a viable alternative for Bitcoin.

To take his point further, he compared how much money is moved around the world using Bitcoin and Paypal. Bitcoin’s piece of that market is superior by a factor of three, even as the price goes down. In his estimation, it will be six times bigger than Paypal in two years, more or less.

Next, he described resistance to digital assets as a normal feature of the generational gap.

During the interview, Mr. Lee was pressed to be a prophet of doom of sorts, but he never lost his ground. Not just around Bitcoin, his arguments on every point were rational, calmed and he offered data when it was needed.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image Courtesy of CNBC.

Bitcoin

Basic Guide on How to Spend Bitcoin and Other Cryptocurrencies

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In recent years, Bitcoin and other cryptocurrencies have entered more into the mainstream. Most people walking down the street have at least heard of Bitcoin. While a lot of people got involved in the buying and selling of cryptocurrencies to try and make a quick buck, most people who are enthusiastic about the world of blockchain are in it for the long haul. 

These are usually the people who are going to be more likely to actually use their Bitcoin and other cryptocurrencies as a payment tool and not just as a storage of wealth or a trading tool. This guide looks at a few different ways in which you can use your Bitcoin in spending capacity. 

Crypto Debit Cards

Perhaps the easiest way for you to spend your cryptocurrency is by linking up your holdings to a debit card. 

These days, many of the leading card providers such as MasterCard and Visa have these types of crypto-linking debit cards. These cards can be used just like you would a normal debit card that is linked to your fiat currency bank account. 

Naturally, the most popular type of crypto debit card is going to be for Bitcoin, but there are other cryptocurrencies catered for also. 

Prepaid Cards

There…

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Hybrid Bitcoin Casinos or Bitcoin-Only Casinos – Which Are Better?

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The rise of cryptocurrencies over recent years has had an impact on several industries. Gambling is one such industry, and many of the best online casinos offer Bitcoin as a payment method

Some of these casinos work exclusively with cryptocurrencies, while some are more traditional gambling sites that simply have integrated crypto on top of their fiat options.

This post will take a look at the advantages of joining a Bitcoin-exclusive casino on the web versus picking a hybrid one.

Advantages of Hybrid Bitcoin Casinos

Let’s start with the hybrid Bitcoin casinos. Usually, those are traditional gambling platforms that have been around for a long period of time. 

They offer classic payment methods such as Visa, PayPal, Skrill, and similar. At some point, they decided to add Bitcoin and potentially other cryptocurrencies to their portfolio. 

If you decide to join an online casino of this type, you will be able to enjoy the following benefits.

Lower Risks

Such online casinos often have a strong reputation and are licensed by respected gambling commissions such as the UK Gambling Commission, the Malta Gaming Authority, and similar regulators.

They are known for protecting the customers and monitoring all actions…

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Is Bex500 an alternative to BitMEX?

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An all around review of Bex500

Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders. 

Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.

Bex500 says they are making crypto margin trading “easier” and giving you a better return. 

Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange

Question 1. What features does Bex500 have?

Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.

-A fair trade with no overload

Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.

Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…

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