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Bitcoin still has "exponential growth ahead," says Fundstrat's chief strategist



Bitcoin has underperformed in the past few weeks, but the leading cryptocurrency is expected to see massive growth in the coming weeks and months.

The managing partner and research director of Fundstrat Global Advisors, Thomas Lee, announced in a recent interview that he believes Bitcoin will soon experience exponential growth. He made this statement at a time when Bitcoin was struggling to stay above the $ 50,000 level.

Lee stated that Bitcoin still has exponential growth ahead as the leading cryptocurrency begins to establish itself in the mainstream. While discussing the recent drop in prices, Lee said it made more sense to hold the cryptocurrency during the current period of volatility:

“Every year Bitcoin makes all of its profits in 10 days, and if you don't own Bitcoin for those 10 days, your possessions will have decreased by 25% annually. To me, the kind of weekend massacre that happened is painful, but it's pretty common. "

The Fundstrat manager also commented that Jack Dorsey has left his role as Twitter CEO and focused on Square (now called Block). Lee stressed that the move is an optimistic sign for the cryptocurrency space, as someone with Dorsey's experience and expertise represents a huge boost to the broader cryptocurrency market.

Lee added that the cryptocurrency space was still in its infancy and the projects would get bigger in the years to come. Bitcoin and other leading cryptocurrencies are expected to rise higher in the coming months and years.

The broader cryptocurrency market has been on a bearish trend for the past few weeks. Bitcoin lost more than 25% of its value after falling from an all-time high of $ 69,044 to just over $ 48,000.

However, BTC is slowly recovering and is trading above $ 50,000 at the time of writing. The medium- and long-term outlook for Bitcoin and other leading cryptocurrencies remains positive despite the recent drop in prices.

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