Fundstrat’s Lee sees a crypto comeback once precious metals cool
Fundstrat’s Tom Lee said crypto markets are being overshadowed by record gold and silver prices, but predicts a surge will come once precious metals’ rally takes a pause.
Fundstrat managing partner Tom Lee predicts that crypto markets will likely catch up once gold and silver begin to take a break from their recent rallies.
Tom Lee said on CNBC’s Power Lunch on Monday that crypto should be going up on a weaker dollar and an easing Federal Reserve.
However, it doesn’t have the leverage tailwind because the industry delevered, “and as long as gold and silver are rising, then there’s a FOMO into buying that instead of crypto,” he said.