The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Fundstrat’s Tom Lee Says Bitcoin, Ethereum and XRP Have Staying Power in the ‘Earliest Days of Crypto’

by Daily Hodl Staff
December 5, 2018
in Altcoins

Fundstrat co-founder and analyst Tom Lee is preaching patience in the crypto bear market.

At the BlockShow Asia 2018 conference in Singapore, Lee told Cointelegraph why he recommends his clients allocate a small portion of their portfolios to crypto, and stick with some of the biggest cryptocurrencies by market cap.

“I think people need to be patient. But I think one of the most important things that we advise our clients is that crypto as an investment should really be 1 to 2% of their allocation, so that number one, they’re not worrying about it every day. But also, that 2% can become 50% in a decade. It can grow dramatically.

I think the other thing is to realize that some of the crypto projects are probably hopeless. But things like Bitcoin and Ethereum or XRP have staying power. And these are the ones where unless you think the protocol is actually completely broken, you’re seeing price distortion caused by panic selling.”

As for where the crypto market is heading, Lee compared the current price action to the ups and downs of the stock market and explained why he believes now may be a good time to buy.

“This is the simple math of long-term investing. That, if you look at the equity markets, the only time you actually earn better than historical average return – so the stock market has returned roughly 7% per year. The only times you earn better than 7% is when you buy in a bear market. So, for instance, if you bought the S&P in October of 2008 at 800, it still went down another 200 points for six months. So in the short term you lost money. But the S&P is now at 2800. A lot of people waited until the S&P went to 1600 which was a new high to buy it. They made a lot less money than a person who bought at 800.

So to me, crypto is exactly at this moment. Bitcoin may have downside in the near term. But does this change the fact that it’s still the earliest days of crypto and it’s about to become an emerging asset class? Well, those are going to create some much higher prices.”

[the_ad id="42537"] [the_ad id="42536"]

Featured Image: Shutterstock/Eduardo Estellez
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Bitcoin.com’s VERSE Token Now Available for Trading on Kucoin
    May 29, 2023
  • Huobi Set To Launch Trading Service in Hong Kong
    May 26, 2023
  • Stably Launches #USD As the First BRC20 Stablecoin on the Bitcoin Network
    May 25, 2023
  • The Open Network (TON) Unveils DeFi and Data Analytics Hackathon in Collaboration With DWF Labs and Amazon Web Services
    May 25, 2023
  • Ankr Partners With Mirage To Revolutionize the Web 3.0 Gaming Landscape
    May 25, 2023
  • Tulipart.com Launches a Collection of Tulip NFTs Minted Daily Over Seven Years
    May 24, 2023
  • Binance Futures Grand Tournament Returns
    May 24, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,930.48
$27,930.48
0.02%
Ethereum
$1,912.33
$1,912.33
0.57%
Cardano
$0.380627
$0.380627
0.38%
XRP
$0.50141
$0.50141
4.18%
Dogecoin
$0.072972
$0.072972
0.64%

Spotlight

  • Bitcoin (BTC) and Ethereum (ETH) Fees Plummet As Speculative Frenzy Cools, According to Crypto Analytics Firm
    May 27, 2023
  • China To Settle $582,300,000,000 in Yuan Worldwide Amid Push to Circumvent US Dollar: Report
    May 27, 2023
  • Top Crypto Analyst Says One Catalyst Will Keep Litecoin ‘Propped Up’, Updates Outlook on Bitcoin and Ethereum
    May 27, 2023
  • $30,000,000,000 Exits US Banking System in One Week As Deposit Flight Grows
    May 27, 2023
Coinfest Asia Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl