Earlier this month Fundstrat Global Advisors made the prediction that the Consensus conference would generate a price spike for Bitcoin. Well, Tom Lee and crew were wrong...again.
The Consensus conference occurred for this week and was marked by a notable decline in the price of Bitcoin.
Maybe the false hype from Fundstrats merry pranksters caused a run up leading to the conference which could only fall apart once the big week arrived. It feels like every thing Tom Lee touches turns to fiat, at least he's consistent.
Well Tom Lee is also just a human being and not some kind of a magician with a crystal ball who knows everything. So his prediction was wrong. I couldn't care less to be honest.
And where did his announcement from may 7th caused a run up?
We started dropping from 9950 already two days before his prediction. And after that the price decline continued. So Lee wasn't responsible for anything.
He was just wrong. That's it.